SevenBridge Financial Group LLC Lowers Position in International Business Machines Corporation $IBM

SevenBridge Financial Group LLC trimmed its position in shares of International Business Machines Corporation (NYSE:IBM) by 14.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,508 shares of the technology company’s stock after selling 2,102 shares during the quarter. SevenBridge Financial Group LLC’s holdings in International Business Machines were worth $3,529,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of International Business Machines by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 95,776,307 shares of the technology company’s stock worth $27,024,243,000 after buying an additional 724,832 shares in the last quarter. State Street Corp boosted its stake in shares of International Business Machines by 0.3% in the second quarter. State Street Corp now owns 54,536,963 shares of the technology company’s stock valued at $16,076,406,000 after buying an additional 147,721 shares in the last quarter. Geode Capital Management LLC grew its holdings in International Business Machines by 1.9% during the second quarter. Geode Capital Management LLC now owns 21,936,235 shares of the technology company’s stock worth $6,444,527,000 after acquiring an additional 400,131 shares during the period. Capital World Investors grew its holdings in International Business Machines by 13.9% during the third quarter. Capital World Investors now owns 17,045,156 shares of the technology company’s stock worth $4,809,461,000 after acquiring an additional 2,077,506 shares during the period. Finally, Legal & General Group Plc raised its position in International Business Machines by 2.5% in the third quarter. Legal & General Group Plc now owns 7,302,722 shares of the technology company’s stock worth $2,060,536,000 after acquiring an additional 176,219 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Transactions at International Business Machines

In other news, Director Michael Miebach bought 434 shares of International Business Machines stock in a transaction on Wednesday, February 25th. The shares were bought at an average cost of $233.33 per share, for a total transaction of $101,265.22. Following the acquisition, the director owned 434 shares in the company, valued at approximately $101,265.22. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director David N. Farr purchased 1,000 shares of the stock in a transaction dated Friday, January 30th. The shares were purchased at an average price of $304.00 per share, with a total value of $304,000.00. Following the completion of the acquisition, the director owned 9,258 shares of the company’s stock, valued at approximately $2,814,432. This represents a 12.11% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders acquired 1,484 shares of company stock worth $417,157. 0.18% of the stock is owned by insiders.

International Business Machines Trading Down 0.7%

Shares of IBM stock opened at $248.56 on Thursday. The stock has a market cap of $233.16 billion, a P/E ratio of 22.29, a P/E/G ratio of 2.51 and a beta of 0.73. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 1.67. International Business Machines Corporation has a fifty-two week low of $214.50 and a fifty-two week high of $324.90. The business has a fifty day simple moving average of $278.69 and a 200-day simple moving average of $284.48.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, January 28th. The technology company reported $4.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.33 by $0.19. The firm had revenue of $19.69 billion for the quarter, compared to analyst estimates of $19.23 billion. International Business Machines had a return on equity of 38.15% and a net margin of 15.69%.International Business Machines’s revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.92 EPS. On average, analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 10th were paid a $1.68 dividend. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $6.72 annualized dividend and a yield of 2.7%. International Business Machines’s payout ratio is presently 60.27%.

Analyst Upgrades and Downgrades

Several brokerages have commented on IBM. Wall Street Zen lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Sunday, January 11th. Dbs Bank upgraded shares of International Business Machines from a “hold” rating to a “moderate buy” rating in a report on Monday, January 19th. Royal Bank Of Canada set a $361.00 price objective on shares of International Business Machines in a report on Thursday, January 29th. UBS Group upgraded shares of International Business Machines from a “sell” rating to a “neutral” rating and set a $236.00 target price on the stock in a research report on Wednesday, February 25th. Finally, Erste Group Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $320.87.

International Business Machines Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.