Fulton Breakefield Broenniman LLC lessened its stake in International Business Machines Co. (NYSE:IBM) by 12.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,930 shares of the technology company’s stock after selling 559 shares during the quarter. Fulton Breakefield Broenniman LLC’s holdings in International Business Machines were worth $495,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in IBM. Simon Quick Advisors LLC boosted its holdings in International Business Machines by 67.9% during the third quarter. Simon Quick Advisors LLC now owns 225 shares of the technology company’s stock worth $27,000 after buying an additional 91 shares in the last quarter. Moisand Fitzgerald Tamayo LLC lifted its position in shares of International Business Machines by 56.6% during the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 274 shares of the technology company’s stock valued at $33,000 after acquiring an additional 99 shares during the period. Northwest Investment Counselors LLC purchased a new stake in shares of International Business Machines during the 3rd quarter worth approximately $50,000. Paces Ferry Wealth Advisors LLC acquired a new stake in shares of International Business Machines in the 3rd quarter worth approximately $57,000. Finally, NuWave Investment Management LLC increased its stake in International Business Machines by 330.9% in the 4th quarter. NuWave Investment Management LLC now owns 586 shares of the technology company’s stock valued at $74,000 after purchasing an additional 450 shares in the last quarter. Hedge funds and other institutional investors own 51.92% of the company’s stock.
Shares of NYSE IBM traded up $2.50 on Thursday, reaching $129.42. 206,961 shares of the company traded hands, compared to its average volume of 5,673,650. The stock has a market capitalization of $115.32 billion, a PE ratio of 14.55, a P/E/G ratio of 4.32 and a beta of 1.25. International Business Machines Co. has a fifty-two week low of $90.56 and a fifty-two week high of $158.75. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 2.58. The company has a 50 day moving average of $125.55 and a 200 day moving average of $122.34.
International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Monday, October 19th. The technology company reported $2.58 EPS for the quarter, hitting the consensus estimate of $2.58. The firm had revenue of $17.56 billion during the quarter, compared to analyst estimates of $17.56 billion. International Business Machines had a net margin of 10.53% and a return on equity of 48.69%. International Business Machines’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.68 earnings per share. As a group, research analysts expect that International Business Machines Co. will post 8.78 earnings per share for the current year.
In related news, Director Andrew N. Liveris bought 2,655 shares of the stock in a transaction dated Monday, November 2nd. The stock was acquired at an average price of $112.92 per share, for a total transaction of $299,802.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sidney Taurel bought 5,000 shares of the stock in a transaction dated Tuesday, October 27th. The stock was bought at an average price of $110.75 per share, with a total value of $553,750.00. Following the purchase, the director now owns 28,798 shares of the company’s stock, valued at approximately $3,189,378.50. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 13,387 shares of company stock worth $1,513,946. 0.24% of the stock is currently owned by corporate insiders.
Several research firms have weighed in on IBM. Zacks Investment Research lowered International Business Machines from a “hold” rating to a “sell” rating and set a $124.00 target price on the stock. in a report on Wednesday, October 21st. Morgan Stanley increased their price objective on shares of International Business Machines from $128.00 to $140.00 and gave the company an “equal weight” rating in a research note on Friday, October 9th. Finally, BMO Capital Markets cut their target price on shares of International Business Machines from $140.00 to $138.00 and set a “market perform” rating for the company in a research report on Tuesday, October 20th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. International Business Machines presently has an average rating of “Hold” and an average target price of $139.06.
International Business Machines Profile
International Business Machines Corporation provides integrated solutions and services worldwide. Its Cloud & Cognitive Software segment offers software for vertical and domain-specific solutions in health, financial services, and Internet of Things (IoT), weather, and security software and services application areas; and customer information control system and storage, and analytics and integration software solutions to support client mission critical on-premise workloads in banking, airline, and retail industries.
Read More: What is a back-end load?
Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Co. (NYSE:IBM).
Receive News & Ratings for International Business Machines Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for International Business Machines and related companies with MarketBeat.com’s FREE daily email newsletter.