B. Riley Wealth Advisors Inc. Has $13.64 Million Stake in International Business Machines Co. (NYSE:IBM)

B. Riley Wealth Advisors Inc. trimmed its stake in shares of International Business Machines Co. (NYSE:IBM) by 12.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 83,390 shares of the technology company’s stock after selling 11,497 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in International Business Machines were worth $13,638,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Checchi Capital Advisers LLC raised its stake in shares of International Business Machines by 12.2% during the third quarter. Checchi Capital Advisers LLC now owns 9,015 shares of the technology company’s stock worth $1,265,000 after buying an additional 977 shares during the last quarter. Financial Engines Advisors L.L.C. raised its stake in shares of International Business Machines by 18.7% during the third quarter. Financial Engines Advisors L.L.C. now owns 5,034 shares of the technology company’s stock worth $706,000 after buying an additional 792 shares during the last quarter. Wealthsource Partners LLC raised its stake in shares of International Business Machines by 7.4% during the third quarter. Wealthsource Partners LLC now owns 3,942 shares of the technology company’s stock worth $553,000 after buying an additional 271 shares during the last quarter. Korea Investment CORP increased its stake in International Business Machines by 1.1% in the third quarter. Korea Investment CORP now owns 585,735 shares of the technology company’s stock valued at $82,179,000 after purchasing an additional 6,444 shares in the last quarter. Finally, QRG Capital Management Inc. bought a new stake in International Business Machines in the third quarter valued at approximately $15,180,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on IBM. JPMorgan Chase & Co. lowered their target price on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Sanford C. Bernstein upped their target price on shares of International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a research note on Thursday, March 7th. Morgan Stanley lowered their target price on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. BNP Paribas assumed coverage on shares of International Business Machines in a research note on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 target price for the company. Finally, BMO Capital Markets lowered their price objective on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a research report on Thursday, April 25th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $181.29.

International Business Machines Stock Up 0.2 %

IBM traded up $0.29 during trading hours on Monday, hitting $169.50. 3,205,139 shares of the company’s stock were exchanged, compared to its average volume of 4,561,354. International Business Machines Co. has a 1-year low of $129.18 and a 1-year high of $199.18. The stock’s 50-day moving average is $172.43 and its two-hundred day moving average is $175.84. The stock has a market cap of $155.70 billion, a price-to-earnings ratio of 19.20, a PEG ratio of 4.17 and a beta of 0.72. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32.

International Business Machines (NYSE:IBM) last announced its earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.59 by $0.09. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The firm’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.36 earnings per share. Sell-side analysts predict that International Business Machines Co. will post 9.9 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were paid a $1.67 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $6.68 dividend on an annualized basis and a yield of 3.94%. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio (DPR) is currently 75.65%.

About International Business Machines

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.