Gilman Hill Asset Management LLC increased its position in shares of International Business Machines Co. (NYSE:IBM – Get Rating) by 32.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 76,116 shares of the technology company’s stock after buying an additional 18,721 shares during the period. International Business Machines accounts for 2.3% of Gilman Hill Asset Management LLC’s holdings, making the stock its 3rd biggest position. Gilman Hill Asset Management LLC’s holdings in International Business Machines were worth $10,747,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in IBM. Renaissance Technologies LLC acquired a new stake in shares of International Business Machines during the fourth quarter valued at about $4,691,000. Clark Capital Management Group Inc. grew its holdings in shares of International Business Machines by 10.7% in the fourth quarter. Clark Capital Management Group Inc. now owns 4,149 shares of the technology company’s stock valued at $555,000 after purchasing an additional 400 shares in the last quarter. Mutual Advisors LLC grew its holdings in shares of International Business Machines by 13.7% in the fourth quarter. Mutual Advisors LLC now owns 19,240 shares of the technology company’s stock valued at $2,572,000 after purchasing an additional 2,313 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in shares of International Business Machines by 13.9% in the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 14,157 shares of the technology company’s stock valued at $1,892,000 after purchasing an additional 1,728 shares in the last quarter. Finally, ETF Managers Group LLC grew its holdings in shares of International Business Machines by 5.0% in the fourth quarter. ETF Managers Group LLC now owns 5,206 shares of the technology company’s stock valued at $697,000 after purchasing an additional 246 shares in the last quarter. 55.52% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, Director David N. Farr acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The stock was acquired at an average price of $125.00 per share, for a total transaction of $125,000.00. Following the completion of the acquisition, the director now owns 1,000 shares of the company’s stock, valued at approximately $125,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.04% of the company’s stock.
International Business Machines Trading Down 0.8 %
International Business Machines (NYSE:IBM – Get Rating) last announced its quarterly earnings data on Monday, July 18th. The technology company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.02. The firm had revenue of $15.54 billion for the quarter, compared to analysts’ expectations of $15.18 billion. International Business Machines had a return on equity of 43.52% and a net margin of 8.72%. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period last year, the business posted $2.33 earnings per share. Equities analysts predict that International Business Machines Co. will post 9.39 earnings per share for the current year.
International Business Machines Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Saturday, September 10th. Investors of record on Wednesday, August 10th were paid a $1.65 dividend. This represents a $6.60 annualized dividend and a yield of 5.31%. The ex-dividend date of this dividend was Tuesday, August 9th. International Business Machines’s dividend payout ratio is 107.14%.
Analysts Set New Price Targets
IBM has been the subject of a number of research reports. Morgan Stanley dropped their price objective on shares of International Business Machines from $157.00 to $155.00 and set an “overweight” rating for the company in a report on Tuesday, July 19th. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, August 31st. BMO Capital Markets decreased their price target on shares of International Business Machines from $152.00 to $148.00 in a research note on Tuesday, July 19th. Societe Generale reduced their price objective on shares of International Business Machines to $129.00 in a research report on Tuesday, September 13th. Finally, Credit Suisse Group boosted 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 report on Wednesday, August 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $145.18.
International Business Machines Company Profile
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.
- Get a free copy of the StockNews.com research report on International Business Machines (IBM)
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