International Business Machines Corporation $IBM Stake Raised by Occidental Asset Management LLC

Occidental Asset Management LLC increased its holdings in International Business Machines Corporation (NYSE:IBM) by 903.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 12,604 shares of the technology company’s stock after purchasing an additional 11,348 shares during the quarter. Occidental Asset Management LLC’s holdings in International Business Machines were worth $3,556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. Family CFO Inc acquired a new position in shares of International Business Machines during the second quarter valued at $25,000. Winnow Wealth LLC bought a new position in International Business Machines in the 2nd quarter valued at about $27,000. Mountain Hill Investment Partners Corp. acquired a new position in International Business Machines during the 3rd quarter valued at about $28,000. Highline Wealth Partners LLC raised its position in shares of International Business Machines by 85.0% during the 2nd quarter. Highline Wealth Partners LLC now owns 111 shares of the technology company’s stock worth $33,000 after buying an additional 51 shares in the last quarter. Finally, Copia Wealth Management lifted its stake in shares of International Business Machines by 57.6% in the 2nd quarter. Copia Wealth Management now owns 134 shares of the technology company’s stock worth $40,000 after acquiring an additional 49 shares during the period. Institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Morgan Stanley dropped their target price on International Business Machines from $256.00 to $252.00 and set an “equal weight” rating on the stock in a report on Thursday, October 23rd. Erste Group Bank upgraded International Business Machines from a “hold” rating to a “buy” rating in a report on Friday, December 5th. Oppenheimer began coverage on International Business Machines in a research note on Friday, November 21st. They set an “outperform” rating and a $360.00 target price for the company. UBS Group reiterated a “sell” rating on shares of International Business Machines in a research report on Tuesday, December 9th. Finally, Bank of America raised their price objective on shares of International Business Machines from $315.00 to $335.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $303.38.

International Business Machines Trading Up 2.6%

NYSE:IBM opened at $305.82 on Friday. The stock has a fifty day simple moving average of $303.46 and a 200 day simple moving average of $282.44. The firm has a market capitalization of $285.86 billion, a price-to-earnings ratio of 36.58, a price-to-earnings-growth ratio of 2.96 and a beta of 0.70. International Business Machines Corporation has a 1-year low of $214.50 and a 1-year high of $324.90. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 1.97.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 22nd. The technology company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.20. The company had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.10 billion. International Business Machines had a net margin of 12.09% and a return on equity of 37.76%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.30 earnings per share. Sell-side analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th were paid a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Monday, November 10th. International Business Machines’s payout ratio is 80.38%.

International Business Machines Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.