Nichols & Pratt Advisers LLP MA lessened its stake in IBM (NYSE:IBM) by 13.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,528 shares of the technology company’s stock after selling 1,500 shares during the quarter. Nichols & Pratt Advisers LLP MA’s holdings in IBM were worth $1,462,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Hugh Johnson Advisors LLC increased its holdings in IBM by 0.9% in the second quarter. Hugh Johnson Advisors LLC now owns 1,403 shares of the technology company’s stock valued at $216,000 after purchasing an additional 12 shares during the last quarter. Rench Wealth Management Inc. increased its holdings in IBM by 1.0% in the second quarter. Rench Wealth Management Inc. now owns 1,486 shares of the technology company’s stock valued at $229,000 after purchasing an additional 14 shares during the last quarter. Altavista Wealth Management Inc. increased its holdings in IBM by 0.7% in the second quarter. Altavista Wealth Management Inc. now owns 2,193 shares of the technology company’s stock valued at $337,000 after purchasing an additional 15 shares during the last quarter. Marco Investment Management LLC increased its holdings in IBM by 0.3% in the second quarter. Marco Investment Management LLC now owns 15,049 shares of the technology company’s stock valued at $2,315,000 after purchasing an additional 40 shares during the last quarter. Finally, Day & Ennis LLC increased its holdings in IBM by 0.5% in the second quarter. Day & Ennis LLC now owns 9,326 shares of the technology company’s stock valued at $1,435,000 after purchasing an additional 43 shares during the last quarter. Institutional investors and hedge funds own 57.02% of the company’s stock.
In related news, insider Erich Clementi sold 13,000 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $154.66, for a total transaction of $2,010,580.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frederick H. Waddell purchased 610 shares of IBM stock in a transaction that occurred on Wednesday, January 31st. The shares were bought at an average cost of $163.38 per share, with a total value of $99,661.80. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by company insiders.
IBM (NYSE:IBM) last posted its quarterly earnings data on Thursday, January 18th. The technology company reported $5.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.17 by $0.01. The business had revenue of $22.54 billion during the quarter, compared to the consensus estimate of $22.03 billion. IBM had a return on equity of 69.48% and a net margin of 7.27%. IBM’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the company earned $5.01 earnings per share. research analysts predict that IBM will post 13.82 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 10th. Investors of record on Friday, February 9th were issued a dividend of $1.50 per share. The ex-dividend date was Thursday, February 8th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.98%. IBM’s payout ratio is presently 43.48%.
A number of equities research analysts recently commented on IBM shares. Morgan Stanley downgraded IBM from an “equal weight” rating to an “underweight” rating and upped their price objective for the company from $200.00 to $205.00 in a report on Tuesday, January 23rd. Societe Generale set a $149.00 price target on IBM and gave the stock a “sell” rating in a report on Friday, January 19th. Bank of America restated a “buy” rating and issued a $200.00 price target on shares of IBM in a report on Monday, March 26th. BMO Capital Markets restated a “hold” rating and issued a $175.00 price target on shares of IBM in a report on Thursday, January 11th. They noted that the move was a valuation call. Finally, Barclays upgraded IBM from an “underweight” rating to an “overweight” rating and increased their price target for the stock from $133.00 to $192.00 in a report on Wednesday, January 17th. Six investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $166.01.
International Business Machines Corporation operates as an integrated technology and services company worldwide. Its Cognitive Solutions segment offers Watson, a cognitive computing platform that interacts in natural language, processes big data, and learns from interactions with people and computers.
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