Farther Finance Advisors LLC Grows Stake in International Business Machines Co. (NYSE:IBM)

Farther Finance Advisors LLC increased its position in shares of International Business Machines Co. (NYSE:IBM) by 47.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 26,892 shares of the technology company’s stock after buying an additional 8,664 shares during the quarter. Farther Finance Advisors LLC’s holdings in International Business Machines were worth $6,732,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in International Business Machines by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock worth $20,189,023,000 after buying an additional 1,539,888 shares during the last quarter. Geode Capital Management LLC grew its stake in International Business Machines by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company’s stock worth $4,589,145,000 after buying an additional 427,499 shares during the last quarter. Capital World Investors grew its stake in International Business Machines by 413.5% during the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock worth $2,634,577,000 after buying an additional 9,650,534 shares during the last quarter. Northern Trust Corp lifted its position in International Business Machines by 18.6% during the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock worth $2,384,275,000 after acquiring an additional 1,704,209 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in International Business Machines by 9.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,112,092 shares of the technology company’s stock worth $1,783,281,000 after acquiring an additional 722,582 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IBM. Oppenheimer began coverage on International Business Machines in a research report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price objective for the company. Royal Bank of Canada increased their price objective on International Business Machines from $276.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, May 15th. Wedbush reaffirmed an “outperform” rating and set a $300.00 price objective on shares of International Business Machines in a research report on Wednesday, May 7th. Jefferies Financial Group reaffirmed a “hold” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Finally, Wall Street Zen cut International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $250.31.

International Business Machines Stock Up 1.2%

IBM opened at $272.13 on Tuesday. 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 business has a 50 day simple moving average of $248.62 and a 200-day simple moving average of $242.46. The stock has a market capitalization of $252.92 billion, a P/E ratio of 42.45, a P/E/G ratio of 5.81 and a beta of 0.66. International Business Machines Co. has a 12 month low of $166.81 and a 12 month high of $273.47.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.18. The firm had revenue of $14.54 billion during the quarter, compared to analysts’ expectations of $14.41 billion. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. International Business Machines’s revenue was up .5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.68 earnings per share. On average, equities analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be issued a dividend of $1.68 per share. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.47%. International Business Machines’s payout ratio is currently 115.66%.

International Business Machines Company 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.