Griffin Asset Management Inc. boosted its holdings in shares of IBM (NYSE:IBM) by 3.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,461 shares of the technology company’s stock after acquiring an additional 3,255 shares during the period. IBM comprises about 2.4% of Griffin Asset Management Inc.’s portfolio, making the stock its 5th largest position. Griffin Asset Management Inc.’s holdings in IBM were worth $13,265,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of IBM. Risk Paradigm Group LLC bought a new position in IBM during the 4th quarter worth about $118,000. Price Wealth Management Inc. bought a new position in IBM during the 4th quarter worth about $122,000. Capital Analysts LLC grew its holdings in IBM by 100.5% during the 4th quarter. Capital Analysts LLC now owns 1,129 shares of the technology company’s stock worth $125,000 after acquiring an additional 566 shares in the last quarter. Cerebellum GP LLC bought a new position in IBM during the 4th quarter worth about $126,000. Finally, Horan Capital Advisors LLC. bought a new position in IBM during the 3rd quarter worth about $136,000. Institutional investors own 56.85% of the company’s stock.
IBM opened at $144.30 on Tuesday, according to MarketBeat Ratings. IBM has a 12-month low of $144.33 and a 12-month high of $145.12. The company has a quick ratio of 1.33, a current ratio of 1.37 and a debt-to-equity ratio of 2.21. The company has a market cap of $132.32 billion, a price-to-earnings ratio of 10.46, a price-to-earnings-growth ratio of 2.11 and a beta of 0.92.
IBM (NYSE:IBM) last posted its quarterly earnings results on Tuesday, April 17th. The technology company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.03. IBM had a net margin of 7.10% and a return on equity of 69.71%. The company had revenue of $19.07 billion during the quarter, compared to analyst estimates of $18.80 billion. During the same period last year, the firm posted $2.35 EPS. IBM’s revenue for the quarter was up 5.1% compared to the same quarter last year. analysts expect that IBM will post 13.83 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 9th. Shareholders of record on Thursday, May 10th will be given a dividend of $1.57 per share. The ex-dividend date is Wednesday, May 9th. This is a positive change from IBM’s previous quarterly dividend of $1.50. This represents a $6.28 dividend on an annualized basis and a yield of 4.35%. IBM’s dividend payout ratio (DPR) is currently 45.51%.
A number of analysts have recently weighed in on IBM shares. Morgan Stanley cut shares of IBM from an “equal weight” rating to an “underweight” rating and raised their price target for the company from $200.00 to $205.00 in a report on Tuesday, January 23rd. Societe Generale set a $149.00 price target on shares of IBM and gave the company a “sell” rating in a report on Friday, January 19th. Bank of America restated a “buy” rating and issued a $200.00 price target on shares of IBM in a report on Monday, March 26th. Barclays upgraded shares of IBM from an “underweight” rating to an “overweight” rating and raised their price target for the company from $133.00 to $192.00 in a report on Wednesday, January 17th. Finally, Zacks Investment Research cut shares of IBM from a “hold” rating to a “sell” rating in a report on Wednesday, April 11th. Seven equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $166.90.
In other IBM news, insider Diane J. Gherson sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $156.00, for a total transaction 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 approximately $3,210,636. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Erich Clementi sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $154.66, for a total transaction of $2,010,580.00. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.
International Business Machines Corporation operates as an integrated technology and services company worldwide. Its Cognitive Solutions segment offers Watson, a cognitive computing platform that interacts in natural language, processes big data, and learns from interactions with people and computers.
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