Allworth Financial LP Grows Stock Holdings in International Business Machines Corporation (NYSE:IBM)

Allworth Financial LP boosted its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 23.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,242 shares of the technology company's stock after buying an additional 14,234 shares during the quarter. Allworth Financial LP's holdings in International Business Machines were worth $17,255,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Capital World Investors increased its position in shares of International Business Machines by 413.5% during the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock worth $2,634,577,000 after acquiring an additional 9,650,534 shares during the period. Norges Bank purchased a new stake in shares of International Business Machines during the fourth quarter worth $1,236,176,000. GAMMA Investing LLC increased its position in shares of International Business Machines by 29,564.2% during the first quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock worth $10,940,520,000 after acquiring an additional 4,384,958 shares during the period. Northern Trust Corp increased its position in shares of International Business Machines by 18.6% during the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock worth $2,384,275,000 after acquiring an additional 1,704,209 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of International Business Machines by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company's stock worth $20,189,023,000 after acquiring an additional 1,539,888 shares during the period. Hedge funds and other institutional investors own 58.96% of the company's stock.

Wall Street Analyst Weigh In

IBM has been the subject of a number of recent research reports. BMO Capital Markets reiterated a "market perform" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Royal Bank Of Canada lifted their price target on shares of International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Citigroup reiterated an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. Bank of America increased their price objective on International Business Machines from $290.00 to $320.00 and gave the company a "buy" rating in a report on Wednesday, June 18th. Finally, Morgan Stanley dropped their price objective on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $259.06.

International Business Machines Stock Performance

IBM traded down $3.37 on Friday, hitting $284.06. 1,722,671 shares of the company traded hands, compared to its average volume of 4,226,622. The company has a 50 day moving average of $272.42 and a 200-day moving average of $251.52. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. The stock has a market capitalization of $264.01 billion, a PE ratio of 48.92, a PEG ratio of 6.09 and a beta of 0.69. International Business Machines Corporation has a 12-month low of $176.62 and a 12-month high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.18. The business had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The business's quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.68 earnings per share. Sell-side analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a $1.68 dividend. This is an increase from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.37%. International Business Machines's payout ratio is presently 115.66%.

International Business Machines 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.