International Business Machines Corporation $IBM Shares Bought by Mitchell Capital Management Co.

Mitchell Capital Management Co. increased its holdings in International Business Machines Corporation (NYSE:IBM) by 116.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,459 shares of the technology company’s stock after buying an additional 12,091 shares during the quarter. International Business Machines comprises 1.1% of Mitchell Capital Management Co.’s portfolio, making the stock its 26th largest holding. Mitchell Capital Management Co.’s holdings in International Business Machines were worth $6,337,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC lifted its stake in International Business Machines by 12.4% in the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock worth $4,619,000 after acquiring an additional 2,323 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in International Business Machines by 10.6% during the second quarter. Sivia Capital Partners LLC now owns 1,938 shares of the technology company’s stock valued at $571,000 after buying an additional 186 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in International Business Machines by 8.6% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 19,310 shares of the technology company’s stock worth $5,692,000 after purchasing an additional 1,529 shares during the last quarter. Moran Wealth Management LLC grew its stake in International Business Machines by 5.6% in the 2nd quarter. Moran Wealth Management LLC now owns 20,597 shares of the technology company’s stock valued at $6,072,000 after buying an additional 1,096 shares during the last quarter. Finally, Morningstar Investment Management LLC acquired a new position in shares of International Business Machines during the 2nd quarter worth about $313,000. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

IBM has been the topic of several research reports. Dbs Bank upgraded International Business Machines from a “hold” rating to a “moderate buy” rating in a research note on Monday, January 19th. UBS Group set a $317.00 price objective on shares of International Business Machines in a report on Thursday, January 29th. Evercore increased their price target on shares of International Business Machines from $330.00 to $345.00 and gave the stock an “outperform” rating in a research report on Thursday, January 29th. Wedbush boosted their price target on International Business Machines from $325.00 to $340.00 and gave the company an “outperform” rating in a research note on Thursday, January 29th. Finally, Erste Group Bank raised International Business Machines from a “hold” rating to a “buy” rating in a report on Friday, December 5th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $330.07.

International Business Machines Stock Down 6.4%

Shares of IBM stock opened at $272.95 on Thursday. The firm’s 50-day moving average is $301.11 and its 200-day moving average is $284.05. International Business Machines Corporation has a 52-week low of $214.50 and a 52-week high of $324.90. The stock has a market cap of $255.14 billion, a price-to-earnings ratio of 24.48, a PEG ratio of 2.92 and a beta of 0.69. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.92 and a current ratio of 0.96.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, January 28th. The technology company reported $4.52 earnings per share for the quarter, topping the consensus estimate of $4.33 by $0.19. International Business Machines had a net margin of 15.69% and a return on equity of 38.15%. The business had revenue of $19.69 billion during the quarter, compared to analysts’ expectations of $19.23 billion. During the same quarter in the prior year, the business posted $3.92 earnings per share. International Business Machines’s revenue was up 12.2% compared to the same quarter last year. Sell-side analysts predict that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 10th will be paid a dividend of $1.68 per share. The ex-dividend date is Tuesday, February 10th. This represents a $6.72 dividend on an annualized basis and a yield of 2.5%. International Business Machines’s payout ratio is 60.27%.

Insider Activity

In other International Business Machines news, Director David N. Farr bought 1,000 shares of the business’s stock in a transaction dated Friday, January 30th. The shares were purchased at an average price of $304.00 per share, for a total transaction of $304,000.00. Following the purchase, the director directly owned 9,258 shares of the company’s stock, valued at approximately $2,814,432. This represents a 12.11% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.18% of the stock is currently owned by insiders.

International Business Machines Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.