NorthRock Partners LLC Increases Stake in International Business Machines Co. (NYSE:IBM)

NorthRock Partners LLC lifted its holdings in shares of International Business Machines Co. (NYSE:IBM) by 9.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,613 shares of the technology company’s stock after buying an additional 303 shares during the period. NorthRock Partners LLC’s holdings in International Business Machines were worth $799,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Nordea Investment Management AB lifted its stake in shares of International Business Machines by 3.3% in the first quarter. Nordea Investment Management AB now owns 66,975 shares of the technology company’s stock valued at $12,790,000 after purchasing an additional 2,125 shares during the period. Central Pacific Bank Trust Division acquired a new stake in International Business Machines in the 1st quarter valued at about $226,000. Proficio Capital Partners LLC increased its holdings in International Business Machines by 4.9% during the 1st quarter. Proficio Capital Partners LLC now owns 2,074 shares of the technology company’s stock valued at $396,000 after acquiring an additional 96 shares in the last quarter. Callan Capital LLC acquired a new position in International Business Machines during the first quarter worth about $252,000. Finally, Larson Financial Group LLC lifted its holdings in shares of International Business Machines by 20.4% in the first quarter. Larson Financial Group LLC now owns 2,895 shares of the technology company’s stock valued at $553,000 after purchasing an additional 491 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Trading Up 0.5 %

Shares of IBM traded up $0.94 during trading hours on Tuesday, hitting $207.26. The stock had a trading volume of 404,511 shares, compared to its average volume of 4,244,252. The company’s fifty day simple moving average is $217.01 and its 200 day simple moving average is $191.53. International Business Machines Co. has a 12-month low of $145.28 and a 12-month high of $237.37. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The firm has a market cap of $191.64 billion, a P/E ratio of 30.03, a P/E/G ratio of 4.68 and a beta of 0.71.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter in the previous year, the business earned $2.20 EPS. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities research analysts forecast that International Business Machines Co. will post 10.11 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.22%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s payout ratio is currently 97.23%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on IBM. Stifel Nicolaus lifted their price objective on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. UBS Group boosted their price target on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research report on Thursday, October 24th. Finally, Jefferies Financial Group upped their target price on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $208.12.

International Business Machines Company 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.