Quadrature Capital Ltd cut its holdings in shares of IBM (NYSE:IBM) by 69.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,972 shares of the technology company’s stock after selling 62,035 shares during the period. Quadrature Capital Ltd’s holdings in IBM were worth $4,140,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Martingale Asset Management L P lifted its position in shares of IBM by 2.5% during the 4th quarter. Martingale Asset Management L P now owns 432,295 shares of the technology company’s stock valued at $66,324,000 after acquiring an additional 10,399 shares during the period. Navellier & Associates Inc acquired a new position in shares of IBM during the 4th quarter valued at $2,058,000. Eaton Vance Management lifted its position in shares of IBM by 4.4% during the 4th quarter. Eaton Vance Management now owns 736,079 shares of the technology company’s stock valued at $112,929,000 after acquiring an additional 31,213 shares during the period. Allen Capital Group LLC acquired a new position in shares of IBM during the 4th quarter valued at $424,000. Finally, Capital Analysts LLC lifted its position in shares of IBM by 100.5% during the 4th quarter. Capital Analysts LLC now owns 1,129 shares of the technology company’s stock valued at $125,000 after acquiring an additional 566 shares during the period. Institutional investors and hedge funds own 57.01% of the company’s stock.
A number of research firms recently issued reports on IBM. BMO Capital Markets reiterated a “hold” rating and set 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. Zacks Investment Research upgraded shares of IBM from a “sell” rating to a “hold” rating in a research report on Wednesday, January 10th. Royal Bank of Canada reiterated a “buy” rating and set a $180.00 target price on shares of IBM in a research report on Friday, January 19th. JPMorgan Chase set a $167.00 price target on shares of IBM and gave the company a “neutral” rating in a research note on Friday, January 19th. Finally, Bank of America restated a “buy” rating and set a $200.00 price target on shares of IBM in a research note on Monday, March 26th. Seven equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eleven have assigned a buy rating to the company. IBM has an average rating of “Hold” and a consensus target price of $166.01.
NYSE IBM opened at $157.89 on Tuesday. IBM has a 1 year low of $139.13 and a 1 year high of $171.69. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.33 and a quick ratio of 1.29. The firm has a market capitalization of $144,356.22, a PE ratio of 11.44, a PEG ratio of 2.29 and a beta of 0.90.
IBM (NYSE:IBM) last posted its quarterly earnings results on Thursday, January 18th. The technology company reported $5.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $5.17 by $0.01. The company had revenue of $22.54 billion during the quarter, compared to analyst estimates of $22.03 billion. IBM had a net margin of 7.27% and a return on equity of 69.48%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.01 earnings per share. analysts forecast that IBM will post 13.83 earnings per share for the current fiscal year.
In related news, Director Frederick H. Waddell purchased 610 shares of IBM stock in a transaction that occurred on Wednesday, January 31st. The stock was bought at an average price of $163.38 per share, for a total transaction of $99,661.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $780,000.00. Following the transaction, the insider now owns 20,581 shares of the company’s stock, valued at approximately $3,210,636. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by corporate insiders.
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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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