Gerber Kawasaki Wealth & Investment Management Increases Stock Position in International Business Machines Corporation $IBM

Key Points

• Gerber Kawasaki raised its IBM stake by 166.5% in Q3, adding 3,197 shares to hold 5,117 shares valued at about $1.444 million.
• IBM beat estimates with EPS of $4.52 vs. $4.33 expected and reported revenue of $19.69 billion, up 12.2% year-over-year.
• IBM declared a quarterly dividend of $1.68 per share (annualized $6.72, ~2.7% yield) with record date Feb. 10 and payable Mar. 10, while institutional ownership stands around 58.96%.

Gerber Kawasaki Wealth & Investment Management raised its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 166.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,117 shares of the technology company's stock after acquiring an additional 3,197 shares during the period. Gerber Kawasaki Wealth & Investment Management's holdings in International Business Machines were worth $1,444,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in IBM. Norges Bank purchased a new position in shares of International Business Machines during the 2nd quarter worth approximately $2,011,122,000. Vanguard Group Inc. increased its holdings in International Business Machines by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 95,051,475 shares of the technology company's stock valued at $28,019,274,000 after purchasing an additional 1,913,708 shares during the last quarter. Laurel Wealth Advisors LLC raised its position in International Business Machines by 27,928.2% in the second quarter. Laurel Wealth Advisors LLC now owns 1,903,116 shares of the technology company's stock valued at $561,001,000 after purchasing an additional 1,896,326 shares during the period. First Trust Advisors LP lifted its stake in International Business Machines by 39.6% during the third quarter. First Trust Advisors LP now owns 3,052,880 shares of the technology company's stock worth $861,401,000 after purchasing an additional 865,253 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in International Business Machines by 45.8% during the second quarter. Franklin Resources Inc. now owns 1,313,241 shares of the technology company's stock worth $387,118,000 after purchasing an additional 412,574 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IBM has been the subject of a number of research reports. Argus set a $360.00 price objective on International Business Machines in a research note on Friday, January 30th. Erste Group Bank lowered International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, February 18th. JPMorgan Chase & Co. raised their target price on International Business Machines from $312.00 to $317.00 and gave the company a "neutral" rating in a report on Thursday, January 29th. Oppenheimer set a $380.00 target price on International Business Machines and gave the company an "outperform" rating in a research report on Thursday, January 29th. Finally, Jefferies Financial Group reiterated a "buy" rating on shares of International Business Machines in a research note on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $320.87.

International Business Machines Stock Down 2.1%

International Business Machines stock opened at $253.38 on Tuesday. The firm has a market capitalization of $237.68 billion, a P/E ratio of 22.72, a P/E/G ratio of 2.59 and a beta of 0.73. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 1.67. International Business Machines Corporation has a twelve month low of $214.50 and a twelve month high of $324.90. The stock's fifty day simple moving average is $280.69 and its 200-day simple moving average is $284.68.

International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results on Wednesday, January 28th. The technology company reported $4.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.33 by $0.19. International Business Machines had a return on equity of 38.15% and a net margin of 15.69%.The firm had revenue of $19.69 billion during the quarter, compared to analyst estimates of $19.23 billion. During the same period last year, the business posted $3.92 earnings per share. International Business Machines's revenue was up 12.2% compared to the same quarter last year. As a group, equities analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 10th will be paid a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Tuesday, February 10th. International Business Machines's dividend payout ratio is presently 60.27%.

Insider Activity at International Business Machines

In other news, Director Michael Miebach purchased 434 shares of the firm's stock in a transaction that occurred on Wednesday, February 25th. The stock was bought at an average price of $233.33 per share, for a total transaction of $101,265.22. Following the completion of the purchase, the director directly owned 434 shares of the company's stock, valued at $101,265.22. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David N. Farr purchased 1,000 shares of the stock in a transaction on Friday, January 30th. The shares were purchased at an average price of $304.00 per share, with a total value of $304,000.00. Following the acquisition, the director directly owned 9,258 shares in the company, valued at $2,814,432. This represents a 12.11% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders purchased 1,484 shares of company stock worth $417,157. 0.18% of the stock is owned by corporate insiders.

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.

Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Corporation (NYSE:IBM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.