Tradition Capital Management LLC Has $4.05 Million Position in IBM (IBM)

Tradition Capital Management LLC increased its position in shares of IBM (NYSE:IBM) by 195.6% during the 1st quarter, HoldingsChannel reports. The fund owned 28,684 shares of the technology company’s stock after purchasing an additional 18,980 shares during the period. Tradition Capital Management LLC’s holdings in IBM were worth $4,047,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nalls Sherbakoff Group LLC acquired a new stake in shares of IBM during the 4th quarter worth approximately $34,000. Sycomore Asset Management bought a new stake in IBM during the 4th quarter worth approximately $81,000. Sharkey Howes & Javer increased its holdings in IBM by 75.9% during the 4th quarter. Sharkey Howes & Javer now owns 721 shares of the technology company’s stock worth $82,000 after acquiring an additional 311 shares during the period. Sonora Investment Management LLC increased its holdings in IBM by 166.2% during the 4th quarter. Sonora Investment Management LLC now owns 1,637 shares of the technology company’s stock worth $186,000 after acquiring an additional 1,022 shares during the period. Finally, Peoples Bank OH bought a new stake in IBM during the 1st quarter worth approximately $226,000. Institutional investors and hedge funds own 55.76% of the company’s stock.

A number of analysts recently weighed in on the stock. ValuEngine raised shares of IBM from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Zacks Investment Research raised shares of IBM from a “sell” rating to a “hold” rating in a research note on Monday, April 22nd. UBS Group set a $160.00 price target on shares of IBM and gave the stock a “buy” rating in a research note on Wednesday, April 17th. BMO Capital Markets boosted their price target on shares of IBM from $147.00 to $155.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 17th. They noted that the move was a valuation call. Finally, Citigroup boosted their price target on shares of IBM from $130.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $155.72.

Shares of IBM stock traded up $0.72 during trading on Wednesday, reaching $134.04. The company’s stock had a trading volume of 762,210 shares, compared to its average volume of 4,099,449. IBM has a 52-week low of $105.94 and a 52-week high of $154.36. The stock has a market capitalization of $116.52 billion, a price-to-earnings ratio of 9.71, a price-to-earnings-growth ratio of 2.39 and a beta of 1.23. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.31 and a current ratio of 1.36.

IBM (NYSE:IBM) last announced its quarterly earnings results on Tuesday, April 16th. The technology company reported $2.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.22 by $0.03. The business had revenue of $18.18 billion during the quarter, compared to analysts’ expectations of $18.53 billion. IBM had a net margin of 10.98% and a return on equity of 68.76%. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.45 EPS. On average, equities research analysts forecast that IBM will post 13.89 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $6.48 annualized dividend and a yield of 4.83%. This is a boost from IBM’s previous quarterly dividend of $1.57. IBM’s dividend payout ratio is presently 46.92%.

In other IBM news, insider Erich Clementi sold 13,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $139.01, for a total transaction of $1,807,130.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.19% of the company’s stock.

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IBM Company 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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