SevenBridge Financial Group LLC Lowers Holdings in International Business Machines Corporation $IBM

SevenBridge Financial Group LLC lowered its stake in shares of International Business Machines Corporation (NYSE:IBM) by 14.4% in the third quarter, HoldingsChannel reports. The fund owned 12,508 shares of the technology company’s stock after selling 2,102 shares during the quarter. SevenBridge Financial Group LLC’s holdings in International Business Machines were worth $3,529,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Roberts Capital Advisors LLC purchased a new stake in shares of International Business Machines during the 3rd quarter valued at $678,000. Atika Capital Management LLC purchased a new position in shares of International Business Machines in the 3rd quarter worth $764,000. Tennessee Valley Asset Management Partners acquired a new position in International Business Machines in the third quarter valued at $204,000. Basso Capital Management L.P. boosted its holdings in International Business Machines by 67.9% in the third quarter. Basso Capital Management L.P. now owns 5,875 shares of the technology company’s stock valued at $1,658,000 after acquiring an additional 2,375 shares during the last quarter. Finally, Kepler Cheuvreux Suisse SA purchased a new stake in International Business Machines during the third quarter valued at about $9,915,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on IBM. Wall Street Zen downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Sunday, January 11th. Bank of America boosted their target price on International Business Machines from $315.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. Evercore increased their target price on shares of International Business Machines from $330.00 to $345.00 and gave the stock an “outperform” rating in a research report on Thursday, January 29th. JPMorgan Chase & Co. raised their price target on shares of International Business Machines from $312.00 to $317.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. Finally, Wedbush reaffirmed an “outperform” rating and set a $340.00 price target on shares of International Business Machines in a research report on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $320.87.

Insiders Place Their Bets

In other International Business Machines news, Director David N. Farr bought 1,000 shares of the stock in a transaction dated Friday, January 30th. The stock was bought at an average cost of $304.00 per share, for a total transaction of $304,000.00. Following the completion of the purchase, the director directly owned 9,258 shares of the company’s stock, valued at approximately $2,814,432. The trade was a 12.11% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michael Miebach bought 434 shares of the company’s stock in a transaction dated Wednesday, February 25th. The shares were acquired at an average cost of $233.33 per share, for a total transaction of $101,265.22. Following the completion of the transaction, the director owned 434 shares of the company’s stock, valued at approximately $101,265.22. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have purchased 1,484 shares of company stock valued at $417,157. Company insiders own 0.18% of the company’s stock.

International Business Machines Trading Down 0.7%

NYSE:IBM opened at $248.56 on Thursday. International Business Machines Corporation has a 12 month low of $214.50 and a 12 month high of $324.90. The business’s 50-day moving average is $278.69 and its two-hundred day moving average is $284.48. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.96 and a quick ratio of 0.92. The firm has a market capitalization of $233.16 billion, a PE ratio of 22.29, a price-to-earnings-growth ratio of 2.51 and a beta of 0.73.

International Business Machines (NYSE:IBM) last posted 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. The business had revenue of $19.69 billion during the quarter, compared to analyst estimates of $19.23 billion. International Business Machines had a return on equity of 38.15% and a net margin of 15.69%.The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter last year, the firm earned $3.92 earnings per share. Research analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 10th were paid a $1.68 dividend. The ex-dividend date was Tuesday, February 10th. This represents a $6.72 annualized dividend and a dividend yield of 2.7%. International Business Machines’s dividend payout ratio is 60.27%.

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.