Mission Wealth Management LP Boosts Holdings in International Business Machines Co. (NYSE:IBM)

Mission Wealth Management LP increased its holdings in International Business Machines Co. (NYSE:IBM) by 5.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,540 shares of the technology company’s stock after buying an additional 959 shares during the quarter. Mission Wealth Management LP’s holdings in International Business Machines were worth $3,196,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Naples Money Management LLC purchased a new position in International Business Machines during the fourth quarter valued at approximately $28,000. Briaud Financial Planning Inc purchased a new position in International Business Machines during the third quarter valued at approximately $31,000. Stone House Investment Management LLC raised its position in shares of International Business Machines by 971.4% during the third quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after buying an additional 204 shares during the last quarter. Financial Gravity Asset Management Inc. raised its position in shares of International Business Machines by 67.9% during the third quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock valued at $32,000 after buying an additional 91 shares during the last quarter. Finally, Cordant Inc. raised its position in shares of International Business Machines by 753.3% during the fourth quarter. Cordant Inc. now owns 256 shares of the technology company’s stock valued at $42,000 after buying an additional 226 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on IBM shares. Royal Bank of Canada lifted 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. Sanford C. Bernstein lifted their price objective on shares of International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a research report on Thursday, March 7th. Wedbush boosted their price target on shares of International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Stifel Nicolaus restated a “buy” rating and issued a $190.00 price target on shares of International Business Machines in a research report on Wednesday, April 17th. Finally, BMO Capital Markets reduced their price target on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating on the stock in a research report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $184.08.

International Business Machines Trading Down 0.7 %

IBM stock opened at $166.19 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. International Business Machines Co. has a twelve month low of $120.55 and a twelve month high of $199.18. The stock has a market capitalization of $152.35 billion, a price-to-earnings ratio of 18.82, a price-to-earnings-growth ratio of 4.10 and a beta of 0.70. The firm’s fifty day simple moving average is $186.85 and its two-hundred day simple moving average is $170.91.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.08. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.53 billion. During the same quarter in the previous year, the business posted $1.36 earnings per share. The business’s revenue was up 1.5% compared to the same quarter last year. As a group, analysts anticipate that International Business Machines Co. will post 9.98 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be paid a dividend of $1.67 per share. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 dividend on an annualized basis and a dividend yield of 4.02%. International Business Machines’s payout ratio is currently 75.20%.

About International Business Machines

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.