First National Bank of Hutchinson Purchases New Holdings in International Business Machines Corporation $IBM

First National Bank of Hutchinson acquired a new stake in shares of International Business Machines Corporation (NYSE:IBMFree Report) in the 3rd quarter, HoldingsChannel reports. The firm acquired 5,283 shares of the technology company’s stock, valued at approximately $1,491,000. International Business Machines comprises about 0.8% of First National Bank of Hutchinson’s portfolio, making the stock its 25th biggest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. CFS Investment Advisory Services LLC increased its stake in International Business Machines by 0.4% in the 3rd quarter. CFS Investment Advisory Services LLC now owns 9,359 shares of the technology company’s stock valued at $2,878,000 after buying an additional 34 shares during the period. KPP Advisory Services LLC boosted its holdings in shares of International Business Machines by 1.7% in the third quarter. KPP Advisory Services LLC now owns 2,069 shares of the technology company’s stock valued at $584,000 after acquiring an additional 34 shares in the last quarter. Marco Investment Management LLC increased its stake in shares of International Business Machines by 0.3% during the third quarter. Marco Investment Management LLC now owns 10,774 shares of the technology company’s stock worth $3,040,000 after acquiring an additional 34 shares during the period. Ignite Planners LLC raised its holdings in International Business Machines by 0.9% during the third quarter. Ignite Planners LLC now owns 4,000 shares of the technology company’s stock worth $1,129,000 after purchasing an additional 36 shares in the last quarter. Finally, Vishria Bird Financial Group LLC lifted its position in International Business Machines by 3.0% in the third quarter. Vishria Bird Financial Group LLC now owns 1,230 shares of the technology company’s stock valued at $347,000 after purchasing an additional 36 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Trading Up 3.2%

NYSE:IBM opened at $299.09 on Friday. International Business Machines Corporation has a 52-week low of $214.50 and a 52-week high of $324.90. 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 stock has a fifty day simple moving average of $302.10 and a 200-day simple moving average of $283.64. The company has a market capitalization of $279.57 billion, a PE ratio of 26.82, a price-to-earnings-growth ratio of 3.00 and a beta of 0.69.

International Business Machines (NYSE:IBMGet Free Report) last posted its earnings results on Wednesday, January 28th. The technology company reported $4.52 earnings per share for the quarter, beating the consensus estimate of $4.33 by $0.19. The firm had revenue of $19.69 billion during the quarter, compared to the consensus estimate of $19.23 billion. International Business Machines had a net margin of 15.69% and a return on equity of 38.15%. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period last year, the firm posted $3.92 EPS. On average, equities research analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 10th will be given a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Tuesday, February 10th. International Business Machines’s payout ratio is currently 60.27%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on IBM. Sanford C. Bernstein reissued a “market perform” rating on shares of International Business Machines in a research note on Wednesday, December 10th. Stifel Nicolaus increased their price objective on International Business Machines from $325.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Dbs Bank upgraded shares of International Business Machines from a “hold” rating to a “moderate buy” rating in a research report on Monday, January 19th. Argus set a $360.00 price target on shares of International Business Machines in a research note on Friday, January 30th. Finally, Bank of America raised their price objective on shares of International Business Machines from $315.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $330.07.

Get Our Latest Research Report on IBM

Insider Transactions at International Business Machines

In related news, Director David N. Farr bought 1,000 shares of International Business Machines stock in a transaction that occurred on Friday, January 30th. The shares were purchased at an average price of $304.00 per share, with a total value of $304,000.00. Following the purchase, the director owned 9,258 shares in the company, valued at $2,814,432. This represents a 12.11% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.18% of the company’s stock.

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International Business Machines Company Profile

(Free Report)

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.

See Also

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

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