Country Trust Bank Raises Position in International Business Machines Co. (NYSE:IBM)

Country Trust Bank grew its holdings in shares of International Business Machines Co. (NYSE:IBM) by 6.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,645 shares of the technology company’s stock after purchasing an additional 163 shares during the period. Country Trust Bank’s holdings in International Business Machines were worth $322,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Keebeck Wealth Management LLC purchased a new position in International Business Machines in the 2nd quarter worth $67,000. Lenox Wealth Advisors LLC raised its stake in International Business Machines by 190.0% in the 3rd quarter. Lenox Wealth Advisors LLC now owns 870 shares of the technology company’s stock worth $106,000 after acquiring an additional 570 shares during the last quarter. Lountzis Asset Management LLC purchased a new position in International Business Machines in the 2nd quarter worth $181,000. Hilton Capital Management LLC purchased a new position in International Business Machines in the 2nd quarter worth $218,000. Finally, Motco raised its stake in International Business Machines by 36.4% in the 2nd quarter. Motco now owns 2,063 shares of the technology company’s stock worth $250,000 after acquiring an additional 550 shares during the last quarter. Hedge funds and other institutional investors own 56.11% of the company’s stock.

Shares of NYSE:IBM traded up $1.04 during trading on Friday, reaching $125.93. 4,714,320 shares of the company’s stock traded hands, compared to its average volume of 5,524,485. 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 quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.68. The firm has a market cap of $112.15 billion, a PE ratio of 14.29, a P/E/G ratio of 3.51 and a beta of 1.16. The company has a 50-day simple moving average of $122.93 and a 200-day simple moving average of $122.15.

International Business Machines (NYSE:IBM) last posted its earnings results on Monday, July 20th. The technology company reported $2.18 EPS for the quarter, beating the Zacks’ consensus estimate of $2.14 by $0.04. International Business Machines had a return on equity of 51.06% and a net margin of 10.44%. The firm had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.72 billion. During the same period last year, the firm earned $3.17 EPS. The company’s quarterly revenue was down 5.4% on a year-over-year basis. On average, equities research analysts forecast that International Business Machines Co. will post 11.06 EPS for the current year.

In related news, SVP Diane J. Gherson sold 1,176 shares of International Business Machines stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $126.73, for a total value of $149,034.48. Following the sale, the senior vice president now directly owns 31,767 shares in the company, valued at approximately $4,025,831.91. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Diane J. Gherson sold 1,215 shares of International Business Machines stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $127.00, for a total value of $154,305.00. Following the completion of the sale, the senior vice president now owns 30,597 shares in the company, valued at $3,885,819. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

A number of brokerages recently issued reports on IBM. Morgan Stanley raised their target price on International Business Machines from $128.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Friday, October 9th. JPMorgan Chase & Co. raised their target price on International Business Machines from $135.00 to $148.00 and gave the stock a “neutral” rating in a research note on Monday, August 17th. Credit Suisse Group increased their price target on International Business Machines from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 21st. ValuEngine raised International Business Machines from a “sell” rating to a “hold” rating in a research report on Thursday, October 8th. Finally, Wells Fargo & Company increased their price target on International Business Machines from $120.00 to $130.00 and gave the stock a “hold” rating in a research report on Tuesday, July 21st. Twelve equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. International Business Machines presently has an average rating of “Hold” and an average target price of $139.88.

International Business Machines Company Profile

International Business Machines Corporation operates as an integrated solutions and services company 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.

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

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