Assetmark Inc. has increased its holdings in International Business Machines Co. by 25.1% in the fourth quarter, according to a recent Form 13F filing with the Securities and Exchange Commission. The company now owns 33,152 shares of IBM, valued at $5,422,000. Other institutional investors, such as Desjardins Global Asset Management Inc., Calamos Wealth Management LLC, Avion Wealth, Northwest Capital Management Inc., and Financial Security Advisor Inc., have also bought and sold shares of IBM. In total, institutional investors and hedge funds own 58.96% of the company’s shares.
Several brokerage firms have intervened in IBM’s stock rating, with BNP Paribas issuing an “underperform” rating and a price target of $145.00. Morgan Stanley, JPMorgan Chase & Co., Royal Bank of Canada, and Bank of America have also provided ratings and price targets for the company. Overall, the consensus rating for IBM is “Hold” with an average price target of $181.29.
IBM’s stock opened at $170.70 on Friday, with a 50-day simple moving average of $179.53 and a 200-day simple moving average of $173.71. The company has a market capitalization of $156.81 billion, a P/E ratio of 19.33, and a beta of 0.74. In its latest earnings report on April 30th, IBM reported earnings per share of $1.68, beating analysts’ estimates. The company had revenue of $14.46 billion for the quarter, a 1.5% increase year over year.
International Business Machines also announced an increased quarterly dividend, with shareholders receiving $1.67 per share. This represents an annualized dividend of $6.68 and a yield of 3.91%. The company’s dividend payout ratio is currently 75.65%.
International Business Machines Corporation provides integrated solutions and services globally through its software, consulting, infrastructure, and financing segments. The software segment offers hybrid cloud and AI platforms to facilitate digital and AI transformations for customers.
For more information on IBM and its stock performance, investors can visit HoldingsChannel.com for the latest 13F filings and insider trading information. Additionally, MarketBeat.com offers a free daily email newsletter for news and ratings related to international trading machines.
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