International Business Machines Corp. (IBM) Shares Bought by Stonebridge Capital Advisors LLC
Stonebridge Capital Advisors LLC raised its holdings in International Business Machines Corp. (NYSE:IBM) by 6.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,064 shares of the technology company’s stock after purchasing an additional 625 shares during the period. Stonebridge Capital Advisors LLC’s holdings in International Business Machines were worth $1,460,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of IBM. Herndon Capital Management LLC lifted its position in shares of International Business Machines by 39.0% in the second quarter. Herndon Capital Management LLC now owns 695 shares of the technology company’s stock valued at $107,000 after acquiring an additional 195 shares in the last quarter. ETF Managers Group LLC purchased a new position in shares of International Business Machines in the second quarter valued at approximately $121,000. Horan Capital Advisors LLC. purchased a new position in shares of International Business Machines in the third quarter valued at approximately $136,000. Peddock Capital Advisors LLC lifted its position in shares of International Business Machines by 7.3% in the second quarter. Peddock Capital Advisors LLC now owns 912 shares of the technology company’s stock valued at $140,000 after acquiring an additional 62 shares in the last quarter. Finally, CKW Financial Group lifted its position in shares of International Business Machines by 0.3% in the second quarter. CKW Financial Group now owns 941 shares of the technology company’s stock valued at $146,000 after acquiring an additional 3 shares in the last quarter. 57.08% of the stock is currently owned by institutional investors.
In other news, Director Frederick H. Waddell acquired 610 shares of the company’s stock in a transaction dated Wednesday, January 31st. The stock was acquired at an average cost of $163.38 per share, with a total value of $99,661.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.23% of the company’s stock.
International Business Machines (NYSE:IBM) last posted its earnings results on Thursday, January 18th. The technology company reported $5.18 EPS for the quarter, beating the Zacks’ consensus estimate of $5.17 by $0.01. International Business Machines had a return on equity of 69.48% and a net margin of 7.27%. The company had revenue of $22.54 billion for the quarter, compared to the consensus estimate of $22.03 billion. During the same quarter in the previous year, the business earned $5.01 earnings per share. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. equities research analysts expect that International Business Machines Corp. will post 13.82 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 10th. Stockholders of record on Friday, February 9th will be paid a $1.50 dividend. The ex-dividend date is Thursday, February 8th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.98%. International Business Machines’s payout ratio is presently 98.20%.
A number of equities analysts recently commented on IBM shares. Royal Bank of Canada reiterated a “hold” rating and set a $160.00 price objective on shares of International Business Machines in a research report on Wednesday, November 15th. Barclays upgraded International Business Machines from an “underweight” rating to an “overweight” rating and lifted their price objective for the stock from $133.00 to $192.00 in a research report on Wednesday, January 17th. Societe Generale set a $149.00 price objective on International Business Machines and gave the stock a “sell” rating in a research report on Friday, January 19th. Goldman Sachs Group set a $170.00 price objective on International Business Machines and gave the stock a “neutral” rating in a research report on Wednesday, October 18th. Finally, Vetr upgraded International Business Machines from a “buy” rating to a “strong-buy” rating and set a $173.45 price objective on the stock in a research report on Wednesday, December 6th. Seven investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $164.37.
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International Business Machines Company Profile
International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.
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