Riverhead Capital Management LLC Increases Stake in International Business Machines Corporation (IBM)

Riverhead Capital Management LLC grew its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 18.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,124 shares of the technology company’s stock after buying an additional 4,941 shares during the period. Riverhead Capital Management LLC’s holdings in International Business Machines were worth $4,942,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Herndon Capital Management LLC boosted its holdings in shares of International Business Machines by 39.0% during the 2nd quarter. Herndon Capital Management LLC now owns 695 shares of the technology company’s stock valued at $107,000 after buying an additional 195 shares in the last quarter. Edge Wealth Management LLC boosted its holdings in shares of International Business Machines by 5.6% during the 2nd quarter. Edge Wealth Management LLC now owns 760 shares of the technology company’s stock valued at $117,000 after buying an additional 40 shares in the last quarter. Peddock Capital Advisors LLC boosted its holdings in shares of International Business Machines by 7.3% during the 2nd quarter. Peddock Capital Advisors LLC now owns 912 shares of the technology company’s stock valued at $140,000 after buying an additional 62 shares in the last quarter. Horan Securities Inc. boosted its holdings in shares of International Business Machines by 845.5% during the 2nd quarter. Horan Securities Inc. now owns 936 shares of the technology company’s stock valued at $144,000 after buying an additional 837 shares in the last quarter. Finally, Proficio Capital Partners LLC boosted its holdings in shares of International Business Machines by 85.1% during the 1st quarter. Proficio Capital Partners LLC now owns 959 shares of the technology company’s stock valued at $146,000 after buying an additional 441 shares in the last quarter. Hedge funds and other institutional investors own 57.26% of the company’s stock.

Shares of International Business Machines Corporation (NYSE IBM) traded down $0.77 during trading hours on Wednesday, reaching $154.58. The company’s stock had a trading volume of 748,324 shares, compared to its average volume of 4,263,785. International Business Machines Corporation has a fifty-two week low of $139.13 and a fifty-two week 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. The stock has a market cap of $144,849.33, a price-to-earnings ratio of 11.45, a price-to-earnings-growth ratio of 2.29 and a beta of 0.94.

International Business Machines (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 Zacks’ consensus estimate of $3.28 by $0.02. International Business Machines had a return on equity of 68.68% and a net margin of 14.43%. The business had revenue of $19.15 billion during the quarter, compared to analyst estimates of $18.63 billion. During the same quarter in the previous year, the firm earned $3.29 EPS. International Business Machines’s revenue was down .4% on a year-over-year basis. sell-side analysts anticipate that International Business Machines Corporation will post 13.8 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 9th. Shareholders of record on Friday, November 10th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date is Thursday, November 9th. International Business Machines’s dividend payout ratio (DPR) is 50.13%.

A number of analysts have recently commented on IBM shares. UBS restated a “hold” rating and set a $152.00 target price on shares of International Business Machines in a report on Tuesday, September 5th. BidaskClub raised International Business Machines from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. Vetr raised International Business Machines from a “buy” rating to a “strong-buy” rating and set a $165.26 price target for the company in a research report on Wednesday, November 15th. Morgan Stanley reaffirmed an “overweight” rating and issued a $192.00 price target on shares of International Business Machines in a research report on Wednesday, August 23rd. Finally, KeyCorp reaffirmed a “hold” rating on shares of International Business Machines in a research report on Friday, November 3rd. Eight research analysts have rated the stock with a sell rating, seventeen have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $159.12.

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International Business Machines Company 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 (NYSE:IBM)

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