Logan Capital Management Inc. Trims Holdings in IBM (IBM)

Logan Capital Management Inc. lowered its position in IBM (NYSE:IBM) by 2.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 129,619 shares of the technology company’s stock after selling 3,745 shares during the quarter. IBM accounts for about 1.4% of Logan Capital Management Inc.’s holdings, making the stock its 19th largest position. Logan Capital Management Inc.’s holdings in IBM were worth $19,886,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in IBM. ETF Managers Group LLC bought a new position in shares of IBM during the 2nd quarter worth approximately $121,000. Price Wealth Management Inc. bought a new position in shares of IBM during the 4th quarter worth approximately $122,000. Cerebellum GP LLC bought a new position in shares of IBM during the 4th quarter worth approximately $126,000. Horan Capital Advisors LLC. bought a new position in shares of IBM during the 3rd quarter worth approximately $136,000. Finally, Capital Analysts LLC lifted its position in shares of IBM by 100.5% during the 4th quarter. Capital Analysts LLC now owns 1,129 shares of the technology company’s stock worth $125,000 after buying an additional 566 shares during the period. Institutional investors own 57.01% of the company’s stock.

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Several equities analysts recently commented on IBM shares. Zacks Investment Research downgraded IBM from a “hold” rating to a “sell” rating in a research report on Tuesday, December 19th. Societe Generale set a $149.00 target price on IBM and gave the stock a “sell” rating in a research report on Friday, January 19th. Cantor Fitzgerald restated a “hold” rating and set a $152.00 target price on shares of IBM in a research report on Friday, January 19th. Morgan Stanley raised their target price on IBM to $198.00 and gave the stock an “overweight” rating in a research report on Friday, January 19th. Finally, Royal Bank of Canada upgraded IBM from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $160.00 to $180.00 in a research report on Wednesday, January 3rd. They noted that the move was a valuation call. Seven equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $166.01.

In other news, Director Frederick H. Waddell bought 610 shares of the stock in a transaction dated Wednesday, January 31st. The stock was bought at an average cost of $163.38 per share, with a total value of $99,661.80. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Diane J. Gherson sold 5,000 shares of IBM stock in a transaction on Monday, February 26th. The shares were sold at an average price of $156.00, for a total value of $780,000.00. Following the completion of the sale, the insider now directly owns 20,581 shares of the company’s stock, valued at $3,210,636. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by company insiders.

NYSE IBM opened at $157.89 on Tuesday. The firm has a market capitalization of $144,356.22, a PE ratio of 11.44, a PEG ratio of 2.29 and a beta of 0.90. IBM has a 52 week low of $139.13 and a 52 week high of $171.69. The company has a quick ratio of 1.29, a current ratio of 1.33 and a debt-to-equity ratio of 2.25.

IBM (NYSE:IBM) last released its earnings results on Thursday, January 18th. The technology company reported $5.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $5.17 by $0.01. The company had revenue of $22.54 billion during the quarter, compared to analysts’ expectations of $22.03 billion. IBM had a return on equity of 69.48% and a net margin of 7.27%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the firm earned $5.01 EPS. equities research analysts expect that IBM will post 13.83 EPS for the current year.

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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 Watson, a cognitive computing platform that interacts in natural language, processes big data, and learns from interactions with people and computers.

Institutional Ownership by Quarter for IBM (NYSE:IBM)

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