NorthRock Partners LLC Boosts Holdings in International Business Machines Co. (NYSE:IBM)

NorthRock Partners LLC boosted its position in shares of International Business Machines Co. (NYSE:IBM) by 9.2% in the third quarter, Holdings Channel.com reports. The firm owned 3,613 shares of the technology company’s stock after acquiring an additional 303 shares during the period. NorthRock Partners LLC’s holdings in International Business Machines were worth $799,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC acquired a new position in shares of International Business Machines in the second quarter worth about $7,160,000. Smith Thornton Advisors LLC acquired a new position in shares of International Business Machines in the 2nd quarter valued at approximately $702,000. Retirement Planning Group LLC purchased a new position in shares of International Business Machines during the 3rd quarter valued at approximately $618,000. GAMMA Investing LLC increased its stake in shares of International Business Machines by 42.4% in the second quarter. GAMMA Investing LLC now owns 9,370 shares of the technology company’s stock worth $1,621,000 after buying an additional 2,788 shares during the last quarter. Finally, F M Investments LLC raised its holdings in International Business Machines by 39.6% in the third quarter. F M Investments LLC now owns 61,938 shares of the technology company’s stock valued at $13,696,000 after acquiring an additional 17,554 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

IBM has been the subject of several recent analyst reports. Stifel Nicolaus raised their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. The Goldman Sachs Group boosted their price objective on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. Bernstein Bank increased their target price on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. BMO Capital Markets boosted their price target on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. Finally, Evercore ISI upped their price target on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $208.12.

International Business Machines Stock Performance

International Business Machines stock traded up $0.94 during midday trading on Tuesday, reaching $207.26. 404,511 shares of the stock traded hands, compared to its average volume of 4,244,252. International Business Machines Co. has a fifty-two week low of $145.28 and a fifty-two week high of $237.37. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The firm has a market cap of $191.64 billion, a price-to-earnings ratio of 30.03, a PEG ratio of 4.68 and a beta of 0.71. The firm has a fifty day moving average price of $217.01 and a two-hundred day moving average price of $191.53.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The business had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same period in the previous year, the firm posted $2.20 earnings per share. The business’s revenue was up 1.5% on a year-over-year basis. On average, equities research analysts forecast that International Business Machines Co. will post 10.11 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

International Business Machines Profile

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.