GLOBALT Investments LLC GA Raises Holdings in International Business Machines Corporation $IBM

GLOBALT Investments LLC GA increased its position in International Business Machines Corporation (NYSE:IBM) by 1,143.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 15,358 shares of the technology company’s stock after acquiring an additional 14,123 shares during the quarter. GLOBALT Investments LLC GA’s holdings in International Business Machines were worth $4,333,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of International Business Machines by 12.4% in the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock worth $4,619,000 after purchasing an additional 2,323 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in International Business Machines by 38.3% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 330,222 shares of the technology company’s stock worth $82,113,000 after buying an additional 91,468 shares during the period. FORA Capital LLC bought a new position in International Business Machines in the 1st quarter worth approximately $517,000. Samalin Investment Counsel LLC purchased a new position in International Business Machines in the 1st quarter valued at approximately $344,000. Finally, Per Stirling Capital Management LLC. raised its holdings in International Business Machines by 5.8% during the 1st quarter. Per Stirling Capital Management LLC. now owns 2,518 shares of the technology company’s stock valued at $626,000 after acquiring an additional 137 shares during the period. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Price Performance

International Business Machines stock opened at $303.93 on Wednesday. The stock has a market cap of $284.09 billion, a price-to-earnings ratio of 36.35, a PEG ratio of 3.02 and a beta of 0.69. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 1.97. The business has a 50-day simple moving average of $302.10 and a 200 day simple moving average of $280.26. International Business Machines Corporation has a 52 week low of $214.50 and a 52 week high of $324.90.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 22nd. The technology company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.20. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.The firm had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.10 billion. During the same quarter last year, the company posted $2.30 EPS. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, research analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th were given a dividend of $1.68 per share. The ex-dividend date was Monday, November 10th. This represents a $6.72 annualized dividend and a yield of 2.2%. International Business Machines’s payout ratio is presently 80.38%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on IBM. Wall Street Zen lowered International Business Machines from a “buy” rating to a “hold” rating in a report on Saturday. Sanford C. Bernstein reissued a “market perform” rating on shares of International Business Machines in a report on Wednesday, December 10th. Erste Group Bank upgraded International Business Machines from a “hold” rating to a “buy” rating in a research note on Friday, December 5th. Bank of America lifted their target price on International Business Machines from $310.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Finally, Jefferies Financial Group upped their price target on International Business Machines from $280.00 to $305.00 and gave the company a “hold” rating in a research report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, International Business Machines currently has a consensus rating of “Moderate Buy” and a consensus price target of $293.38.

International Business Machines Company 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.