MAI Capital Management increased its position in shares of International Business Machines Corp. (NYSE:IBM) by 8.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,642 shares of the technology company’s stock after buying an additional 905 shares during the quarter. MAI Capital Management’s holdings in International Business Machines were worth $1,786,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the stock. ETF Managers Group LLC purchased a new stake in shares of International Business Machines in the second quarter worth approximately $121,000. Price Wealth Management Inc. purchased a new stake in shares of International Business Machines in the fourth quarter worth approximately $122,000. Cerebellum GP LLC purchased a new stake in shares of International Business Machines in the fourth quarter worth approximately $126,000. Horan Capital Advisors LLC. purchased a new stake in shares of International Business Machines in the third quarter worth approximately $136,000. Finally, Risk Paradigm Group LLC purchased a new stake in shares of International Business Machines in the second quarter worth approximately $165,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Diane J. Gherson sold 5,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $156.00, for a total value of $780,000.00. Following the completion of the transaction, the insider now directly owns 20,581 shares of the company’s stock, valued at $3,210,636. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frederick H. Waddell purchased 610 shares of the business’s stock in a transaction dated Wednesday, January 31st. The stock was bought at an average cost of $163.38 per share, with a total value of $99,661.80. The disclosure for this purchase can be found here. 0.23% of the stock is currently owned by corporate insiders.
International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Thursday, January 18th. The technology company reported $5.18 earnings per share for the quarter, beating the consensus estimate of $5.17 by $0.01. International Business Machines had a return on equity of 69.48% and a net margin of 7.27%. The business had revenue of $22.54 billion during the quarter, compared to analyst estimates of $22.03 billion. During the same period in the prior year, the company earned $5.01 earnings per share. International Business Machines’s revenue was up 3.6% compared to the same quarter last year. equities research analysts predict that International Business Machines Corp. will post 13.83 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 10th. Shareholders of record on Friday, February 9th were issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 3.77%. The ex-dividend date was Thursday, February 8th. International Business Machines’s dividend payout ratio (DPR) is 49.83%.
IBM has been the subject of several analyst reports. Royal Bank of Canada reissued a “hold” rating and issued a $160.00 price objective on shares of International Business Machines in a research note on Wednesday, November 15th. Vetr raised International Business Machines from a “buy” rating to a “strong-buy” rating and set a $165.26 price objective for the company in a research note on Wednesday, November 15th. Tigress Financial reissued a “buy” rating on shares of International Business Machines in a research note on Friday, December 1st. Zacks Investment Research downgraded International Business Machines from a “hold” rating to a “sell” rating in a research note on Tuesday, December 19th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $175.00 price objective on shares of International Business Machines in a research note on Thursday, January 11th. They noted that the move was a valuation call. Six research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $166.01.
ILLEGAL ACTIVITY WARNING: “MAI Capital Management Boosts Position in International Business Machines Corp. (IBM)” was originally published by American Banking News and is the property of of American Banking News. If you are reading this piece on another site, it was copied illegally and republished in violation of U.S. and international copyright laws. The correct version of this piece can be read at https://www.americanbankingnews.com/2018/03/14/mai-capital-management-boosts-position-in-international-business-machines-corp-ibm.html.
International Business Machines Company Profile
International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.
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 Corp. (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.