IBM (IBM) Shares Bought by Westside Investment Management Inc.

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Westside Investment Management Inc. boosted its stake in shares of IBM (NYSE:IBM) by 17.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,630 shares of the technology company’s stock after purchasing an additional 386 shares during the quarter. Westside Investment Management Inc.’s holdings in IBM were worth $302,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Cozad Asset Management Inc. raised its position in IBM by 39.2% in the fourth quarter. Cozad Asset Management Inc. now owns 3,171 shares of the technology company’s stock worth $360,000 after acquiring an additional 893 shares during the period. Albion Financial Group UT raised its position in IBM by 1.5% in the third quarter. Albion Financial Group UT now owns 18,471 shares of the technology company’s stock worth $2,793,000 after acquiring an additional 281 shares during the period. Paloma Partners Management Co raised its position in IBM by 127.4% in the third quarter. Paloma Partners Management Co now owns 1,453 shares of the technology company’s stock worth $220,000 after acquiring an additional 6,757 shares during the period. Crossvault Capital Management LLC raised its position in IBM by 12.4% in the third quarter. Crossvault Capital Management LLC now owns 7,700 shares of the technology company’s stock worth $1,164,000 after acquiring an additional 850 shares during the period. Finally, Edmp Inc. raised its position in IBM by 2.3% in the fourth quarter. Edmp Inc. now owns 11,032 shares of the technology company’s stock worth $1,254,000 after acquiring an additional 243 shares during the period. Institutional investors own 61.97% of the company’s stock.

IBM has been the topic of several recent research reports. Wedbush decreased their price target on shares of IBM from $185.00 to $165.00 and set a “neutral” rating on the stock in a research report on Thursday, October 18th. Zacks Investment Research upgraded shares of IBM from a “sell” rating to a “hold” rating in a research report on Thursday, October 18th. Goldman Sachs Group reiterated a “neutral” rating and issued a $155.00 price target on shares of IBM in a research report on Monday, October 29th. BMO Capital Markets reiterated a “hold” rating and issued a $145.00 price target on shares of IBM in a research report on Friday, December 7th. Finally, Cantor Fitzgerald reiterated a “hold” rating and issued a $140.00 price target on shares of IBM in a research report on Wednesday, January 16th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the stock. IBM has a consensus rating of “Hold” and a consensus price target of $154.56.

In related news, insider Diane J. Gherson sold 5,754 shares of the firm’s stock in a transaction on Wednesday, February 6th. The shares were sold at an average price of $135.67, for a total transaction of $780,645.18. Following the completion of the transaction, the insider now directly owns 23,117 shares of the company’s stock, valued at $3,136,283.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.17% of the company’s stock.

IBM traded up $1.07 during trading on Tuesday, hitting $135.06. 47,389 shares of the company traded hands, compared to its average volume of 5,327,253. The stock has a market capitalization of $122.77 billion, a price-to-earnings ratio of 9.78, a PEG ratio of 2.37 and a beta of 1.25. IBM has a 1 year low of $105.94 and a 1 year high of $162.11. The company has a debt-to-equity ratio of 2.10, a quick ratio of 1.24 and a current ratio of 1.29.

IBM (NYSE:IBM) last posted its earnings results on Tuesday, January 22nd. The technology company reported $4.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.82 by $0.05. The company had revenue of $21.76 billion during the quarter, compared to analysts’ expectations of $21.79 billion. IBM had a net margin of 10.97% and a return on equity of 68.61%. IBM’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period last year, the company posted $5.14 earnings per share. On average, equities research analysts forecast that IBM will post 13.92 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 9th. Investors of record on Friday, February 8th will be paid a dividend of $1.57 per share. The ex-dividend date is Thursday, February 7th. This represents a $6.28 annualized dividend and a yield of 4.65%. IBM’s payout ratio is 45.47%.

IBM declared that its board has authorized a stock buyback plan on Tuesday, October 30th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the technology company to purchase up to 3.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

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IBM Profile

International Business Machines Corporation operates as an integrated technology and services company worldwide. Its Cognitive Solutions segment offers Watson, a computing platform that interacts in language, processes big data, and learns from interactions with people and computers. This segment also offers data and analytics solutions, including analytics and data management platforms, cloud data services, enterprise social software, talent management solutions, and tailored industry solutions; and transaction processing software that runs mission-critical systems in banking, airlines, and retail industries.

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Institutional Ownership by Quarter for IBM (NYSE:IBM)

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