IBM (NYSE:IBM) Shares Purchased by Paloma Partners Management Co

Paloma Partners Management Co boosted its holdings in IBM (NYSE:IBM) by 931.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 113,985 shares of the technology company’s stock after acquiring an additional 102,935 shares during the period. Paloma Partners Management Co’s holdings in IBM were worth $15,719,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Amundi Pioneer Asset Management Inc. lifted its stake in IBM by 1.1% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 2,500,954 shares of the technology company’s stock worth $352,883,000 after purchasing an additional 27,813 shares in the last quarter. Swedbank lifted its stake in IBM by 10.7% during the second quarter. Swedbank now owns 1,554,671 shares of the technology company’s stock worth $214,389,000 after purchasing an additional 150,472 shares in the last quarter. Fort Washington Investment Advisors Inc. OH lifted its stake in IBM by 0.7% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 522,989 shares of the technology company’s stock worth $72,120,000 after purchasing an additional 3,604 shares in the last quarter. Comerica Bank lifted its stake in IBM by 1.0% during the second quarter. Comerica Bank now owns 292,981 shares of the technology company’s stock worth $41,917,000 after purchasing an additional 2,885 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of IBM by 15.0% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 217,102 shares of the technology company’s stock valued at $29,938,000 after acquiring an additional 28,256 shares in the last quarter. Hedge funds and other institutional investors own 55.35% of the company’s stock.

Several brokerages have recently issued reports on IBM. Bank of America increased their price objective on IBM from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Credit Suisse Group reiterated a “buy” rating and issued a $173.00 price objective on shares of IBM in a research note on Friday, July 19th. Tigress Financial reiterated a “hold” rating on shares of IBM in a research note on Friday, July 26th. Morgan Stanley began coverage on IBM in a research note on Thursday, August 1st. They issued an “overweight” rating and a $170.00 price objective on the stock. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $152.00 price objective on shares of IBM in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the company. IBM presently has a consensus rating of “Hold” and an average target price of $155.29.

NYSE:IBM traded up $0.68 during trading hours on Thursday, hitting $142.90. The company’s stock had a trading volume of 327,914 shares, compared to its average volume of 3,097,795. The stock has a market capitalization of $128.09 billion, a P/E ratio of 10.35, a price-to-earnings-growth ratio of 2.23 and a beta of 1.31. The stock has a fifty day moving average of $138.20 and a 200-day moving average of $138.89. The company has a current ratio of 1.83, a quick ratio of 1.79 and a debt-to-equity ratio of 3.51. IBM has a 52-week low of $105.94 and a 52-week high of $154.36.

IBM (NYSE:IBM) last issued its quarterly earnings data on Wednesday, July 17th. The technology company reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.06 by $0.11. The company had revenue of $19.20 billion for the quarter, compared to analyst estimates of $19.20 billion. IBM had a return on equity of 69.56% and a net margin of 11.22%. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter last year, the company posted $3.08 earnings per share. On average, sell-side analysts forecast that IBM will post 12.8 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.53%. The ex-dividend date was Thursday, August 8th. IBM’s payout ratio is 46.92%.

About IBM

International Business Machines Corporation operates as an integrated technology and services company worldwide. Its Cognitive Solutions segment offers a portfolio of enterprise artificial intelligence platforms, such as analytics and data management platforms, cloud data services, talent management, and industry solutions primarily under the Watson Platform, Watson Health, and Watson Internet of Things names.

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Institutional Ownership by Quarter for IBM (NYSE:IBM)

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