John G Ullman & Associates Inc. decreased its holdings in IBM (NYSE:IBM) by 1.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 48,626 shares of the technology company’s stock after selling 790 shares during the quarter. IBM accounts for approximately 1.2% of John G Ullman & Associates Inc.’s investment portfolio, making the stock its 29th biggest holding. John G Ullman & Associates Inc.’s holdings in IBM were worth $6,706,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in IBM. Swedbank lifted its position in IBM by 21.1% in the 1st quarter. Swedbank now owns 1,404,199 shares of the technology company’s stock valued at $198,132,000 after acquiring an additional 244,949 shares in the last quarter. OLD Republic International Corp lifted its position in IBM by 14.4% in the 1st quarter. OLD Republic International Corp now owns 572,000 shares of the technology company’s stock valued at $80,709,000 after acquiring an additional 72,000 shares in the last quarter. Joseph P. Lucia & Associates LLC bought a new position in IBM in the 1st quarter valued at about $415,000. Marshall Wace LLP bought a new position in IBM in the 1st quarter valued at about $6,882,000. Finally, Atlantic Union Bankshares Corp lifted its position in IBM by 706.9% in the 2nd quarter. Atlantic Union Bankshares Corp now owns 35,641 shares of the technology company’s stock valued at $4,915,000 after acquiring an additional 31,224 shares in the last quarter. 55.38% of the stock is currently owned by institutional investors and hedge funds.
Shares of IBM stock traded up $1.84 during mid-day trading on Friday, hitting $133.76. 2,896,600 shares of the stock were exchanged, compared to its average volume of 5,099,651. IBM has a 12 month low of $105.94 and a 12 month high of $154.36. The company has a 50-day simple moving average of $143.01 and a 200 day simple moving average of $138.87. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.79 and a current ratio of 1.83. The company has a market capitalization of $118.50 billion, a P/E ratio of 9.69, a P/E/G ratio of 1.99 and a beta of 1.28.
IBM (NYSE:IBM) last issued its quarterly earnings results on Wednesday, July 17th. The technology company reported $3.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.06 by $0.11. IBM had a net margin of 11.22% and a return on equity of 69.56%. The company had revenue of $19.20 billion during the quarter, compared to analyst estimates of $19.20 billion. During the same quarter last year, the business posted $3.08 EPS. IBM’s quarterly revenue was down 4.0% compared to the same quarter last year. Analysts predict that IBM will post 13.2 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be paid a dividend of $1.62 per share. The ex-dividend date is Thursday, August 8th. This represents a $6.48 annualized dividend and a dividend yield of 4.84%. IBM’s payout ratio is currently 46.92%.
In other news, SVP Kenneth M. Keverian sold 2,690 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $135.50, for a total transaction of $364,495.00. Following the completion of the sale, the senior vice president now owns 34,665 shares in the company, valued at approximately $4,697,107.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Kenneth M. Keverian sold 2,227 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $135.15, for a total transaction of $300,979.05. Following the sale, the senior vice president now owns 32,878 shares of the company’s stock, valued at approximately $4,443,461.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,000 shares of company stock valued at $940,430. 0.19% of the stock is currently owned by company insiders.
IBM has been the topic of several recent research reports. Morgan Stanley initiated coverage on shares of IBM in a research report on Thursday, August 1st. They issued an “overweight” rating and a $170.00 price target on the stock. Bank of America lifted their target price on shares of IBM from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. ValuEngine raised shares of IBM from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Credit Suisse Group reissued a “buy” rating and set a $173.00 target price on shares of IBM in a research report on Friday, July 19th. Finally, Tigress Financial reissued a “hold” rating on shares of IBM in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $155.29.
International Business Machines Corporation operates as an integrated technology and services company worldwide. Its Cognitive Solutions segment offers a portfolio of enterprise artificial intelligence platforms, such as analytics and data management platforms, cloud data services, talent management, and industry solutions primarily under the Watson Platform, Watson Health, and Watson Internet of Things names.
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