Accuvest Global Advisors bought a new position in IBM (NYSE:IBM) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,470 shares of the technology company’s stock, valued at approximately $525,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Swedbank boosted its stake in shares of IBM by 214.6% in the third quarter. Swedbank now owns 1,123,724 shares of the technology company’s stock worth $169,918,000 after buying an additional 766,478 shares during the last quarter. Coastline Trust Co boosted its stake in shares of IBM by 14.7% in the second quarter. Coastline Trust Co now owns 19,353 shares of the technology company’s stock worth $2,704,000 after buying an additional 2,475 shares during the last quarter. Schroder Investment Management Group boosted its stake in shares of IBM by 24.1% in the second quarter. Schroder Investment Management Group now owns 1,854,109 shares of the technology company’s stock worth $259,649,000 after buying an additional 359,868 shares during the last quarter. Viking Fund Management LLC boosted its stake in shares of IBM by 3.8% in the third quarter. Viking Fund Management LLC now owns 27,000 shares of the technology company’s stock worth $4,083,000 after buying an additional 1,000 shares during the last quarter. Finally, Adams Asset Advisors LLC boosted its stake in shares of IBM by 14.0% in the third quarter. Adams Asset Advisors LLC now owns 48,705 shares of the technology company’s stock worth $7,364,000 after buying an additional 5,970 shares during the last quarter. Hedge funds and other institutional investors own 55.50% of the company’s stock.
A number of brokerages have recently commented on IBM. Zacks Investment Research downgraded IBM from a “hold” rating to a “sell” rating in a research note on Wednesday, October 3rd. Moffett Nathanson began coverage on IBM in a research note on Thursday, October 4th. They issued a “sell” rating and a $150.00 target price on the stock. JPMorgan Chase & Co. restated a “$149.24” rating and issued a $157.00 target price on shares of IBM in a research note on Thursday, July 19th. Societe Generale set a $149.00 target price on IBM and gave the stock a “sell” rating in a research note on Thursday, July 19th. Finally, Wedbush restated a “neutral” rating and issued a $185.00 target price on shares of IBM in a research note on Thursday, July 19th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $165.02.
NYSE IBM opened at $116.83 on Friday. The stock has a market capitalization of $105.33 billion, a P/E ratio of 8.47, a price-to-earnings-growth ratio of 1.68 and a beta of 0.87. IBM has a twelve month low of $114.09 and a twelve month high of $171.13. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 1.81.
IBM (NYSE:IBM) last released its quarterly earnings results on Tuesday, October 16th. The technology company reported $3.42 earnings per share for the quarter, topping analysts’ consensus estimates of $3.40 by $0.02. The company had revenue of $18.76 billion during the quarter, compared to analysts’ expectations of $19.04 billion. IBM had a return on equity of 69.98% and a net margin of 7.12%. IBM’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.30 EPS. As a group, equities research analysts expect that IBM will post 13.81 EPS for the current year.
IBM declared that its Board of Directors has approved a share repurchase plan on Tuesday, October 30th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the technology company to buy up to 3.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 9th will be issued a $1.57 dividend. The ex-dividend date is Thursday, November 8th. This represents a $6.28 dividend on an annualized basis and a yield of 5.38%. IBM’s payout ratio is 45.51%.
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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