International Business Machines Corporation (IBM) Shares Bought by Peddock Capital Advisors LLC

Peddock Capital Advisors LLC increased its position in International Business Machines Corporation (NYSE:IBM) by 7.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 912 shares of the technology company’s stock after acquiring an additional 62 shares during the period. Peddock Capital Advisors LLC’s holdings in International Business Machines Corporation were worth $140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Herndon Capital Management LLC raised its stake in International Business Machines Corporation by 39.0% in the 2nd quarter. Herndon Capital Management LLC now owns 695 shares of the technology company’s stock worth $107,000 after acquiring an additional 195 shares during the last quarter. Edge Wealth Management LLC raised its stake in International Business Machines Corporation by 5.6% in the 2nd quarter. Edge Wealth Management LLC now owns 760 shares of the technology company’s stock worth $117,000 after acquiring an additional 40 shares during the last quarter. Horan Securities Inc. raised its stake in International Business Machines Corporation by 845.5% in the 2nd quarter. Horan Securities Inc. now owns 936 shares of the technology company’s stock worth $144,000 after acquiring an additional 837 shares during the last quarter. Proficio Capital Partners LLC raised its stake in International Business Machines Corporation by 85.1% in the 1st quarter. Proficio Capital Partners LLC now owns 959 shares of the technology company’s stock worth $146,000 after acquiring an additional 441 shares during the last quarter. Finally, CKW Financial Group raised its stake in International Business Machines Corporation by 0.3% in the 2nd quarter. CKW Financial Group now owns 941 shares of the technology company’s stock worth $146,000 after acquiring an additional 3 shares during the last quarter. Institutional investors own 58.35% of the company’s stock.

A number of equities analysts recently issued reports on IBM shares. Vetr upgraded International Business Machines Corporation from a “hold” rating to a “buy” rating and set a $159.56 target price for the company in a research note on Monday, July 10th. Royal Bank Of Canada restated a “hold” rating and issued a $165.00 target price on shares of International Business Machines Corporation in a research note on Wednesday, July 12th. Jefferies Group LLC restated an “underperform” rating and issued a $125.00 target price (down previously from $135.00) on shares of International Business Machines Corporation in a research note on Wednesday, July 12th. Guggenheim restated a “hold” rating on shares of International Business Machines Corporation in a research note on Friday, July 14th. Finally, Credit Suisse Group restated an “underperform” rating and issued a $110.00 target price (down previously from $125.00) on shares of International Business Machines Corporation in a research note on Monday, July 17th. Eight analysts have rated the stock with a sell rating, eighteen have given a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $158.90.

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International Business Machines Corporation (NYSE IBM) opened at $151.58 on Monday. The firm has a market capitalization of $140,331.47, a P/E ratio of 11.10, a PEG ratio of 2.22 and a beta of 0.94. International Business Machines Corporation has a twelve month low of $139.13 and a twelve month high of $182.79. The company has a current ratio of 1.41, a quick ratio of 1.36 and a debt-to-equity ratio of 2.09.

International Business Machines Corporation (NYSE:IBM) last issued its earnings results on Tuesday, October 17th. The technology company reported $3.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.28 by $0.02. The business had revenue of $19.15 billion for the quarter, compared to analysts’ expectations of $18.63 billion. International Business Machines Corporation had a return on equity of 68.68% and a net margin of 14.43%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.29 EPS. research analysts predict that International Business Machines Corporation will post 13.8 earnings per share for the current year.

International Business Machines Corporation declared that its board has approved a share repurchase plan on Tuesday, October 31st that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the technology company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Saturday, December 9th. Stockholders of record on Friday, November 10th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 3.96%. The ex-dividend date is Thursday, November 9th. International Business Machines Corporation’s dividend payout ratio is currently 50.13%.

International Business Machines Corporation Profile

International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.

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Institutional Ownership by Quarter for International Business Machines Corporation (NYSE:IBM)

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