Bleakley Financial Group LLC Raises Holdings in International Business Machines Corporation $IBM

Bleakley Financial Group LLC lifted its holdings in International Business Machines Corporation (NYSE:IBM) by 20.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,924 shares of the technology company’s stock after purchasing an additional 7,301 shares during the quarter. Bleakley Financial Group LLC’s holdings in International Business Machines were worth $12,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Winnow Wealth LLC bought a new stake in shares of International Business Machines in the second quarter worth approximately $27,000. Mountain Hill Investment Partners Corp. bought a new position in International Business Machines during the third quarter valued at approximately $28,000. Trifecta Capital Advisors LLC boosted its holdings in International Business Machines by 129.1% in the third quarter. Trifecta Capital Advisors LLC now owns 126 shares of the technology company’s stock worth $36,000 after purchasing an additional 71 shares during the last quarter. Legacy Wealth Managment LLC ID grew its position in International Business Machines by 48.5% in the 2nd quarter. Legacy Wealth Managment LLC ID now owns 147 shares of the technology company’s stock worth $43,000 after purchasing an additional 48 shares during the period. Finally, Davis Capital Management purchased a new stake in International Business Machines during the 3rd quarter valued at $54,000. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Up 0.4%

IBM stock opened at $257.20 on Friday. The business’s 50-day moving average price is $294.08 and its 200-day moving average price is $284.23. The stock has a market cap of $240.41 billion, a P/E ratio of 23.07, a PEG ratio of 2.58 and a beta of 0.69. International Business Machines Corporation has a twelve month low of $214.50 and a twelve month high of $324.90. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 1.67.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, January 28th. The technology company reported $4.52 earnings per share for the quarter, beating the consensus estimate of $4.33 by $0.19. The business had revenue of $19.69 billion for the quarter, compared to the consensus estimate of $19.23 billion. International Business Machines had a net margin of 15.69% and a return on equity of 38.15%. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.92 earnings per share. On average, equities research analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 10th will be paid a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Tuesday, February 10th. International Business Machines’s dividend payout ratio is presently 60.27%.

Insider Buying and Selling

In other International Business Machines news, Director David N. Farr acquired 1,000 shares of the stock in a transaction dated Friday, January 30th. The shares were acquired at an average cost of $304.00 per share, for a total transaction of $304,000.00. Following the completion of the transaction, the director directly owned 9,258 shares of the company’s stock, valued at approximately $2,814,432. The trade was a 12.11% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of research reports. BMO Capital Markets restated a “market perform” rating and issued a $350.00 price target on shares of International Business Machines in a research note on Thursday, January 29th. Erste Group Bank cut International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday. Weiss Ratings restated a “buy (b)” rating on shares of International Business Machines in a research note on Thursday, January 22nd. Wedbush increased their price objective on shares of International Business Machines from $325.00 to $340.00 and gave the stock an “outperform” rating in a research note on Thursday, January 29th. Finally, Royal Bank Of Canada set a $361.00 price objective on shares of International Business Machines in a report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, International Business Machines has an average rating of “Moderate Buy” and a consensus price target of $330.07.

About International Business Machines

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.