Orrstown Financial Services Inc. reduced its stake in shares of International Business Machines Co. (NYSE:IBM) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,477 shares of the technology company’s stock after selling 100 shares during the period. Orrstown Financial Services Inc.’s holdings in International Business Machines were worth $438,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Simon Quick Advisors LLC grew its holdings in International Business Machines by 67.9% during the 3rd quarter. Simon Quick Advisors LLC now owns 225 shares of the technology company’s stock worth $27,000 after acquiring an additional 91 shares in the last quarter. Moisand Fitzgerald Tamayo LLC boosted its holdings in shares of International Business Machines by 56.6% in the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 274 shares of the technology company’s stock valued at $33,000 after buying an additional 99 shares during the period. Northwest Investment Counselors LLC acquired a new position in shares of International Business Machines in the 3rd quarter valued at about $50,000. Paces Ferry Wealth Advisors LLC acquired a new position in shares of International Business Machines in the 3rd quarter valued at about $57,000. Finally, NuWave Investment Management LLC boosted its holdings in shares of International Business Machines by 330.9% in the 4th quarter. NuWave Investment Management LLC now owns 586 shares of the technology company’s stock valued at $74,000 after buying an additional 450 shares during the period. 51.92% of the stock is owned by institutional investors.
Shares of NYSE:IBM traded down $2.29 during midday trading on Wednesday, hitting $126.92. The company’s stock had a trading volume of 6,210,867 shares, compared to its average volume of 5,673,650. The stock has a market capitalization of $113.09 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 4.32 and a beta of 1.25. The stock’s 50 day simple moving average is $125.45 and its 200 day simple moving average is $122.28. International Business Machines Co. has a fifty-two week low of $90.56 and a fifty-two week high of $158.75. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.00 and a current ratio of 1.05.
International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Monday, October 19th. The technology company reported $2.58 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $2.58. The company had revenue of $17.56 billion for the quarter, compared to the consensus estimate of $17.56 billion. International Business Machines had a return on equity of 48.69% and a net margin of 10.53%. The firm’s revenue was down 2.6% compared to the same quarter last year. During the same period last year, the business posted $2.68 earnings per share. As a group, analysts anticipate that International Business Machines Co. will post 8.78 EPS for the current year.
In related news, Director Andrew N. Liveris bought 2,655 shares of International Business Machines stock in a transaction that occurred on Monday, November 2nd. The stock was acquired at an average price of $112.92 per share, for a total transaction of $299,802.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alex Gorsky bought 4,232 shares of International Business Machines stock in a transaction that occurred on Monday, November 9th. The stock was bought at an average price of $117.86 per share, with a total value of $498,783.52. Following the purchase, the director now owns 4,232 shares of the company’s stock, valued at approximately $498,783.52. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 13,387 shares of company stock worth $1,513,946. 0.24% of the stock is currently owned by company insiders.
Several analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of International Business Machines from a “hold” rating to a “sell” rating and set a $124.00 price objective on the stock. in a research report on Wednesday, October 21st. Morgan Stanley boosted their price target on shares of International Business Machines from $128.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Friday, October 9th. BMO Capital Markets dropped their target price on shares of International Business Machines from $140.00 to $138.00 and set a “market perform” rating on the stock in a report on Tuesday, October 20th. Finally, ValuEngine upgraded shares of International Business Machines from a “sell” rating to a “hold” rating in a report on Monday, November 2nd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $139.06.
International Business Machines Company Profile
International Business Machines Corporation provides integrated solutions and services worldwide. Its Cloud & Cognitive Software segment offers software for vertical and domain-specific solutions in health, financial services, and Internet of Things (IoT), weather, and security software and services application areas; and customer information control system and storage, and analytics and integration software solutions to support client mission critical on-premise workloads in banking, airline, and retail industries.
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