SteelPeak Wealth LLC Has $8.28 Million Stake in International Business Machines Corporation $IBM

SteelPeak Wealth LLC grew its position in International Business Machines Corporation (NYSE:IBM) by 459.7% during the first quarter, HoldingsChannel reports. The firm owned 34,167 shares of the technology company’s stock after buying an additional 28,063 shares during the period. SteelPeak Wealth LLC’s holdings in International Business Machines were worth $8,282,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of IBM. Brighton Jones LLC boosted its position in International Business Machines by 12.4% during the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock valued at $4,619,000 after acquiring an additional 2,323 shares during the last quarter. Sivia Capital Partners LLC raised its position in shares of International Business Machines by 10.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,938 shares of the technology company’s stock worth $571,000 after acquiring an additional 186 shares in the last quarter. Jump Financial LLC acquired a new position in shares of International Business Machines in the 2nd quarter valued at about $211,000. Ieq Capital LLC lifted its stake in shares of International Business Machines by 2.2% in the 2nd quarter. Ieq Capital LLC now owns 38,617 shares of the technology company’s stock valued at $11,383,000 after purchasing an additional 843 shares during the period. Finally, Vivaldi Capital Management LP boosted its position in shares of International Business Machines by 11.6% during the 2nd quarter. Vivaldi Capital Management LP now owns 1,017 shares of the technology company’s stock valued at $300,000 after purchasing an additional 106 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Performance

Shares of IBM opened at $219.39 on Friday. The firm has a market capitalization of $206.21 billion, a P/E ratio of 19.40, a P/E/G ratio of 2.06 and a beta of 0.68. International Business Machines Corporation has a 52 week low of $204.44 and a 52 week high of $332.46. The stock has a 50 day moving average price of $264.17 and a two-hundred day moving average price of $263.94. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.80.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.10. The company had revenue of $15.92 billion for the quarter, compared to analyst estimates of $15.60 billion. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the company earned $1.60 earnings per share. Equities analysts forecast that International Business Machines Corporation will post 12.33 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th were paid a dividend of $1.69 per share. This is a boost from International Business Machines’s previous quarterly dividend of $1.68. The ex-dividend date was Friday, May 8th. This represents a $6.76 annualized dividend and a yield of 3.1%. International Business Machines’s dividend payout ratio (DPR) is 59.77%.

Analysts Set New Price Targets

IBM has been the subject of several recent analyst reports. Wolfe Research cut International Business Machines to a “peer perform” rating in a research note on Tuesday, June 23rd. KeyCorp cut International Business Machines to a “sector weight” rating in a report on Tuesday, June 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of International Business Machines in a research report on Tuesday, June 23rd. Morgan Stanley raised their price objective on shares of International Business Machines from $267.00 to $293.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, Citigroup boosted their target price on shares of International Business Machines from $285.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Fifteen research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $301.83.

Key Headlines Impacting International Business Machines

Here are the key news stories impacting International Business Machines this week:

• Negative Sentiment: IBM’s preliminary Q2 results came in below expectations, with softer revenue and adjusted EPS fueling the sharp selloff and a major reset in investor confidence. Article Title
• Negative Sentiment: Management said some large deals were delayed as customers reassessed spending, reinforcing concerns that IBM is being hurt by changing enterprise tech budgets and slower software demand. Article Title
• Negative Sentiment: Several reports highlighted the stock’s historic one-day drop, securities-fraud investigations, and analyst downgrades/target cuts, all of which can keep sentiment and trading pressure negative. Article Title

International Business Machines Company Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.