Vestcor Inc Has $22.05 Million Position in International Business Machines Corporation $IBM

Vestcor Inc lowered its holdings in International Business Machines Corporation (NYSE:IBM) by 7.1% during the third quarter, HoldingsChannel.com reports. The fund owned 78,157 shares of the technology company’s stock after selling 5,950 shares during the period. International Business Machines accounts for 0.7% of Vestcor Inc’s portfolio, making the stock its 28th largest holding. Vestcor Inc’s holdings in International Business Machines were worth $22,053,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of International Business Machines in the 2nd quarter valued at approximately $2,011,122,000. Vanguard Group Inc. lifted its position in shares of International Business Machines by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 95,051,475 shares of the technology company’s stock worth $28,019,274,000 after buying an additional 1,913,708 shares during the period. Laurel Wealth Advisors LLC boosted its stake in International Business Machines by 27,928.2% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,903,116 shares of the technology company’s stock valued at $561,001,000 after buying an additional 1,896,326 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of International Business Machines by 39.6% in the 3rd quarter. First Trust Advisors LP now owns 3,052,880 shares of the technology company’s stock worth $861,401,000 after purchasing an additional 865,253 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in International Business Machines by 45.8% in the 2nd quarter. Franklin Resources Inc. now owns 1,313,241 shares of the technology company’s stock valued at $387,118,000 after acquiring an additional 412,574 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Insider Transactions at International Business Machines

In other International Business Machines news, Director David N. Farr bought 1,000 shares of the stock in a transaction that occurred on Friday, January 30th. The shares were bought at an average price of $304.00 per share, for a total transaction of $304,000.00. Following the acquisition, the director directly owned 9,258 shares of the company’s stock, valued at approximately $2,814,432. The trade was a 12.11% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Miebach acquired 434 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were purchased at an average cost of $233.33 per share, for a total transaction of $101,265.22. Following the completion of the acquisition, the director directly owned 434 shares in the company, valued at approximately $101,265.22. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 1,484 shares of company stock worth $417,157 over the last three months. 0.18% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

IBM has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on International Business Machines from $312.00 to $317.00 and gave the stock a “neutral” rating in a research report on Thursday, January 29th. Wall Street Zen downgraded International Business Machines from a “buy” rating to a “hold” rating in a research note on Sunday, January 11th. Bank of America upped their price target on shares of International Business Machines from $315.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Morgan Stanley decreased their price objective on International Business Machines from $304.00 to $247.00 and set an “equal weight” rating for the company in a report on Wednesday, February 25th. Finally, Oppenheimer set a $380.00 price target on shares of International Business Machines and gave the stock an “outperform” rating in a research report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $320.87.

International Business Machines Price Performance

IBM stock opened at $258.19 on Monday. International Business Machines Corporation has a 12 month low of $214.50 and a 12 month high of $324.90. The firm has a market cap of $242.19 billion, a P/E ratio of 23.16, a P/E/G ratio of 2.59 and a beta of 0.73. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 1.67. The company’s 50-day moving average price is $281.73 and its two-hundred day moving average price is $284.58.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, January 28th. The technology company reported $4.52 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $19.69 billion for the quarter, compared to the consensus estimate of $19.23 billion. During the same period last year, the company posted $3.92 EPS. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. On average, analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 10th will be paid a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, February 10th. International Business Machines’s dividend payout ratio (DPR) is currently 60.27%.

International Business Machines Company 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.