Home Federal Bank of Tennessee Sells 200 Shares of IBM (IBM)

Home Federal Bank of Tennessee lowered its stake in shares of IBM (NYSE:IBM) by 2.0% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 9,957 shares of the technology company’s stock after selling 200 shares during the period. Home Federal Bank of Tennessee’s holdings in IBM were worth $1,405,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Swedbank grew its position in shares of IBM by 3.2% during the 4th quarter. Swedbank now owns 1,159,250 shares of the technology company’s stock valued at $131,030,000 after acquiring an additional 35,526 shares during the period. Glenmede Trust Co. NA grew its position in shares of IBM by 9.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 456,696 shares of the technology company’s stock valued at $69,056,000 after acquiring an additional 38,181 shares during the period. MUFG Securities EMEA plc grew its position in shares of IBM by 44.8% during the 4th quarter. MUFG Securities EMEA plc now owns 216,780 shares of the technology company’s stock valued at $24,641,000 after acquiring an additional 67,055 shares during the period. Oak Associates Ltd. OH grew its position in shares of IBM by 1.3% during the 4th quarter. Oak Associates Ltd. OH now owns 184,274 shares of the technology company’s stock valued at $20,946,000 after acquiring an additional 2,403 shares during the period. Finally, Accident Compensation Corp grew its position in shares of IBM by 2.9% during the 4th quarter. Accident Compensation Corp now owns 52,981 shares of the technology company’s stock valued at $6,022,000 after acquiring an additional 1,500 shares during the period. Institutional investors and hedge funds own 55.58% of the company’s stock.

IBM stock traded up $0.71 during trading on Tuesday, hitting $144.61. The stock had a trading volume of 258,786 shares, compared to its average volume of 3,019,527. The company has a current ratio of 1.29, a quick ratio of 1.24 and a debt-to-equity ratio of 2.10. IBM has a twelve month low of $105.94 and a twelve month high of $162.00. The stock has a market cap of $128.05 billion, a price-to-earnings ratio of 10.47, a PEG ratio of 2.56 and a beta of 1.25.

IBM (NYSE:IBM) last posted its quarterly earnings data on Tuesday, January 22nd. The technology company reported $4.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.82 by $0.05. IBM had a return on equity of 68.61% and a net margin of 10.97%. The company had revenue of $21.76 billion for the quarter, compared to analysts’ expectations of $21.79 billion. During the same period in the previous year, the firm posted $5.14 EPS. IBM’s revenue was down 3.5% compared to the same quarter last year. As a group, equities analysts forecast that IBM will post 13.91 EPS for the current fiscal year.

In other IBM news, insider Diane J. Gherson sold 1,989 shares of the firm’s stock in a transaction that occurred on Wednesday, February 13th. The shares were sold at an average price of $137.25, for a total value of $272,990.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Erich Clementi sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $139.01, for a total transaction of $1,807,130.00. The disclosure for this sale can be found here. Insiders sold a total of 20,867 shares of company stock worth $2,877,569 over the last three months. Corporate insiders own 0.19% of the company’s stock.

A number of equities research analysts have recently commented on the company. Zacks Investment Research cut IBM from a “hold” rating to a “sell” rating in a research report on Monday. Credit Suisse Group assumed coverage on IBM in a research report on Thursday, April 11th. They set an “outperform” rating and a $173.00 target price on the stock. Wells Fargo & Co restated a “market perform” rating and set a $140.00 target price (down from $155.00) on shares of IBM in a research report on Wednesday, January 23rd. Royal Bank of Canada restated an “outperform” rating and set a $167.00 target price (down from $175.00) on shares of IBM in a research report on Monday, December 17th. Finally, Citigroup raised their target price on IBM from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, January 23rd. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $155.53.

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IBM Profile

International Business Machines Corporation operates as an integrated technology and services company worldwide. Its Cognitive Solutions segment offers a portfolio of enterprise artificial intelligence platforms, such as analytics and data management platforms, cloud data services, talent management, and industry solutions primarily under the Watson Platform, Watson Health, and Watson Internet of Things names.

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Institutional Ownership by Quarter for IBM (NYSE:IBM)

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