Assetmark Inc. raised its holdings in shares of International Business Machines Co. (NYSE:IBM – Free Report) by 13.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,964 shares of the technology company’s stock after purchasing an additional 2,887 shares during the quarter. Assetmark Inc.’s holdings in International Business Machines were worth $3,273,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Red Tortoise LLC purchased a new stake in shares of International Business Machines in the fourth quarter worth about $27,000. Live Oak Investment Partners purchased a new stake in shares of International Business Machines in the fourth quarter worth about $30,000. Western Pacific Wealth Management LP purchased a new stake in shares of International Business Machines in the fourth quarter worth about $35,000. First Command Advisory Services Inc. purchased a new stake in shares of International Business Machines in the first quarter worth about $37,000. Finally, Kepos Capital LP bought a new position in shares of International Business Machines in the fourth quarter worth approximately $42,000. 55.71% of the stock is owned by hedge funds and other institutional investors.
International Business Machines Price Performance
Shares of NYSE IBM opened at $146.18 on Tuesday. The firm has a 50-day simple moving average of $135.61 and a 200-day simple moving average of $131.63. The stock has a market capitalization of $133.17 billion, a price-to-earnings ratio of 67.68, a price-to-earnings-growth ratio of 3.66 and a beta of 0.85. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.28. International Business Machines Co. has a 52 week low of $115.54 and a 52 week high of $153.21.
International Business Machines Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, September 9th. Shareholders of record on Thursday, August 10th will be issued a dividend of $1.66 per share. The ex-dividend date is Wednesday, August 9th. This represents a $6.64 dividend on an annualized basis and a yield of 4.54%. International Business Machines’s payout ratio is currently 307.41%.
Analysts Set New Price Targets
IBM has been the topic of several research analyst reports. BMO Capital Markets upped their price objective on shares of International Business Machines from $145.00 to $150.00 and gave the stock a “market perform” rating in a research report on Monday, July 17th. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research note on Tuesday, July 18th. Wedbush reaffirmed a “neutral” rating and issued a $140.00 price target on shares of International Business Machines in a research note on Thursday, July 20th. Morgan Stanley reissued an “equal weight” rating and set a $135.00 price objective on shares of International Business Machines in a research report on Thursday, July 20th. Finally, Stifel Nicolaus lifted their price target on International Business Machines from $140.00 to $144.00 and gave the stock a “buy” rating in a research report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $141.75.
View Our Latest Stock Analysis on IBM
About International Business Machines
International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.
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