NorthRock Partners LLC Acquires 17,661 Shares of International Business Machines Co. (NYSE:IBM)

NorthRock Partners LLC grew its holdings in International Business Machines Co. (NYSE:IBM) by 488.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,274 shares of the technology company’s stock after acquiring an additional 17,661 shares during the quarter. NorthRock Partners LLC’s holdings in International Business Machines were worth $4,677,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Treasurer of the State of North Carolina raised its position in shares of International Business Machines by 0.8% during the fourth quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company’s stock valued at $108,942,000 after buying an additional 4,131 shares during the last quarter. Blue Zone Wealth Advisors LLC bought a new position in International Business Machines during the fourth quarter valued at about $242,000. Brady Martz Wealth Solutions LLC acquired a new position in International Business Machines in the 4th quarter valued at approximately $1,940,000. Tranquilli Financial Advisor LLC bought a new stake in shares of International Business Machines in the 4th quarter worth approximately $373,000. Finally, Truist Financial Corp grew its holdings in shares of International Business Machines by 6.5% during the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock worth $178,296,000 after purchasing an additional 49,591 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Activity

In other news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the transaction, the senior vice president now directly owns 45,007 shares in the company, valued at $11,387,221.07. This trade represents a 37.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.18% of the company’s stock.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $258.55 on Wednesday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The firm has a 50 day simple moving average of $243.26 and a 200 day simple moving average of $235.35. International Business Machines Co. has a fifty-two week low of $163.53 and a fifty-two week high of $266.45. The firm has a market cap of $240.30 billion, a P/E ratio of 40.34, a P/E/G ratio of 5.81 and a beta of 0.64.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.42 by $0.18. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The company had revenue of $14.54 billion during the quarter, compared to analysts’ expectations of $14.41 billion. During the same period last year, the firm earned $1.68 EPS. The business’s revenue for the quarter was up .5% on a year-over-year basis. Sell-side analysts predict that International Business Machines Co. 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 will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be given a dividend of $1.68 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a yield of 2.60%. International Business Machines’s dividend payout ratio is presently 115.66%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on IBM shares. KGI Securities set a $242.00 target price on International Business Machines and gave the company a “hold” rating in a research note on Thursday, April 24th. BMO Capital Markets reissued a “market perform” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Citigroup reaffirmed an “outperform” rating on shares of International Business Machines in a report on Saturday. Morgan Stanley lowered their target price on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. Finally, Bank of America raised their price target on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $248.50.

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.