Excalibur Management Corp Purchases 720 Shares of IBM (NYSE:IBM)

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Excalibur Management Corp boosted its position in shares of IBM (NYSE:IBM) by 8.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,018 shares of the technology company’s stock after purchasing an additional 720 shares during the period. IBM comprises 1.2% of Excalibur Management Corp’s holdings, making the stock its 23rd biggest holding. Excalibur Management Corp’s holdings in IBM were worth $1,311,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of IBM. Swedbank grew its holdings in IBM by 10.7% during the 2nd quarter. Swedbank now owns 1,554,671 shares of the technology company’s stock valued at $214,389,000 after purchasing an additional 150,472 shares during the last quarter. Paloma Partners Management Co lifted its position in shares of IBM by 931.5% in the 2nd quarter. Paloma Partners Management Co now owns 113,985 shares of the technology company’s stock worth $15,719,000 after purchasing an additional 102,935 shares during the period. Atlantic Union Bankshares Corp lifted its position in shares of IBM by 706.9% in the 2nd quarter. Atlantic Union Bankshares Corp now owns 35,641 shares of the technology company’s stock worth $4,915,000 after purchasing an additional 31,224 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of IBM by 15.0% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 217,102 shares of the technology company’s stock worth $29,938,000 after purchasing an additional 28,256 shares during the period. Finally, Amundi Pioneer Asset Management Inc. lifted its position in shares of IBM by 1.1% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 2,500,954 shares of the technology company’s stock worth $352,883,000 after purchasing an additional 27,813 shares during the period. Institutional investors own 55.44% of the company’s stock.

IBM stock traded down $1.63 during mid-day trading on Monday, reaching $132.46. 3,935,541 shares of the company traded hands, compared to its average volume of 3,739,219. The company has a debt-to-equity ratio of 3.40, a current ratio of 1.09 and a quick ratio of 1.79. IBM has a fifty-two week low of $105.94 and a fifty-two week high of $152.95. The company has a market capitalization of $118.94 billion, a price-to-earnings ratio of 9.59, a price-to-earnings-growth ratio of 2.10 and a beta of 1.33. The firm’s fifty day moving average is $141.01 and its two-hundred day moving average is $139.35.

IBM (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 16th. The technology company reported $2.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.67 by $0.01. IBM had a net margin of 10.00% and a return on equity of 67.12%. The business had revenue of $18.03 billion for the quarter, compared to analyst estimates of $18.29 billion. During the same quarter in the prior year, the business posted $3.42 EPS. IBM’s revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, equities research analysts predict that IBM will post 12.8 earnings per share for the current year.

Several brokerages have recently weighed in on IBM. Nomura lowered their price target on shares of IBM from $175.00 to $170.00 and set a “buy” rating for the company in a research report on Thursday. JPMorgan Chase & Co. reissued a “neutral” rating and set a $152.00 target price on shares of IBM in a research report on Monday, August 12th. Credit Suisse Group reissued a “buy” rating and set a $173.00 target price on shares of IBM in a research report on Friday, July 19th. Bank of America increased their target price on shares of IBM from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Finally, Wedbush reissued a “neutral” rating and set a $155.00 target price (down previously from $165.00) on shares of IBM in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the stock. IBM has a consensus rating of “Hold” and an average price target of $154.38.

IBM Profile

International Business Machines Corporation operates as an integrated technology and services company worldwide. Its Cognitive Solutions segment offers a portfolio of enterprise artificial intelligence platforms, such as analytics and data management platforms, cloud data services, talent management, and industry solutions primarily under the Watson Platform, Watson Health, and Watson Internet of Things names.

Read More: Market Capitalization – What it Means for Investors

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Institutional Ownership by Quarter for IBM (NYSE:IBM)

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