Pineno Levin & Ford Asset Management Inc. boosted its stake in IBM (NYSE:IBM) by 1.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 28,645 shares of the technology company’s stock after purchasing an additional 456 shares during the period. IBM comprises approximately 1.8% of Pineno Levin & Ford Asset Management Inc.’s portfolio, making the stock its 19th largest position. Pineno Levin & Ford Asset Management Inc.’s holdings in IBM were worth $4,395,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the stock. ETF Managers Group LLC acquired a new position in shares of IBM in the second quarter worth $121,000. Price Wealth Management Inc. acquired a new position in shares of IBM in the fourth quarter worth $122,000. Cerebellum GP LLC purchased a new stake in shares of IBM during the 4th quarter worth $126,000. Horan Capital Advisors LLC. purchased a new stake in shares of IBM during the 3rd quarter worth $136,000. Finally, MPS Loria Financial Planners LLC purchased a new stake in shares of IBM during the 2nd quarter worth $156,000. Hedge funds and other institutional investors own 57.02% of the company’s stock.
In other news, insider Diane J. Gherson sold 5,000 shares of the business’s stock in a transaction dated 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 directly owns 20,581 shares in the company, valued at $3,210,636. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frederick H. Waddell purchased 610 shares of the company’s stock in a transaction dated 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. 0.17% of the stock is currently owned by corporate insiders.
Shares of NYSE:IBM traded down $3.46 on Friday, reaching $150.57. The company’s stock had a trading volume of 3,672,919 shares, compared to its average volume of 4,293,600. IBM has a 52-week low of $139.13 and a 52-week 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 stock has a market capitalization of $138,700.28, a price-to-earnings ratio of 10.91, a PEG ratio of 2.20 and a beta of 0.90.
IBM (NYSE:IBM) last announced its earnings results on Thursday, January 18th. The technology company reported $5.18 EPS for the quarter, beating analysts’ consensus estimates of $5.17 by $0.01. IBM had a net margin of 7.27% and a return on equity of 69.48%. The business had revenue of $22.54 billion during the quarter, compared to analysts’ expectations of $22.03 billion. During the same period in the prior year, the company earned $5.01 earnings per share. The business’s revenue was up 3.6% compared to the same quarter last year. research analysts forecast that IBM will post 13.82 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Saturday, March 10th. Stockholders of record on Friday, February 9th were issued a $1.50 dividend. The ex-dividend date was Thursday, February 8th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.98%. IBM’s payout ratio is 43.48%.
Several research firms have recently issued reports on IBM. BMO Capital Markets reaffirmed a “hold” rating and set a $175.00 price objective on shares of IBM in a research report on Thursday, January 11th. They noted that the move was a valuation call. Bank of America reaffirmed a “buy” rating and set a $200.00 price objective on shares of IBM in a research report on Monday, March 26th. Zacks Investment Research raised shares of IBM from a “sell” rating to a “hold” rating in a research report on Wednesday, January 10th. Royal Bank of Canada reaffirmed a “buy” rating and set a $180.00 price objective on shares of IBM in a research report on Friday, January 19th. Finally, JPMorgan Chase set a $167.00 price objective on shares of IBM and gave the stock a “neutral” rating in a research report on Friday, January 19th. Six research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus 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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