International Business Machines Corporation $IBM Shares Bought by Occidental Asset Management LLC

Occidental Asset Management LLC raised its stake in International Business Machines Corporation (NYSE:IBM) by 903.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,604 shares of the technology company’s stock after buying an additional 11,348 shares during the period. Occidental Asset Management LLC’s holdings in International Business Machines were worth $3,556,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Mattson Financial Services LLC purchased a new position in shares of International Business Machines in the 3rd quarter valued at $852,000. Vise Technologies Inc. acquired a new stake in International Business Machines in the 2nd quarter valued at $16,565,000. Vanguard Group Inc. raised its position in International Business Machines by 2.1% in the second quarter. Vanguard Group Inc. now owns 95,051,475 shares of the technology company’s stock valued at $28,019,274,000 after purchasing an additional 1,913,708 shares during the period. Thames Capital Management LLC purchased a new stake in shares of International Business Machines in the second quarter worth about $2,710,000. Finally, CWM LLC grew its stake in shares of International Business Machines by 3.0% in the second quarter. CWM LLC now owns 122,623 shares of the technology company’s stock valued at $36,147,000 after buying an additional 3,537 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 2.6%

IBM stock opened at $305.82 on Friday. The firm has a market cap of $285.86 billion, a price-to-earnings ratio of 36.58, a PEG ratio of 2.96 and a beta of 0.70. International Business Machines Corporation has a 1-year low of $214.50 and a 1-year high of $324.90. The firm has a fifty day moving average price of $303.46 and a two-hundred day moving average price of $282.44. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.93 and a quick ratio of 0.89.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 22nd. The technology company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.45 by $0.20. International Business Machines had a net margin of 12.09% and a return on equity of 37.76%. The business had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.10 billion. During the same period in the previous year, the business posted $2.30 EPS. The company’s quarterly revenue was up 9.1% on a year-over-year basis. Research analysts predict that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th were issued a dividend of $1.68 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $6.72 annualized dividend and a dividend yield of 2.2%. International Business Machines’s payout ratio is 80.38%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IBM. Sanford C. Bernstein restated a “market perform” rating on shares of International Business Machines in a report on Wednesday, December 10th. UBS Group restated a “sell” rating on shares of International Business Machines in a research note on Tuesday, December 9th. Stifel Nicolaus lifted their price target on shares of International Business Machines from $295.00 to $325.00 and gave the stock a “buy” rating in a research note on Tuesday, December 9th. Royal Bank Of Canada boosted their price objective on shares of International Business Machines from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Monday, January 5th. Finally, Jefferies Financial Group upgraded International Business Machines from a “hold” rating to a “buy” rating and raised their target price for the company from $300.00 to $360.00 in a research note on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $303.38.

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.