Stokes Family Office LLC Raises Stock Position in International Business Machines Co. (NYSE:IBM)

Stokes Family Office LLC raised its stake in shares of International Business Machines Co. (NYSE:IBM) by 33.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,617 shares of the technology company’s stock after buying an additional 1,166 shares during the period. Stokes Family Office LLC’s holdings in International Business Machines were worth $882,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Naples Money Management LLC bought a new position in International Business Machines in the 4th quarter worth $28,000. Creekmur Asset Management LLC bought a new position in shares of International Business Machines during the 4th quarter valued at approximately $29,000. Ables Iannone Moore & Associates Inc. purchased a new stake in International Business Machines in the 4th quarter worth approximately $31,000. Financial Synergies Wealth Advisors Inc. lifted its holdings in International Business Machines by 164.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after purchasing an additional 123 shares in the last quarter. Finally, American Capital Advisory LLC boosted its position in shares of International Business Machines by 75.0% in the first quarter. American Capital Advisory LLC now owns 203 shares of the technology company’s stock worth $39,000 after purchasing an additional 87 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. BNP Paribas began coverage on shares of International Business Machines in a report on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of International Business Machines in a research report on Wednesday, May 22nd. BMO Capital Markets dropped their price target on International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a research note on Thursday, April 25th. Jefferies Financial Group reduced their price objective on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a research report on Tuesday, April 23rd. Finally, The Goldman Sachs Group initiated coverage on shares of International Business Machines in a research report on Monday, June 24th. They set a “buy” rating and a $200.00 target price for the company. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $182.53.

International Business Machines Stock Up 2.5 %

NYSE IBM traded up $4.48 during trading on Friday, reaching $182.79. 4,784,634 shares of the company’s stock traded hands, compared to its average volume of 4,453,149. International Business Machines Co. has a 12-month low of $132.94 and a 12-month high of $199.18. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09. The firm has a market cap of $167.91 billion, a price-to-earnings ratio of 20.46, a price-to-earnings-growth ratio of 4.39 and a beta of 0.71. The company’s 50 day simple moving average is $170.81 and its two-hundred day simple moving average is $177.30.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.09. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. International Business Machines’s revenue was up 1.5% compared to the same quarter last year. During the same period last year, the company posted $1.36 earnings per share. As a group, sell-side analysts forecast that International Business Machines Co. will post 9.9 EPS 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. Stockholders of record on Friday, May 10th were issued a $1.67 dividend. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date was Thursday, May 9th. 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.