Cranbrook Wealth Management LLC Continues to Hold Position in International Business Machines Corporation (IBM)

Cranbrook Wealth Management LLC held its stake in International Business Machines Corporation (NYSE:IBM) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,533 shares of the technology company’s stock at the end of the second quarter. Cranbrook Wealth Management LLC’s holdings in International Business Machines were worth $390,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Herndon Capital Management LLC lifted its holdings in International Business Machines by 39.0% in the 2nd quarter. Herndon Capital Management LLC now owns 695 shares of the technology company’s stock valued at $107,000 after purchasing an additional 195 shares in the last quarter. Edge Wealth Management LLC increased its stake in shares of International Business Machines 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. Peddock Capital Advisors LLC increased its stake in shares of International Business Machines by 7.3% in the 2nd quarter. Peddock Capital Advisors LLC now owns 912 shares of the technology company’s stock worth $140,000 after acquiring an additional 62 shares during the last quarter. Horan Securities Inc. increased its stake in shares of International Business Machines 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. Finally, Proficio Capital Partners LLC increased its stake in shares of International Business Machines 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. Hedge funds and other institutional investors own 57.26% of the company’s stock.

IBM has been the subject of a number of recent research reports. Vetr raised International Business Machines from a “hold” rating to a “buy” rating and set a $150.93 target price for the company in a research note on Thursday, August 24th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $182.00 target price on shares of International Business Machines in a research note on Friday, October 6th. ValuEngine raised International Business Machines from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Drexel Hamilton reaffirmed a “buy” rating and issued a $200.00 target price on shares of International Business Machines in a research note on Tuesday, October 17th. Finally, Pivotal Research initiated coverage on International Business Machines in a research note on Friday, October 27th. They issued a “buy” rating and a $180.00 target price for the company. Eight investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $159.24.

Shares of International Business Machines Corporation (NYSE IBM) traded down $1.25 on Thursday, hitting $154.10. The stock had a trading volume of 3,410,700 shares, compared to its average volume of 4,260,154. The company has a quick ratio of 1.36, a current ratio of 1.41 and a debt-to-equity ratio of 2.09. The stock has a market cap of $143,821.70, a PE ratio of 11.37, a PEG ratio of 2.27 and a beta of 0.94. International Business Machines Corporation has a fifty-two week low of $139.13 and a fifty-two week high of $182.79.

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

The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 9th. Investors of record on Friday, November 10th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend is Thursday, November 9th. International Business Machines’s payout ratio is 50.13%.

WARNING: This article was first reported by Community Financial News and is the property of of Community Financial News. If you are viewing this article on another domain, it was copied illegally and reposted in violation of U.S. and international trademark & copyright laws. The legal version of this article can be accessed at https://www.com-unik.info/2017/12/07/cranbrook-wealth-management-llc-continues-to-hold-position-in-international-business-machines-corporation-ibm.html.

About International Business Machines

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.

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

What are top analysts saying about International Business Machines Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for International Business Machines Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit