Global Trust Asset Management LLC Grows Position in International Business Machines Co. (NYSE:IBM)


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Global Trust Asset Management LLC grew its holdings in International Business Machines Co. (NYSE:IBM) by 71.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,882 shares of the technology company’s stock after buying an additional 783 shares during the period. Global Trust Asset Management LLC’s holdings in International Business Machines were worth $237,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of IBM. Simon Quick Advisors LLC grew its stake in International Business Machines by 67.9% during the 3rd quarter. Simon Quick Advisors LLC now owns 225 shares of the technology company’s stock valued at $27,000 after acquiring an additional 91 shares in the last quarter. Moisand Fitzgerald Tamayo LLC lifted its stake in International Business Machines by 56.6% in the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 274 shares of the technology company’s stock worth $33,000 after purchasing an additional 99 shares in the last quarter. Northwest Investment Counselors LLC acquired a new position in shares of International Business Machines during the 3rd quarter worth approximately $50,000. Paces Ferry Wealth Advisors LLC purchased a new stake in shares of International Business Machines in the third quarter valued at approximately $57,000. Finally, NuWave Investment Management LLC increased its holdings in shares of International Business Machines by 330.9% in the fourth 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 during the last quarter. 51.92% of the stock is currently owned by hedge funds and other institutional investors.

In other International Business Machines news, Director David N. Farr bought 1,500 shares of the business’s stock in a transaction that occurred on Thursday, October 29th. The shares were purchased at an average cost of $107.74 per share, with a total value of $161,610.00. Following the purchase, the director now directly owns 6,758 shares in the company, valued at $728,106.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alex Gorsky bought 4,232 shares of International Business Machines stock in a transaction on Monday, November 9th. The shares were acquired at an average price of $117.86 per share, for a total transaction of $498,783.52. Following the completion of the acquisition, the director now owns 4,232 shares in the company, valued at $498,783.52. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 13,387 shares of company stock valued at $1,513,946. 0.24% of the stock is currently owned by corporate insiders.

Shares of NYSE IBM opened at $126.92 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 2.58. The business’s 50 day moving average is $125.55 and its two-hundred day moving average is $122.34. International Business Machines Co. has a 52-week low of $90.56 and a 52-week high of $158.75. The firm has a market cap of $113.09 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 4.32 and a beta of 1.25.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Monday, October 19th. The technology company reported $2.58 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $2.58. International Business Machines had a return on equity of 48.69% and a net margin of 10.53%. The business had revenue of $17.56 billion during the quarter, compared to analysts’ expectations of $17.56 billion. During the same period in the previous year, the firm posted $2.68 earnings per share. The company’s revenue was down 2.6% on a year-over-year basis. Analysts anticipate that International Business Machines Co. will post 8.78 EPS for the current fiscal year.

A number of analysts have issued reports on IBM shares. BMO Capital Markets cut their target price on International Business Machines from $140.00 to $138.00 and set a “market perform” rating for the company in a research note on Tuesday, October 20th. Morgan Stanley raised their price objective on shares of International Business Machines from $128.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Friday, October 9th. ValuEngine upgraded shares of International Business Machines from a “sell” rating to a “hold” rating in a report on Monday, November 2nd. Finally, Zacks Investment Research downgraded shares of International Business Machines from a “hold” rating to a “sell” rating and set a $124.00 price target for the company. in a report on Wednesday, October 21st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $139.06.

About International Business Machines

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.

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

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