Country Trust Bank trimmed its holdings in IBM (NYSE:IBM) by 5.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,392 shares of the technology company’s stock after selling 150 shares during the quarter. Country Trust Bank’s holdings in IBM were worth $338,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of IBM. MUFG Securities EMEA plc lifted its stake in IBM by 44.8% during the fourth quarter. MUFG Securities EMEA plc now owns 216,780 shares of the technology company’s stock valued at $24,641,000 after buying an additional 67,055 shares in the last quarter. Sycomore Asset Management purchased a new stake in IBM during the fourth quarter valued at about $81,000. Cozad Asset Management Inc. lifted its stake in IBM by 39.2% during the fourth quarter. Cozad Asset Management Inc. now owns 3,171 shares of the technology company’s stock valued at $360,000 after buying an additional 893 shares in the last quarter. Albion Financial Group UT lifted its stake in IBM by 1.5% during the third quarter. Albion Financial Group UT now owns 18,471 shares of the technology company’s stock valued at $2,793,000 after buying an additional 281 shares in the last quarter. Finally, Nalls Sherbakoff Group LLC purchased a new stake in IBM during the fourth quarter valued at about $34,000. 55.58% of the stock is owned by institutional investors.
In related news, insider Erich Clementi sold 13,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $139.01, for a total value of $1,807,130.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Diane J. Gherson sold 1,989 shares of the stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $137.25, for a total value of $272,990.25. The disclosure for this sale can be found here. Insiders sold 20,867 shares of company stock worth $2,877,569 in the last 90 days. 0.19% of the stock is currently owned by corporate insiders.
A number of research firms have commented on IBM. BMO Capital Markets upped their price objective on shares of IBM to $155.00 and gave the company a “market perform” rating in a research note on Wednesday. They noted that the move was a valuation call. Citigroup reaffirmed a “neutral” rating and set a $140.00 price objective (up from $130.00) on shares of IBM in a research note on Wednesday. Credit Suisse Group began coverage on shares of IBM in a research note on Thursday, April 11th. They set an “outperform” rating and a $173.00 price objective for the company. Zacks Investment Research lowered shares of IBM from a “hold” rating to a “sell” rating in a research note on Monday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $160.00 price objective (up from $155.00) on shares of IBM in a research note on Wednesday, January 23rd. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $155.17.
NYSE:IBM traded down $4.26 during mid-day trading on Wednesday, reaching $140.88. The stock had a trading volume of 6,562,675 shares, compared to its average volume of 3,036,259. IBM has a fifty-two week low of $105.94 and a fifty-two week high of $162.00. The company has a market capitalization of $128.05 billion, a P/E ratio of 10.20, a P/E/G ratio of 2.55 and a beta of 1.25. The company has a debt-to-equity ratio of 2.10, a quick ratio of 1.24 and a current ratio of 1.29.
IBM (NYSE:IBM) last released its quarterly earnings data on Tuesday, April 16th. The technology company reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.03. IBM had a return on equity of 68.61% and a net margin of 10.97%. The firm had revenue of $18.18 billion for the quarter, compared to the consensus estimate of $18.53 billion. During the same quarter in the prior year, the company posted $2.45 earnings per share. The firm’s revenue was down 4.7% on a year-over-year basis. As a group, sell-side analysts forecast that IBM will post 13.9 earnings per share for the current fiscal year.
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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 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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