Axxcess Wealth Management LLC Grows Holdings in International Business Machines Co. (NYSE:IBM)

Axxcess Wealth Management LLC raised its position in shares of International Business Machines Co. (NYSE:IBM) by 11.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 SEC filing.

A number of other hedge funds have also modified their holdings of the company. Vontobel Holding Ltd. increased its holdings in shares of International Business Machines by 20.3% in the fourth quarter. Vontobel Holding Ltd. now owns 477,193 shares of the technology company’s stock worth $78,045,000 after purchasing an additional 80,474 shares during the last quarter. Natixis Advisors L.P. boosted its position in shares of International Business Machines by 18.1% during the 3rd quarter. Natixis Advisors L.P. now owns 372,307 shares of the technology company’s stock valued at $52,235,000 after acquiring an additional 57,170 shares during the last quarter. Herold Advisors Inc. grew its position in International Business Machines by 3.2% in the third quarter. Herold Advisors Inc. now owns 21,880 shares of the technology company’s stock worth $3,070,000 after acquiring an additional 688 shares in the last quarter. Tsfg LLC increased its stake in International Business Machines by 40.5% during the fourth quarter. Tsfg LLC now owns 378 shares of the technology company’s stock worth $62,000 after acquiring an additional 109 shares during the last quarter. Finally, Auxano Advisors LLC lifted its stake in shares of International Business Machines by 4.8% in the 4th quarter. Auxano Advisors LLC now owns 3,398 shares of the technology company’s stock valued at $556,000 after purchasing an additional 156 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Royal Bank of Canada boosted 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. Evercore upgraded International Business Machines from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $165.00 to $200.00 in a research report on Friday, January 19th. Evercore ISI upgraded International Business Machines from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $165.00 to $200.00 in a report on Friday, January 19th. BMO Capital Markets dropped their price objective on International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a report on Thursday, April 25th. Finally, JPMorgan Chase & Co. decreased their target price on International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Three investment 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. According to MarketBeat, International Business Machines presently has a consensus rating of “Hold” and an average target price of $181.29.

International Business Machines Stock Up 0.6 %

IBM stock traded up $1.02 on Friday, hitting $165.71. 3,400,405 shares of the company’s stock were exchanged, compared to its average volume of 4,768,629. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13. The stock has a market cap of $152.22 billion, a P/E ratio of 18.77, a price-to-earnings-growth ratio of 4.08 and a beta of 0.74. The firm has a 50 day moving average price of $185.75 and a two-hundred 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.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. During the same period last year, the firm posted $1.36 EPS. International Business Machines’s revenue was up 1.5% on a year-over-year basis. As a group, equities research analysts expect that International Business Machines Co. will post 9.92 EPS for the current fiscal year.

International Business Machines Increases Dividend

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