Westshore Wealth LLC Buys New Stake in International Business Machines Co. (NYSE:IBM)

Westshore Wealth LLC acquired a new position in shares of International Business Machines Co. (NYSE:IBMGet Rating) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,500 shares of the technology company’s stock, valued at approximately $494,000.

Several other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of International Business Machines during the fourth quarter worth about $1,025,028,000. State Street Corp lifted its position in International Business Machines by 3.3% in the fourth quarter. State Street Corp now owns 53,048,681 shares of the technology company’s stock valued at $7,090,487,000 after purchasing an additional 1,687,122 shares during the period. Millennium Management LLC lifted its position in shares of International Business Machines by 115.2% during the 4th quarter. Millennium Management LLC now owns 212,230 shares of the technology company’s stock valued at $28,367,000 after acquiring an additional 1,610,410 shares during the period. Vanguard Group Inc. lifted its position in shares of International Business Machines by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 77,002,099 shares of the technology company’s stock valued at $10,011,813,000 after acquiring an additional 1,448,444 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of International Business Machines by 35.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,460,023 shares of the technology company’s stock valued at $579,892,000 after acquiring an additional 1,163,790 shares during the period. Hedge funds and other institutional investors own 55.52% of the company’s stock.

International Business Machines Stock Down 1.9 %

International Business Machines stock traded down $2.38 during trading hours on Friday, hitting $122.93. The company had a trading volume of 100,466 shares, compared to its average volume of 3,566,598. The firm’s fifty day moving average is $130.85 and its 200-day moving average is $132.93. International Business Machines Co. has a fifty-two week low of $114.56 and a fifty-two week high of $146.00. The firm has a market capitalization of $111.03 billion, a P/E ratio of 20.06, a price-to-earnings-growth ratio of 1.91 and a beta of 0.84. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.88 and a quick ratio of 0.82.

International Business Machines (NYSE:IBMGet Rating) last released its quarterly earnings data on Monday, July 18th. The technology company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.02. The company had revenue of $15.54 billion during the quarter, compared to the consensus estimate of $15.18 billion. International Business Machines had a net margin of 8.72% and a return on equity of 43.52%. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period last year, the firm earned $2.33 EPS. On average, research analysts forecast that International Business Machines Co. will post 9.39 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, September 10th. Investors of record on Wednesday, August 10th were paid a dividend of $1.65 per share. This represents a $6.60 annualized dividend and a yield of 5.37%. The ex-dividend date of this dividend was Tuesday, August 9th. International Business Machines’s payout ratio is 107.14%.

Insider Buying and Selling

In other news, Director David N. Farr acquired 1,000 shares of International Business Machines stock in a transaction that occurred on Thursday, September 15th. The shares were acquired at an average price of $125.00 per share, with a total value of $125,000.00. Following the purchase, the director now directly owns 1,000 shares of the company’s stock, valued at $125,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.04% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

IBM has been the subject of a number of recent research reports. Credit Suisse Group raised their price objective on shares of International Business Machines from $156.00 to $163.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 17th. Societe Generale lowered their target price on shares of International Business Machines to $129.00 in a research note on Tuesday, September 13th. BMO Capital Markets lowered their target price on shares of International Business Machines from $152.00 to $148.00 in a research note on Tuesday, July 19th. Morgan Stanley decreased their price target on shares of International Business Machines from $157.00 to $155.00 and set an “overweight” rating on the stock in a report on Tuesday, July 19th. Finally, StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, August 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $145.18.

International Business Machines Company Profile

(Get Rating)

International Business Machines Corporation provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions, such as Red Hat, an enterprise open-source solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.

See Also

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Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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