Brandywine Global Investment Management LLC Has $126.20 Million Stake in IBM (IBM)
Brandywine Global Investment Management LLC increased its position in IBM (NYSE:IBM) by 2.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 822,590 shares of the technology company’s stock after purchasing an additional 22,425 shares during the quarter. Brandywine Global Investment Management LLC owned 0.09% of IBM worth $126,202,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Prime Capital Investment Advisors LLC acquired a new stake in IBM in the fourth quarter valued at $176,000. Caxton Associates LP raised its holdings in shares of IBM by 96.6% during the fourth quarter. Caxton Associates LP now owns 8,257 shares of the technology company’s stock worth $1,267,000 after purchasing an additional 4,057 shares during the period. Advisor Group Inc. raised its holdings in shares of IBM by 22.6% during the fourth quarter. Advisor Group Inc. now owns 94,614 shares of the technology company’s stock worth $14,524,000 after purchasing an additional 17,421 shares during the period. Dynamic Capital Management Ltd acquired a new stake in shares of IBM during the fourth quarter worth $400,000. Finally, Granite Springs Asset Management LLC acquired a new stake in shares of IBM during the fourth quarter worth $293,000. Institutional investors and hedge funds own 57.05% of the company’s stock.
A number of analysts have weighed in on the stock. BMO Capital Markets reissued a “hold” rating and set a $175.00 target price on shares of IBM in a report on Thursday, January 11th. They noted that the move was a valuation call. Zacks Investment Research raised shares of IBM from a “sell” rating to a “hold” rating in a report on Wednesday, January 10th. JPMorgan Chase set a $167.00 target price on shares of IBM and gave the stock a “neutral” rating in a report on Friday, January 19th. Pivotal Research set a $180.00 target price on shares of IBM and gave the stock a “buy” rating in a report on Thursday, January 18th. Finally, Wedbush reissued a “neutral” rating and set a $185.00 target price (up from $155.00) on shares of IBM in a report on Thursday, January 18th. They noted that the move was a valuation call. Seven analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $166.90.
IBM (NYSE:IBM) last announced its earnings results on Tuesday, April 17th. The technology company reported $2.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.42 by $0.03. The firm had revenue of $19.07 billion during the quarter, compared to analyst estimates of $18.80 billion. IBM had a net margin of 7.10% and a return on equity of 69.71%. IBM’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.35 EPS. research analysts forecast that IBM will post 13.83 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, June 9th. Investors of record on Thursday, May 10th will be given a $1.57 dividend. This represents a $6.28 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date of this dividend is Wednesday, May 9th. This is a positive change from IBM’s previous quarterly dividend of $1.50. IBM’s dividend payout ratio is currently 43.48%.
In related news, insider Diane J. Gherson sold 5,000 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $156.00, for a total value of $780,000.00. Following the completion of the transaction, the insider now owns 20,581 shares in the company, valued at approximately $3,210,636. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Erich Clementi sold 13,000 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $154.66, for a total transaction of $2,010,580.00. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.
IBM Company Profile
International Business Machines Corporation operates as an integrated technology and services company worldwide. Its Cognitive Solutions segment offers Watson, a cognitive computing platform that interacts in natural language, processes big data, and learns from interactions with people and computers.
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