Legacy Private Trust Co. Cuts Stake in International Business Machines Corp. (IBM)

Legacy Private Trust Co. lowered its position in shares of International Business Machines Corp. (NYSE:IBM) by 11.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,794 shares of the technology company’s stock after selling 638 shares during the period. Legacy Private Trust Co.’s holdings in International Business Machines were worth $736,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Hugh Johnson Advisors LLC increased its stake in shares of International Business Machines by 0.9% during the second quarter. Hugh Johnson Advisors LLC now owns 1,403 shares of the technology company’s stock valued at $216,000 after buying an additional 12 shares during the period. Rench Wealth Management Inc. increased its stake in shares of International Business Machines by 1.0% during the second quarter. Rench Wealth Management Inc. now owns 1,486 shares of the technology company’s stock valued at $229,000 after buying an additional 14 shares during the period. Altavista Wealth Management Inc. increased its stake in shares of International Business Machines by 0.7% during the second quarter. Altavista Wealth Management Inc. now owns 2,193 shares of the technology company’s stock valued at $337,000 after buying an additional 15 shares during the period. Good Life Advisors LLC increased its stake in shares of International Business Machines by 0.6% during the second quarter. Good Life Advisors LLC now owns 2,953 shares of the technology company’s stock valued at $454,000 after buying an additional 17 shares during the period. Finally, Armor Investment Advisors LLC increased its stake in shares of International Business Machines by 0.4% during the second quarter. Armor Investment Advisors LLC now owns 4,624 shares of the technology company’s stock valued at $711,000 after buying an additional 20 shares during the period. Hedge funds and other institutional investors own 58.78% of the company’s stock.

Shares of International Business Machines Corp. (NYSE:IBM) opened at $153.96 on Thursday. The company has a quick ratio of 1.29, a current ratio of 1.33 and a debt-to-equity ratio of 2.25. The firm has a market capitalization of $143,645.80, a PE ratio of 11.22, a price-to-earnings-growth ratio of 2.27 and a beta of 0.94. International Business Machines Corp. has a twelve month low of $139.13 and a twelve month high of $182.55.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Thursday, January 18th. The technology company reported $5.18 earnings per share for the quarter, topping the consensus estimate of $5.17 by $0.01. The business had revenue of $22.54 billion during the quarter, compared to the consensus estimate of $22.03 billion. International Business Machines had a return on equity of 69.48% and a net margin of 7.27%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the company earned $5.01 earnings per share. sell-side analysts forecast that International Business Machines Corp. will post 13.83 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 10th. Shareholders of record on Friday, February 9th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 3.90%. The ex-dividend date is Thursday, February 8th. International Business Machines’s dividend payout ratio is presently 98.20%.

In other International Business Machines news, Director Frederick H. Waddell purchased 610 shares of the stock in a transaction on Wednesday, January 31st. The stock was acquired at an average price of $163.38 per share, with a total value of $99,661.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.23% of the stock is currently owned by company insiders.

A number of brokerages recently weighed in on IBM. BMO Capital Markets reaffirmed a “hold” rating and set a $175.00 price objective on shares of International Business Machines in a research report on Thursday, January 11th. They noted that the move was a valuation call. Zacks Investment Research raised International Business Machines from a “sell” rating to a “hold” rating in a research report on Wednesday, January 10th. Pivotal Research began coverage on International Business Machines in a research report on Friday, October 27th. They set a “buy” rating and a $180.00 price objective on the stock. Royal Bank of Canada reaffirmed a “buy” rating and set a $180.00 price objective on shares of International Business Machines in a research report on Friday, January 19th. Finally, JPMorgan Chase & Co. set a $167.00 price objective on International Business Machines and gave the company a “neutral” rating in a research report on Friday, January 19th. Seven research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the stock. International Business Machines has an average rating of “Hold” and a consensus target price of $164.37.

WARNING: “Legacy Private Trust Co. Cuts Stake in International Business Machines Corp. (IBM)” was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this news story on another site, it was stolen and republished in violation of United States and international copyright and trademark legislation. The legal version of this news story can be read at https://www.dispatchtribunal.com/2018/02/22/legacy-private-trust-co-cuts-stake-in-international-business-machines-corp-ibm.html.

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.

Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Corp. (NYSE:IBM).

Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

Receive News & Ratings for International Business Machines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Business Machines and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply