Wright Investors Service Inc. trimmed its position in IBM (NYSE:IBM) by 43.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,312 shares of the technology company’s stock after selling 3,316 shares during the period. Wright Investors Service Inc.’s holdings in IBM were worth $662,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of IBM. ETF Managers Group LLC purchased a new position in shares of IBM in the 2nd quarter worth approximately $121,000. Price Wealth Management Inc. purchased a new position in IBM in the fourth quarter valued at approximately $122,000. Cerebellum GP LLC purchased a new position in IBM in the fourth quarter valued at approximately $126,000. Horan Capital Advisors LLC. purchased a new position in IBM in the third quarter valued at approximately $136,000. Finally, MPS Loria Financial Planners LLC purchased a new position in IBM in the second quarter valued at approximately $156,000. 57.02% of the stock is owned by institutional investors and hedge funds.
Shares of IBM stock opened at $150.57 on Friday. IBM has a 12-month low of $139.13 and a 12-month high of $172.93. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.29 and a current ratio of 1.33. The company has a market capitalization of $141,970.39, a P/E ratio of 10.91, a P/E/G ratio of 2.25 and a beta of 0.90.
IBM (NYSE:IBM) last issued its earnings results on Thursday, January 18th. The technology company reported $5.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.17 by $0.01. The company had revenue of $22.54 billion for the quarter, compared to analysts’ expectations of $22.03 billion. IBM had a net margin of 7.27% and a return on equity of 69.48%. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the company posted $5.01 earnings per share. equities analysts predict that IBM will post 13.82 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Saturday, March 10th. Stockholders of record on Friday, February 9th were paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 3.98%. The ex-dividend date of this dividend was Thursday, February 8th. IBM’s dividend payout ratio is presently 43.48%.
In related news, insider Diane J. Gherson sold 5,000 shares of IBM stock in a transaction on Monday, February 26th. The shares were sold at an average price of $156.00, for a total transaction of $780,000.00. Following the transaction, the insider now owns 20,581 shares in the company, valued at approximately $3,210,636. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Frederick H. Waddell bought 610 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were purchased at an average price of $163.38 per share, for a total transaction of $99,661.80. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.
IBM has been the topic of a number of analyst reports. Vetr cut shares of IBM from a “strong-buy” rating to a “buy” rating and set a $173.45 target price on the stock. in a report on Tuesday, December 12th. Zacks Investment Research cut shares of IBM from a “hold” rating to a “sell” rating in a report on Tuesday, December 19th. Royal Bank of Canada raised shares of IBM from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $160.00 to $180.00 in a report on Wednesday, January 3rd. They noted that the move was a valuation call. BMO Capital Markets reiterated a “hold” rating and issued a $175.00 target price on shares of IBM in a research report on Thursday, January 11th. They noted that the move was a valuation call. Finally, Societe Generale set a $152.00 target price on shares of IBM and gave the stock a “sell” rating in a research report on Friday, January 12th. Six equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $166.01.
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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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