Alpha Omega Wealth Management LLC Has $4.12 Million Position in IBM (IBM)

Alpha Omega Wealth Management LLC lifted its holdings in IBM (NYSE:IBM) by 6,589.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,227 shares of the technology company’s stock after acquiring an additional 26,820 shares during the period. IBM makes up approximately 1.8% of Alpha Omega Wealth Management LLC’s portfolio, making the stock its 12th biggest position. Alpha Omega Wealth Management LLC’s holdings in IBM were worth $4,117,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Swedbank raised its position in shares of IBM by 214.6% in the 3rd quarter. Swedbank now owns 1,123,724 shares of the technology company’s stock worth $169,918,000 after acquiring an additional 766,478 shares in the last quarter. Coastline Trust Co raised its position in shares of IBM by 14.7% in the 2nd quarter. Coastline Trust Co now owns 19,353 shares of the technology company’s stock worth $2,704,000 after acquiring an additional 2,475 shares in the last quarter. Schroder Investment Management Group raised its position in shares of IBM by 24.1% in the 2nd quarter. Schroder Investment Management Group now owns 1,854,109 shares of the technology company’s stock worth $259,649,000 after acquiring an additional 359,868 shares in the last quarter. Viking Fund Management LLC raised its position in shares of IBM by 3.8% in the 3rd quarter. Viking Fund Management LLC now owns 27,000 shares of the technology company’s stock worth $4,083,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Adams Asset Advisors LLC raised its position in shares of IBM by 14.0% in the 3rd quarter. Adams Asset Advisors LLC now owns 48,705 shares of the technology company’s stock worth $7,364,000 after acquiring an additional 5,970 shares in the last quarter. 55.50% of the stock is owned by hedge funds and other institutional investors.

Several analysts have recently commented on IBM shares. Societe Generale set a $149.00 target price on IBM and gave the company a “sell” rating in a research note on Thursday, July 19th. Wedbush restated a “neutral” rating and issued a $185.00 target price on shares of IBM in a research note on Thursday, July 19th. Zacks Investment Research upgraded IBM from a “sell” rating to a “hold” rating in a research note on Thursday, October 18th. 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. Finally, BMO Capital Markets reduced their target price on IBM from $175.00 to $172.00 and set a “$149.24” rating for the company in a research note on Thursday, July 19th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $165.02.

IBM stock opened at $116.83 on Friday. The stock has a market cap of $105.33 billion, a price-to-earnings ratio of 8.47, a P/E/G ratio of 1.68 and a beta of 0.87. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.31 and a quick ratio of 1.26. IBM has a 52-week low of $114.09 and a 52-week high of $171.13.

IBM (NYSE:IBM) last released its quarterly earnings results on Tuesday, October 16th. The technology company reported $3.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.40 by $0.02. The business had revenue of $18.76 billion during the quarter, compared to the consensus estimate of $19.04 billion. IBM had a return on equity of 69.98% and a net margin of 7.12%. The company’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.30 EPS. On average, analysts forecast that IBM will post 13.81 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 9th will be paid a dividend of $1.57 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $6.28 dividend on an annualized basis and a yield of 5.38%. IBM’s dividend payout ratio (DPR) is currently 45.51%.

IBM declared that its board has initiated a share repurchase plan on Tuesday, October 30th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the technology company to buy up to 3.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

IBM 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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Institutional Ownership by Quarter for IBM (NYSE:IBM)

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