Chevy Chase Trust Holdings Inc. Acquires 17,270 Shares of International Business Machines Corp. (IBM)

Chevy Chase Trust Holdings Inc. lifted its position in shares of International Business Machines Corp. (NYSE:IBM) by 2.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 786,001 shares of the technology company’s stock after purchasing an additional 17,270 shares during the period. Chevy Chase Trust Holdings Inc.’s holdings in International Business Machines were worth $114,033,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Private Capital Management Inc. lifted its position in shares of International Business Machines by 71.3% during the third quarter. Private Capital Management Inc. now owns 3,425 shares of the technology company’s stock worth $497,000 after purchasing an additional 1,425 shares in the last quarter. Convergence Investment Partners LLC lifted its position in shares of International Business Machines by 3.2% during the second quarter. Convergence Investment Partners LLC now owns 16,170 shares of the technology company’s stock worth $2,488,000 after purchasing an additional 504 shares in the last quarter. Hourglass Capital LLC lifted its position in shares of International Business Machines by 83.5% during the second quarter. Hourglass Capital LLC now owns 51,680 shares of the technology company’s stock worth $7,950,000 after purchasing an additional 23,510 shares in the last quarter. Flippin Bruce & Porter Inc. lifted its position in shares of International Business Machines by 6.2% during the second quarter. Flippin Bruce & Porter Inc. now owns 85,378 shares of the technology company’s stock worth $13,134,000 after purchasing an additional 4,956 shares in the last quarter. Finally, Intl Fcstone Inc. acquired a new position in shares of International Business Machines during the second quarter worth $1,116,000. 57.06% of the stock is currently owned by institutional investors and hedge funds.

IBM has been the topic of a number of recent research reports. UBS Group reissued a “neutral” rating and set a $160.00 target price (up from $152.00) on shares of International Business Machines in a research report on Wednesday, October 18th. Morgan Stanley cut shares of International Business Machines from an “equal weight” rating to an “underweight” rating and boosted their target price for the stock from $200.00 to $205.00 in a research report on Tuesday, January 23rd. Societe Generale set a $149.00 target price on shares of International Business Machines and gave the stock a “sell” rating in a research report on Friday, January 19th. Vetr raised shares of International Business Machines from a “buy” rating to a “strong-buy” rating and set a $173.45 price target on the stock in a report on Wednesday, December 6th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and issued a $154.00 price target on shares of International Business Machines in a report on Friday, October 13th. Seven equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. International Business Machines presently has an average rating of “Hold” and an average target price of $164.37.

International Business Machines Corp. (NYSE:IBM) opened at $147.59 on Friday. The company has a market cap of $136,640.00, a PE ratio of 24.16, a PEG ratio of 2.27 and a beta of 0.94. The company has a current ratio of 1.33, a quick ratio of 1.29 and a debt-to-equity ratio of 2.25. International Business Machines Corp. has a 12-month low of $139.13 and a 12-month high of $182.79.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Thursday, January 18th. The technology company reported $5.18 EPS for the quarter, topping the consensus estimate of $5.17 by $0.01. The business had revenue of $22.54 billion during the quarter, compared to analyst estimates of $22.03 billion. International Business Machines had a net margin of 7.27% and a return on equity of 69.48%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.01 earnings per share. research analysts expect that International Business Machines Corp. will post 13.82 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 10th. Stockholders of record on Friday, February 9th will be given a dividend of $1.50 per share. The ex-dividend date is Thursday, February 8th. This represents a $6.00 annualized dividend and a dividend yield of 4.07%. International Business Machines’s dividend payout ratio is currently 98.20%.

In other news, Director Frederick H. Waddell purchased 610 shares of the stock in a transaction dated Wednesday, January 31st. The stock was acquired at an average price of $163.38 per share, for a total transaction of $99,661.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.23% of the stock is currently owned by corporate insiders.

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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.

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

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