Evoke Wealth LLC Has $441,000 Stake in International Business Machines Co. (NYSE:IBM)

Evoke Wealth LLC lifted its holdings in shares of International Business Machines Co. (NYSE:IBMFree Report) by 31.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,694 shares of the technology company’s stock after buying an additional 640 shares during the quarter. Evoke Wealth LLC’s holdings in International Business Machines were worth $441,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Naples Money Management LLC acquired a new position in International Business Machines during the fourth quarter valued at approximately $28,000. Stone House Investment Management LLC grew its holdings in 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 purchasing an additional 204 shares during the period. Financial Gravity Asset Management Inc. grew its holdings in 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 purchasing an additional 91 shares during the period. Cordant Inc. grew its holdings in 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 purchasing an additional 226 shares during the period. Finally, Newton One Investments LLC acquired a new position in International Business Machines during the fourth quarter valued at approximately $45,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Morgan Stanley cut their price target on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Wedbush lifted their price target on shares of International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price target on shares of International Business Machines in a research note on Wednesday, May 22nd. BNP Paribas initiated coverage on shares of International Business Machines in a research note on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 price target on the stock. Finally, StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Three analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $181.29.

Check Out Our Latest Stock Report on International Business Machines

International Business Machines Price Performance

Shares of IBM opened at $166.85 on Monday. The company has a market cap of $153.27 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 4.11 and a beta of 0.72. International Business Machines Co. has a 1-year low of $127.46 and a 1-year high of $199.18. The company’s fifty day simple moving average is $176.70 and its 200 day simple moving average is $174.88. 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:IBMGet Free Report) 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. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.36 earnings per share. On average, research analysts forecast that International Business Machines Co. will post 9.91 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 4.00%. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date of this dividend is Thursday, May 9th. International Business Machines’s payout ratio is presently 75.65%.

About International Business Machines

(Free Report)

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.

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Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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