Greenwood Capital Associates LLC Increases Stock Position in International Business Machines Corporation $IBM

Greenwood Capital Associates LLC grew its holdings in International Business Machines Corporation (NYSE:IBM) by 20.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 47,153 shares of the technology company’s stock after acquiring an additional 8,164 shares during the period. International Business Machines makes up 1.5% of Greenwood Capital Associates LLC’s portfolio, making the stock its 10th biggest position. Greenwood Capital Associates LLC’s holdings in International Business Machines were worth $13,305,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. Brighton Jones LLC lifted its stake in International Business Machines by 12.4% during the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock worth $4,619,000 after purchasing an additional 2,323 shares during the period. FORA Capital LLC acquired a new position in shares of International Business Machines in the 1st quarter worth approximately $517,000. Gerber Kawasaki Wealth & Investment Management raised its holdings in shares of International Business Machines by 46.3% in the 1st quarter. Gerber Kawasaki Wealth & Investment Management now owns 2,070 shares of the technology company’s stock worth $515,000 after buying an additional 655 shares in the last quarter. WPG Advisers LLC bought a new position in shares of International Business Machines during the 1st quarter worth approximately $181,000. Finally, Canada Pension Plan Investment Board boosted its stake in International Business Machines by 139.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 533,070 shares of the technology company’s stock valued at $132,553,000 after buying an additional 310,005 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Price Performance

Shares of IBM stock opened at $305.22 on Friday. International Business Machines Corporation has a 1 year low of $214.50 and a 1 year high of $324.90. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 1.97. The firm’s 50 day moving average is $303.62 and its 200-day moving average is $280.83. The firm has a market capitalization of $285.30 billion, a price-to-earnings ratio of 36.51, a PEG ratio of 3.03 and a beta of 0.69.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 22nd. The technology company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.20. International Business Machines had a net margin of 12.09% and a return on equity of 37.76%. The firm had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.10 billion. During the same quarter in the previous year, the company posted $2.30 EPS. International Business Machines’s revenue was up 9.1% on a year-over-year basis. Sell-side analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Monday, November 10th were issued a $1.68 dividend. The ex-dividend date was Monday, November 10th. This represents a $6.72 annualized dividend and a yield of 2.2%. International Business Machines’s dividend payout ratio (DPR) is currently 80.38%.

Analysts Set New Price Targets

A number of brokerages have issued reports on IBM. Royal Bank Of Canada cut their price objective on International Business Machines from $315.00 to $300.00 and set an “outperform” rating for the company in a report on Thursday, October 23rd. Sanford C. Bernstein reissued a “market perform” rating on shares of International Business Machines in a report on Wednesday, December 10th. Morgan Stanley reduced their price target on shares of International Business Machines from $256.00 to $252.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 23rd. Jefferies Financial Group raised their price objective on shares of International Business Machines from $280.00 to $305.00 and gave the stock a “hold” rating in a report on Tuesday, October 21st. Finally, Bank of America boosted their target price on International Business Machines from $310.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $293.38.

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.