Frank Rimerman Advisors LLC Raises Position in International Business Machines Co. (NYSE:IBM)

Frank Rimerman Advisors LLC lifted its stake in shares of International Business Machines Co. (NYSE:IBM) by 5,244.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,074 shares of the technology company’s stock after buying an additional 21,661 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in International Business Machines were worth $3,818,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Gilbert & Cook Inc. grew its holdings in International Business Machines by 2.7% during the 4th quarter. Gilbert & Cook Inc. now owns 3,892 shares of the technology company’s stock valued at $637,000 after purchasing an additional 101 shares in the last quarter. Aveo Capital Partners LLC boosted its position in International Business Machines by 3.6% in the 4th quarter. Aveo Capital Partners LLC now owns 3,101 shares of the technology company’s stock valued at $507,000 after buying an additional 109 shares during the last quarter. Gryphon Financial Partners LLC grew its stake in shares of International Business Machines by 6.5% during the fourth quarter. Gryphon Financial Partners LLC now owns 2,394 shares of the technology company’s stock valued at $386,000 after acquiring an additional 147 shares in the last quarter. TrinityPoint Wealth LLC increased its position in shares of International Business Machines by 12.3% during the fourth quarter. TrinityPoint Wealth LLC now owns 3,909 shares of the technology company’s stock worth $639,000 after acquiring an additional 428 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its stake in shares of International Business Machines by 32.7% in the fourth quarter. Clearbridge Investments LLC now owns 45,653 shares of the technology company’s stock worth $7,467,000 after acquiring an additional 11,247 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. BMO Capital Markets lifted their price objective on International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Jefferies Financial Group increased their price objective on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Evercore ISI boosted their target price on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Finally, Royal Bank of Canada increased their price target on shares of International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $188.60.

International Business Machines Trading Up 1.8 %

NYSE:IBM opened at $217.70 on Friday. The firm has a market capitalization of $199.98 billion, a P/E ratio of 24.65, a P/E/G ratio of 4.67 and a beta of 0.70. The business has a 50 day simple moving average of $196.52 and a 200 day simple moving average of $184.33. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. International Business Machines Co. has a 12-month low of $135.87 and a 12-month high of $218.84.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.27. The company had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.18 earnings per share. Equities research analysts predict that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued a dividend of $1.67 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.07%. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

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.