Assetmark Inc. Has $20.77 Million Stock Holdings in International Business Machines Corporation $IBM

Assetmark Inc. increased its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 14.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 73,846 shares of the technology company's stock after purchasing an additional 9,388 shares during the quarter. Assetmark Inc.'s holdings in International Business Machines were worth $20,766,000 as of its most recent SEC filing. Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Basepoint Wealth LLC acquired a new position in International Business Machines during the fourth quarter worth approximately $25,000. Cornerstone Financial Management LLC acquired a new stake in International Business Machines during the 4th quarter valued at $28,000. SWAN Capital LLC bought a new position in shares of International Business Machines in the third quarter valued at about $28,000. Bare Financial Services Inc lifted its stake in shares of International Business Machines by 114.6% during the 2nd quarter. Bare Financial Services Inc now owns 103 shares of the technology company's stock worth $29,000 after buying an additional 55 shares during the last quarter. Portus Wealth Advisors LLC bought a new stake in shares of International Business Machines during the 1st quarter worth about $26,000. Institutional investors own 58.96% of the company's stock.

Several equities analysts have recently commented on the company. The Goldman Sachs Group set a $270.00 target price on International Business Machines in a research report on Thursday, July 23rd. Craig Hallum started coverage on shares of International Business Machines in a research report on Wednesday, August 19th. They set a “buy” rating for the company. Citigroup dropped their target price on shares of International Business Machines from $255.00 to $245.00 and set a “buy” rating for the company in a report on Friday, July 24th. Morgan Stanley dropped their target price on International Business Machines from $293.00 to $190.00 and set an “equal weight” rating for the company in a research report on Thursday, July 23rd. Argus cut their price objective on International Business Machines from $360.00 to $280.00 and set a “buy” rating on the stock in a research note on Thursday, July 16th. Sixteen research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $265.40.

In related news, SVP Robert David Thomas sold 25,000 shares of the stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $230.32, for a total transaction of $5,758,000.00. Following the sale, the senior vice president directly owned 47,800 shares of the company's stock, valued at $11,009,296. This trade represents a 34.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.27% of the stock is currently owned by insiders.

IBM stock opened at $235.78 on Friday. The firm has a 50 day moving average of $244.57 and a 200-day moving average of $248.65. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.63. The firm has a market capitalization of $222.14 bill...