Tortoise Investment Management LLC Has $290,000 Position in International Business Machines Co. (NYSE:IBM)

Tortoise Investment Management LLC boosted its holdings in International Business Machines Co. (NYSE:IBMGet Rating) by 33.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,442 shares of the technology company’s stock after purchasing an additional 606 shares during the quarter. Tortoise Investment Management LLC’s holdings in International Business Machines were worth $290,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of IBM. Cantor Fitzgerald Investment Advisor L.P boosted its holdings in International Business Machines by 97.6% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 257,335 shares of the technology company’s stock worth $33,459,000 after acquiring an additional 127,093 shares during the last quarter. Roundview Capital LLC purchased a new position in International Business Machines during the 1st quarter worth $203,000. Sei Investments Co. boosted its holdings in International Business Machines by 35.7% during the 1st quarter. Sei Investments Co. now owns 177,599 shares of the technology company’s stock worth $23,157,000 after acquiring an additional 46,756 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its holdings in International Business Machines by 1.9% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 95,662 shares of the technology company’s stock worth $12,438,000 after acquiring an additional 1,821 shares during the last quarter. Finally, Baird Financial Group Inc. boosted its holdings in International Business Machines by 1.5% during the 1st quarter. Baird Financial Group Inc. now owns 382,232 shares of the technology company’s stock worth $49,698,000 after acquiring an additional 5,506 shares during the last quarter. 55.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on IBM. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research note on Friday, October 21st. Bank of America lowered their target price on International Business Machines from $155.00 to $145.00 in a research note on Tuesday, October 18th. Evercore ISI boosted their price objective on International Business Machines from $135.00 to $150.00 in a research note on Tuesday, January 17th. Morgan Stanley cut International Business Machines from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $152.00 to $148.00 in a research report on Wednesday, January 18th. Finally, Stifel Nicolaus boosted their price objective on International Business Machines from $140.00 to $158.00 and gave the stock a “buy” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $142.30.

International Business Machines Price Performance

Shares of International Business Machines stock opened at $141.49 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.95 and a debt-to-equity ratio of 2.23. The company has a market cap of $127.93 billion, a PE ratio of 103.28, a P/E/G ratio of 2.66 and a beta of 0.89. The business has a 50 day moving average of $144.62 and a 200 day moving average of $135.50. International Business Machines Co. has a 52 week low of $115.54 and a 52 week high of $153.21.

Insiders Place Their Bets

In related news, VP Bene Robert F. Del sold 3,000 shares of the stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $148.36, for a total transaction of $445,080.00. Following the sale, the vice president now directly owns 14,553 shares of the company’s stock, valued at $2,159,083.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.04% of the stock is owned by corporate insiders.

International Business Machines Company Profile

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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.

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

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