Axxcess Wealth Management LLC Raises Position in International Business Machines Co. (NYSE:IBM)

Axxcess Wealth Management LLC boosted its holdings in International Business Machines Co. (NYSE:IBM) by 11.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,357 shares of the technology company’s stock after purchasing an additional 1,517 shares during the quarter. Axxcess Wealth Management LLC’s holdings in International Business Machines were worth $2,512,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Naples Money Management LLC acquired a new stake in shares of International Business Machines in the fourth quarter worth approximately $28,000. Briaud Financial Planning Inc acquired a new stake in shares of International Business Machines during the 3rd quarter worth $31,000. Stone House Investment Management LLC raised its position in shares of International Business Machines by 971.4% in the 3rd quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock worth $32,000 after buying an additional 204 shares during the period. Financial Gravity Asset Management Inc. boosted its holdings in International Business Machines by 67.9% in the third quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock valued at $32,000 after acquiring an additional 91 shares during the last quarter. Finally, Cordant Inc. increased its stake in International Business Machines by 753.3% during the fourth quarter. Cordant Inc. now owns 256 shares of the technology company’s stock worth $42,000 after acquiring an additional 226 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IBM has been the subject of a number of research reports. Sanford C. Bernstein boosted their target price on International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a report on Thursday, March 7th. Wedbush boosted their price objective on shares of International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Evercore raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and raised their target price for the company from $165.00 to $200.00 in a research note on Friday, January 19th. Stifel Nicolaus reiterated a “buy” rating and issued a $190.00 price target on shares of International Business Machines in a report on Wednesday, April 17th. Finally, Royal Bank of Canada boosted their price objective on International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Three equities research 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $181.29.

International Business Machines Stock Up 0.6 %

International Business Machines stock traded up $1.02 during midday trading on Friday, hitting $165.71. The stock had a trading volume of 3,400,405 shares, compared to its average volume of 4,768,629. The business has a fifty day moving average price of $185.75 and a 200 day moving average price of $171.01. International Business Machines Co. has a 12 month low of $120.55 and a 12 month high of $199.18. The stock has a market cap of $152.22 billion, a P/E ratio of 18.77, a P/E/G ratio of 4.08 and a beta of 0.74. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32.

International Business Machines (NYSE:IBM) last issued its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The company had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.53 billion. During the same period in the prior year, the company earned $1.36 earnings per share. The firm’s revenue was up 1.5% compared to the same quarter last year. Research analysts predict that International Business Machines Co. will post 9.92 EPS for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 4.03%. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date is Thursday, May 9th. International Business Machines’s dividend payout ratio is presently 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.