International Business Machines Corporation (NYSE:IBM) Shares Purchased by Assetmark Inc.

Key Points

• Assetmark Inc. has increased its stake in International Business Machines Corporation (IBM) by 5.7%, now holding 43,008 shares valued at approximately $10.69 million as of the end of the last quarter.
• IBM reported $2.80 earnings per share for the last quarter, exceeding analysts' expectations of $2.65, with revenues of $16.98 billion.
• The company recently announced a quarterly dividend increase to $1.68 per share, resulting in an annualized yield of 2.59%, with the current payout ratio at 109.09%.

Assetmark Inc. boosted its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 5.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,008 shares of the technology company's stock after acquiring an additional 2,320 shares during the period. Assetmark Inc.'s holdings in International Business Machines were worth $10,694,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its holdings in shares of International Business Machines by 12.4% during the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock valued at $4,619,000 after acquiring an additional 2,323 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in shares of International Business Machines by 14.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 533,928 shares of the technology company's stock valued at $117,373,000 after acquiring an additional 68,760 shares in the last quarter. Orion Portfolio Solutions LLC boosted its holdings in shares of International Business Machines by 10.0% during the 4th quarter. Orion Portfolio Solutions LLC now owns 54,663 shares of the technology company's stock valued at $12,017,000 after acquiring an additional 4,985 shares in the last quarter. RiverFront Investment Group LLC boosted its holdings in shares of International Business Machines by 4.6% during the 4th quarter. RiverFront Investment Group LLC now owns 3,450 shares of the technology company's stock valued at $758,000 after acquiring an additional 151 shares in the last quarter. Finally, Maridea Wealth Management LLC acquired a new stake in shares of International Business Machines during the 4th quarter valued at $221,000. Institutional investors own 58.96% of the company's stock.

International Business Machines Trading Down 0.3%

Shares of IBM stock traded down $0.81 during trading hours on Friday, reaching $259.70. 7,751,998 shares of the stock were exchanged, compared to its average volume of 4,613,670. International Business Machines Corporation has a 12-month low of $181.81 and a 12-month high of $296.16. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00. The company's 50-day moving average price is $277.69 and its 200-day moving average price is $256.27. The firm has a market capitalization of $241.36 billion, a price-to-earnings ratio of 42.16, a price-to-earnings-growth ratio of 4.01 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, topping analysts' consensus estimates of $2.65 by $0.15. The firm had revenue of $16.98 billion during the quarter, compared to analysts' expectations of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The firm's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.43 EPS. As a group, equities 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 disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were paid a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.59%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is 109.09%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on IBM shares. Wedbush lifted their target price on International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Morgan Stanley cut their target price 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. BMO Capital Markets lifted their target price on International Business Machines from $260.00 to $300.00 and gave the stock a "market perform" rating in a report on Friday, July 18th. Finally, Wall Street Zen raised International Business Machines from a "hold" rating to a "buy" rating in a research report on Saturday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $268.75.

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.