Beddow Capital Management Inc. decreased its holdings in IBM (NYSE:IBM) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,359 shares of the technology company’s stock after selling 2,110 shares during the quarter. IBM comprises 4.6% of Beddow Capital Management Inc.’s investment portfolio, making the stock its 4th largest holding. Beddow Capital Management Inc.’s holdings in IBM were worth $11,255,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in IBM. BlackRock Inc. increased its stake in IBM by 5.4% in the 4th quarter. BlackRock Inc. now owns 57,755,152 shares of the technology company’s stock valued at $8,860,797,000 after buying an additional 2,960,682 shares during the period. Vanguard Group Inc. grew its stake in shares of IBM by 3.7% during the 2nd quarter. Vanguard Group Inc. now owns 62,228,040 shares of the technology company’s stock worth $9,572,538,000 after purchasing an additional 2,241,818 shares during the period. Nordea Investment Management AB grew its stake in shares of IBM by 151.2% during the 2nd quarter. Nordea Investment Management AB now owns 3,250,047 shares of the technology company’s stock worth $499,955,000 after purchasing an additional 1,956,033 shares during the period. Janus Henderson Group PLC grew its stake in shares of IBM by 1,155.3% during the 2nd quarter. Janus Henderson Group PLC now owns 1,358,103 shares of the technology company’s stock worth $208,923,000 after purchasing an additional 1,249,916 shares during the period. Finally, Stifel Financial Corp grew its stake in shares of IBM by 9,678.2% during the 3rd quarter. Stifel Financial Corp now owns 815,897 shares of the technology company’s stock worth $118,347,000 after purchasing an additional 807,553 shares during the period. 57.02% of the stock is currently owned by institutional investors.
A number of research firms have recently weighed in on IBM. BMO Capital Markets reaffirmed a “hold” rating and set a $175.00 price target on shares of IBM in a research note on Thursday, January 11th. They noted that the move was a valuation call. Zacks Investment Research raised shares of IBM from a “sell” rating to a “hold” rating in a research note on Wednesday, January 10th. JPMorgan Chase set a $167.00 price target on shares of IBM and gave the stock a “neutral” rating in a research note on Friday, January 19th. Pivotal Research set a $180.00 price target on shares of IBM and gave the stock a “buy” rating in a research note on Thursday, January 18th. Finally, Wedbush reaffirmed a “neutral” rating and set a $185.00 price target (up from $155.00) on shares of IBM in a research note on Thursday, January 18th. They noted that the move was a valuation call. Seven investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $166.01.
IBM (NYSE:IBM) last issued its quarterly earnings data on Thursday, January 18th. The technology company reported $5.18 EPS for the quarter, beating the Zacks’ consensus estimate of $5.17 by $0.01. The firm had revenue of $22.54 billion for the quarter, compared to analysts’ expectations of $22.03 billion. IBM had a net margin of 7.27% and a return on equity of 69.48%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the company earned $5.01 EPS. equities research analysts expect that IBM will post 13.83 earnings per share for the current year.
In other IBM news, Director Frederick H. Waddell acquired 610 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were purchased at an average cost of $163.38 per share, with a total value of $99,661.80. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Diane J. Gherson sold 5,000 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $156.00, for a total transaction of $780,000.00. Following the completion of the sale, the insider now directly owns 20,581 shares in the company, valued at $3,210,636. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by corporate insiders.
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International Business Machines Corporation operates as an integrated technology and services company worldwide. Its Cognitive Solutions segment offers Watson, a cognitive computing platform that interacts in natural language, processes big data, and learns from interactions with people and computers.
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