International Business Machines Corporation $IBM Shares Bought by Bank of Montreal Can

Bank of Montreal Can grew its position in International Business Machines Corporation (NYSE:IBM) by 10.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,315,192 shares of the technology company’s stock after buying an additional 124,950 shares during the quarter. Bank of Montreal Can owned 0.14% of International Business Machines worth $371,095,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IBM. Vanguard Group Inc. raised its position in shares of International Business Machines by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 95,776,307 shares of the technology company’s stock worth $27,024,243,000 after purchasing an additional 724,832 shares during the last quarter. State Street Corp lifted its position in shares of International Business Machines by 0.3% in the second quarter. State Street Corp now owns 54,536,963 shares of the technology company’s stock valued at $16,076,406,000 after acquiring an additional 147,721 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of International Business Machines by 1.9% during the second quarter. Geode Capital Management LLC now owns 21,936,235 shares of the technology company’s stock valued at $6,444,527,000 after acquiring an additional 400,131 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of International Business Machines by 2.5% during the third quarter. Legal & General Group Plc now owns 7,302,722 shares of the technology company’s stock valued at $2,060,536,000 after acquiring an additional 176,219 shares during the last quarter. Finally, Norges Bank purchased a new stake in International Business Machines during the 2nd quarter worth about $2,011,122,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

IBM opened at $253.38 on Tuesday. International Business Machines Corporation has a 1 year low of $214.50 and a 1 year high of $324.90. The company’s 50 day simple moving average is $280.69 and its 200 day simple moving average is $284.68. The stock has a market capitalization of $237.68 billion, a PE ratio of 22.72, a P/E/G ratio of 2.59 and a beta of 0.73. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.92 and a current ratio of 0.96.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, January 28th. The technology company reported $4.52 EPS for the quarter, topping the consensus estimate of $4.33 by $0.19. The firm had revenue of $19.69 billion during the quarter, compared to analyst estimates of $19.23 billion. International Business Machines had a net margin of 15.69% and a return on equity of 38.15%. International Business Machines’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.92 earnings per share. As a group, sell-side analysts expect that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 10th will be issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Tuesday, February 10th. International Business Machines’s dividend payout ratio is presently 60.27%.

Insider Buying and Selling at International Business Machines

In other news, Director Michael Miebach bought 434 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The shares were acquired at an average cost of $233.33 per share, with a total value of $101,265.22. Following the transaction, the director owned 434 shares of the company’s stock, valued at $101,265.22. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director David N. Farr bought 1,000 shares of International Business Machines stock in a transaction that occurred on Friday, January 30th. The stock was purchased at an average price of $304.00 per share, for a total transaction of $304,000.00. Following the acquisition, the director directly owned 9,258 shares of the company’s stock, valued at $2,814,432. The trade was a 12.11% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased a total of 1,484 shares of company stock worth $417,157 over the last ninety days. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

IBM has been the topic of a number of recent research reports. Oppenheimer set a $380.00 target price on shares of International Business Machines and gave the company an “outperform” rating in a report on Thursday, January 29th. Erste Group Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Dbs Bank upgraded International Business Machines from a “hold” rating to a “moderate buy” rating in a report on Monday, January 19th. Argus set a $360.00 price target on International Business Machines in a research note on Friday, January 30th. Finally, Wall Street Zen cut International Business Machines from a “buy” rating to a “hold” rating in a report on Sunday, January 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $320.87.

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.