Summit Financial Wealth Advisors LLC Decreases Stake in International Business Machines Co. (NYSE:IBM)


Summit Financial Wealth Advisors LLC decreased its stake in shares of International Business Machines Co. (NYSE:IBM) by 9.8% during the fourth quarter, HoldingsChannel reports. The firm owned 45,922 shares of the technology company’s stock after selling 4,967 shares during the quarter. International Business Machines makes up about 1.5% of Summit Financial Wealth Advisors LLC’s investment portfolio, making the stock its 21st largest position. Summit Financial Wealth Advisors LLC’s holdings in International Business Machines were worth $5,587,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of IBM. Stolper Co grew its holdings in shares of International Business Machines by 11.0% during the fourth quarter. Stolper Co now owns 34,297 shares of the technology company’s stock valued at $4,317,000 after buying an additional 3,410 shares during the last quarter. LVM Capital Management Ltd. MI grew its stake in International Business Machines by 4.7% during the 4th quarter. LVM Capital Management Ltd. MI now owns 2,311 shares of the technology company’s stock valued at $291,000 after purchasing an additional 103 shares during the last quarter. NuWave Investment Management LLC increased its holdings in shares of International Business Machines by 330.9% in the fourth quarter. NuWave Investment Management LLC now owns 586 shares of the technology company’s stock valued at $74,000 after purchasing an additional 450 shares during the period. Louisiana State Employees Retirement System raised its stake in shares of International Business Machines by 22.3% in the fourth quarter. Louisiana State Employees Retirement System now owns 55,300 shares of the technology company’s stock worth $6,961,000 after purchasing an additional 10,100 shares during the last quarter. Finally, Sound Income Strategies LLC lifted its holdings in shares of International Business Machines by 30.3% during the fourth quarter. Sound Income Strategies LLC now owns 18,879 shares of the technology company’s stock worth $2,377,000 after purchasing an additional 4,389 shares during the period. 51.92% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:IBM traded up $0.05 during midday trading on Monday, reaching $128.58. 5,595,273 shares of the company’s stock traded hands, compared to its average volume of 5,671,562. The company has a fifty day simple moving average of $124.36 and a two-hundred day simple moving average of $122.03. International Business Machines Co. has a 1 year low of $90.56 and a 1 year high of $158.75. The company has a market cap of $114.57 billion, a P/E ratio of 14.55, a PEG ratio of 4.32 and a beta of 1.25. 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 posted its quarterly earnings data 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 business had revenue of $17.56 billion for the quarter, compared to the consensus estimate of $17.56 billion. International Business Machines had a net margin of 10.53% and a return on equity of 48.69%. The company’s revenue was down 2.6% compared to the same quarter last year. During the same period last year, the firm posted $2.68 earnings per share. As a group, research analysts forecast that International Business Machines Co. will post 8.78 EPS for the current fiscal year.

In other news, Director Sidney Taurel acquired 5,000 shares of the firm’s stock in a transaction on Tuesday, October 27th. The shares were bought at an average price of $110.75 per share, for a total transaction of $553,750.00. Following the acquisition, the director now owns 28,798 shares of the company’s stock, valued at approximately $3,189,378.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David N. Farr bought 1,500 shares of the stock in a transaction on Thursday, October 29th. The shares were acquired at an average cost of $107.74 per share, for a total transaction of $161,610.00. Following the purchase, the director now owns 6,758 shares in the company, valued at $728,106.92. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 13,387 shares of company stock worth $1,513,946. 0.24% of the stock is currently owned by insiders.

A number of equities analysts have issued reports on the stock. BMO Capital Markets reduced their price target on shares of International Business Machines from $140.00 to $138.00 and set a “market perform” rating for the company in a research report on Tuesday, October 20th. Zacks Investment Research downgraded International Business Machines from a “hold” rating to a “sell” rating and set a $124.00 price target on the stock. in a research report on Wednesday, October 21st. Morgan Stanley lifted their price objective on International Business Machines from $128.00 to $140.00 and gave the company an “equal weight” rating in a research note on Friday, October 9th. Finally, ValuEngine upgraded International Business Machines from a “sell” rating to a “hold” rating in a research note on Monday, November 2nd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. 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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Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)



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