OLD National Bancorp IN Raises Stock Holdings in International Business Machines Corporation $IBM

OLD National Bancorp IN raised its stake in International Business Machines Corporation (NYSE:IBM) by 4.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 39,467 shares of the technology company’s stock after buying an additional 1,664 shares during the quarter. OLD National Bancorp IN’s holdings in International Business Machines were worth $11,136,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of IBM. Family CFO Inc purchased a new position in shares of International Business Machines in the 2nd quarter worth approximately $25,000. Winnow Wealth LLC acquired a new stake in International Business Machines in the second quarter valued at approximately $27,000. Highline Wealth Partners LLC grew its holdings in International Business Machines by 85.0% in the second quarter. Highline Wealth Partners LLC now owns 111 shares of the technology company’s stock worth $33,000 after purchasing an additional 51 shares during the last quarter. Silicon Valley Capital Partners grew its holdings in International Business Machines by 322.6% in the first quarter. Silicon Valley Capital Partners now owns 131 shares of the technology company’s stock worth $32,000 after purchasing an additional 100 shares during the last quarter. Finally, Copia Wealth Management increased its position in shares of International Business Machines by 57.6% during the second quarter. Copia Wealth Management now owns 134 shares of the technology company’s stock worth $40,000 after purchasing an additional 49 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on IBM. Bank of America boosted their target price on International Business Machines from $310.00 to $315.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Stifel Nicolaus lifted their target price on shares of International Business Machines from $295.00 to $325.00 and gave the stock a “buy” rating in a research note on Tuesday, December 9th. UBS Group reaffirmed a “sell” rating on shares of International Business Machines in a report on Tuesday, December 9th. Erste Group Bank raised International Business Machines from a “hold” rating to a “buy” rating in a research report on Friday, December 5th. Finally, Wall Street Zen lowered International Business Machines from a “buy” rating to a “hold” rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $293.38.

International Business Machines Price Performance

NYSE:IBM opened at $302.97 on Tuesday. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.93 and a quick ratio of 0.89. The company has a 50 day moving average price of $301.54 and a 200-day moving average price of $280.02. International Business Machines Corporation has a 1-year low of $214.50 and a 1-year high of $324.90. The firm has a market cap of $283.20 billion, a price-to-earnings ratio of 36.24, a price-to-earnings-growth ratio of 3.00 and a beta of 0.69.

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

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th were issued a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Monday, November 10th. International Business Machines’s dividend payout ratio (DPR) is presently 80.38%.

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.