Cardinal Capital Management cut its position in shares of International Business Machines Corp. (NYSE:IBM) by 5.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,818 shares of the technology company’s stock after selling 1,648 shares during the period. International Business Machines accounts for about 1.4% of Cardinal Capital Management’s investment portfolio, making the stock its 24th largest position. Cardinal Capital Management’s holdings in International Business Machines were worth $4,575,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. ETF Managers Group LLC purchased a new stake in shares of International Business Machines during the 2nd quarter worth about $121,000. Price Wealth Management Inc. purchased a new stake in shares of International Business Machines during the 4th quarter worth about $122,000. Cerebellum GP LLC purchased a new stake in shares of International Business Machines during the 4th quarter worth about $126,000. Horan Capital Advisors LLC. purchased a new stake in shares of International Business Machines during the 3rd quarter worth about $136,000. Finally, Risk Paradigm Group LLC purchased a new stake in shares of International Business Machines during the 2nd quarter worth about $165,000. 56.99% of the stock is owned by institutional investors.
In other news, insider Diane J. Gherson sold 5,000 shares of International Business Machines stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $156.00, for a total transaction of $780,000.00. Following the sale, the insider now owns 20,581 shares of the company’s stock, valued at approximately $3,210,636. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederick H. Waddell acquired 610 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The shares were purchased at an average cost of $163.38 per share, for a total transaction of $99,661.80. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by company insiders.
A number of equities research analysts have recently weighed in on the company. Cantor Fitzgerald reaffirmed a “hold” rating and set a $152.00 price target on shares of International Business Machines in a research note on Friday, January 19th. Zacks Investment Research downgraded International Business Machines from a “hold” rating to a “sell” rating in a research note on Tuesday, December 19th. JPMorgan Chase & Co. set a $167.00 price target on International Business Machines and gave the stock a “neutral” rating in a research note on Friday, January 19th. Vetr raised International Business Machines from a “buy” rating to a “strong-buy” rating and set a $170.25 price objective on the stock in a research note on Monday, November 27th. Finally, Goldman Sachs set a $170.00 price objective on International Business Machines and gave the company a “neutral” rating in a research note on Friday, January 19th. Six 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. The stock currently has an average rating of “Hold” and an average price target of $166.01.
Shares of International Business Machines Corp. (IBM) opened at $157.35 on Tuesday. The stock has a market capitalization of $147,626.36, a P/E ratio of 11.59, a price-to-earnings-growth ratio of 2.34 and a beta of 0.94. The company has a quick ratio of 1.29, a current ratio of 1.33 and a debt-to-equity ratio of 2.25. International Business Machines Corp. has a fifty-two week low of $139.13 and a fifty-two week high of $176.33.
International Business Machines (NYSE:IBM) last released its earnings results on Thursday, January 18th. The technology company reported $5.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $5.17 by $0.01. The firm had revenue of $22.54 billion for the quarter, compared to analyst estimates 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 revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $5.01 EPS. equities research analysts forecast that International Business Machines Corp. will post 13.83 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 10th. Stockholders of record on Friday, February 9th were issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend was Thursday, February 8th. International Business Machines’s payout ratio is presently 98.20%.
WARNING: This article was originally posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this article on another publication, it was copied illegally and reposted in violation of US and international copyright & trademark laws. The correct version of this article can be viewed at https://www.dispatchtribunal.com/2018/03/20/international-business-machines-corp-ibm-shares-sold-by-cardinal-capital-management.html.
International Business Machines 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).
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.