Assetmark Inc. Boosts Position in International Business Machines Co. (NYSE:IBM)

Assetmark Inc. grew its holdings in International Business Machines Co. (NYSE:IBM) by 7.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,478 shares of the technology company’s stock after acquiring an additional 2,640 shares during the period. Assetmark Inc.’s holdings in International Business Machines were worth $8,507,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. ESL Trust Services LLC purchased a new position in shares of International Business Machines during the 1st quarter valued at about $28,000. Hazlett Burt & Watson Inc. grew its holdings in International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after acquiring an additional 116 shares during the period. Hara Capital LLC acquired a new position in International Business Machines in the third quarter valued at approximately $29,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in International Business Machines in the 2nd quarter worth approximately $36,000. Finally, Wolff Wiese Magana LLC boosted its position in International Business Machines by 37.0% in the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after purchasing an additional 60 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on IBM. Bernstein Bank boosted their target price on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. Morgan Stanley lowered their target price on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. BMO Capital Markets raised their target price on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. The Goldman Sachs Group upped their price target on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $208.12.

International Business Machines Stock Performance

IBM opened at $213.62 on Tuesday. International Business Machines Co. has a twelve month low of $147.35 and a twelve month high of $237.37. The firm has a market capitalization of $197.52 billion, a PE ratio of 31.22, a PEG ratio of 4.80 and a beta of 0.71. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The firm’s 50-day moving average price is $218.02 and its 200 day moving average price is $192.36.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The business had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. During the same period in the previous year, the firm posted $2.20 EPS. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, sell-side analysts expect that International Business Machines Co. will post 10.11 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $1.67 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 3.13%. International Business Machines’s dividend payout ratio is presently 97.23%.

Insider Activity

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the sale, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.07% of the company’s stock.

International Business Machines Profile

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.