Robertson Stephens Wealth Management LLC Boosts Stake in International Business Machines Co. (NYSE:IBM)

Robertson Stephens Wealth Management LLC lifted its stake in International Business Machines Co. (NYSE:IBM) by 5.2% in the 4th quarter, HoldingsChannel reports. The fund owned 13,152 shares of the technology company’s stock after purchasing an additional 651 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in International Business Machines were worth $2,151,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in IBM. Dakota Wealth Management lifted its position in shares of International Business Machines by 36.9% during the third quarter. Dakota Wealth Management now owns 5,536 shares of the technology company’s stock valued at $777,000 after buying an additional 1,492 shares during the last quarter. Simon Quick Advisors LLC lifted its position in International Business Machines by 2.2% during the third quarter. Simon Quick Advisors LLC now owns 5,689 shares of the technology company’s stock valued at $798,000 after acquiring an additional 125 shares during the last quarter. Stratos Wealth Partners LTD. boosted its stake in International Business Machines by 12.5% in the third quarter. Stratos Wealth Partners LTD. now owns 60,124 shares of the technology company’s stock valued at $8,435,000 after acquiring an additional 6,677 shares in the last quarter. Independent Advisor Alliance grew its holdings in International Business Machines by 3.8% in the third quarter. Independent Advisor Alliance now owns 48,463 shares of the technology company’s stock worth $6,799,000 after purchasing an additional 1,764 shares during the last quarter. Finally, SkyOak Wealth LLC increased its position in shares of International Business Machines by 0.7% during the third quarter. SkyOak Wealth LLC now owns 14,298 shares of the technology company’s stock worth $2,006,000 after purchasing an additional 100 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IBM has been the topic of several research analyst reports. Evercore ISI upgraded International Business Machines from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $165.00 to $200.00 in a research note on Friday, January 19th. JPMorgan Chase & Co. dropped their price target on International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Royal Bank of Canada increased their price objective on shares of International Business Machines from $179.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. BNP Paribas started coverage on shares of International Business Machines in a research report on Thursday. They set an “underperform” rating and a $145.00 target price on the stock. Finally, Societe Generale reaffirmed a “sell” rating and issued a $143.00 price target on shares of International Business Machines in a report on Friday, January 5th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $181.29.

International Business Machines Stock Performance

IBM traded down $0.33 during midday trading on Thursday, hitting $164.10. 1,104,391 shares of the company were exchanged, compared to its average volume of 4,964,094. The firm has a market capitalization of $150.44 billion, a price-to-earnings ratio of 18.51, a price-to-earnings-growth ratio of 4.08 and a beta of 0.74. The company’s 50 day simple moving average is $186.54 and its 200 day simple moving average is $170.87. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32. International Business Machines Co. has a 1-year low of $120.55 and a 1-year high of $199.18.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. During the same period last year, the business earned $1.36 earnings per share. International Business Machines’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, sell-side analysts predict that International Business Machines Co. will post 9.94 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be issued a dividend of $1.67 per share. The ex-dividend date is Thursday, May 9th. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 dividend on an annualized basis and a yield of 4.07%. International Business Machines’s dividend payout ratio is 75.20%.

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.