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

Vestcor Inc lessened its stake in International Business Machines Corporation (NYSE:IBM) by 7.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 78,157 shares of the technology company’s stock after selling 5,950 shares during the quarter. International Business Machines accounts for about 0.7% of Vestcor Inc’s holdings, making the stock its 28th biggest position. Vestcor Inc’s holdings in International Business Machines were worth $22,053,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC grew its stake in shares of International Business Machines by 12.4% in the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock valued at $4,619,000 after buying an additional 2,323 shares in the last quarter. Sivia Capital Partners LLC raised its position in International Business Machines by 10.6% during the second quarter. Sivia Capital Partners LLC now owns 1,938 shares of the technology company’s stock valued at $571,000 after acquiring an additional 186 shares in the last quarter. Vestmark Advisory Solutions Inc. lifted its stake in International Business Machines by 65.7% in the second quarter. Vestmark Advisory Solutions Inc. now owns 1,501 shares of the technology company’s stock valued at $443,000 after acquiring an additional 595 shares during the last quarter. Los Angeles Capital Management LLC grew its position in International Business Machines by 5.1% in the second quarter. Los Angeles Capital Management LLC now owns 4,750 shares of the technology company’s stock worth $1,400,000 after acquiring an additional 231 shares in the last quarter. Finally, HC Advisors LLC acquired a new position in shares of International Business Machines during the 2nd quarter worth $398,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. UBS Group upgraded shares of International Business Machines from a “sell” rating to a “neutral” rating and set a $236.00 price target on the stock in a report on Wednesday, February 25th. Jefferies Financial Group reaffirmed a “buy” rating on shares of International Business Machines in a research report on Monday, February 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of International Business Machines in a report on Thursday, January 22nd. Bank of America raised their price objective on International Business Machines from $315.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. Finally, Morgan Stanley reduced their target price 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. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $320.87.

International Business Machines Trading Up 0.6%

Shares of NYSE:IBM opened at $258.19 on Monday. International Business Machines Corporation has a 52-week low of $214.50 and a 52-week high of $324.90. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.92 and a current ratio of 0.96. The company 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 stock’s 50-day moving average is $281.73 and its 200-day moving average is $284.58.

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

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 10th will be given a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.6%. The ex-dividend date is Tuesday, February 10th. International Business Machines’s dividend payout ratio (DPR) is currently 60.27%.

Insider Activity

In other news, Director Michael Miebach acquired 434 shares of International Business Machines stock in a transaction on Wednesday, February 25th. The stock was bought at an average price of $233.33 per share, for a total transaction of $101,265.22. Following the transaction, the director owned 434 shares of the company’s stock, valued at $101,265.22. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David N. Farr acquired 1,000 shares of the firm’s stock in a transaction dated Friday, January 30th. The shares were purchased at an average cost of $304.00 per share, for a total transaction of $304,000.00. Following the acquisition, the director directly owned 9,258 shares in the company, valued at $2,814,432. This represents a 12.11% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have bought 1,484 shares of company stock worth $417,157. Insiders own 0.18% of the company’s stock.

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.