Evanson Asset Management LLC Boosts Stake in International Business Machines Corporation (NYSE:IBM)

Evanson Asset Management LLC increased its stake in shares of International Business Machines Corporation (NYSE:IBM) by 12.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,528 shares of the technology company’s stock after buying an additional 272 shares during the quarter. Evanson Asset Management LLC’s holdings in International Business Machines were worth $629,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Vision Financial Markets LLC acquired a new position in shares of International Business Machines in the fourth quarter valued at about $31,000. Rialto Wealth Management LLC purchased a new stake in International Business Machines in the fourth quarter valued at approximately $35,000. Tacita Capital Inc increased its holdings in International Business Machines by 174.3% in the 4th quarter. Tacita Capital Inc now owns 192 shares of the technology company’s stock worth $42,000 after buying an additional 122 shares during the period. Measured Risk Portfolios Inc. purchased a new position in International Business Machines during the 4th quarter worth approximately $43,000. Finally, Park Square Financial Group LLC acquired a new stake in International Business Machines during the 4th quarter valued at approximately $43,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IBM has been the subject of several recent research reports. Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. BMO Capital Markets reiterated a “market perform” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Bank of America upped their target price on International Business Machines from $290.00 to $320.00 and gave the stock a “buy” rating in a research note on Wednesday. Wedbush reiterated an “outperform” rating and set a $300.00 price target on shares of International Business Machines in a research report on Wednesday, May 7th. Finally, Citigroup reissued an “outperform” rating on shares of International Business Machines in a report on Saturday, May 10th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines has an average rating of “Hold” and an average price target of $252.19.

International Business Machines Stock Up 0.0%

IBM stock opened at $283.15 on Friday. International Business Machines Corporation has a 52 week low of $170.41 and a 52 week high of $286.91. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. The firm has a 50-day simple moving average of $256.81 and a 200-day simple moving average of $245.20. The stock has a market capitalization of $263.16 billion, a P/E ratio of 48.74, a P/E/G ratio of 5.95 and a beta of 0.66.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.42 by $0.18. The company had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. International Business Machines’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the business earned $1.68 EPS. Equities analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were paid a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.37%. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s payout ratio is 115.66%.

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.