W.G. Shaheen & Associates DBA Whitney & Co Sells 600 Shares of IBM (IBM)

W.G. Shaheen & Associates DBA Whitney & Co lessened its holdings in IBM (NYSE:IBM) by 8.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,541 shares of the technology company’s stock after selling 600 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in IBM were worth $1,004,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of IBM. BlackRock Inc. raised its position in IBM by 5.4% in the fourth quarter. BlackRock Inc. now owns 57,755,152 shares of the technology company’s stock worth $8,860,797,000 after purchasing an additional 2,960,682 shares in the last quarter. Vanguard Group Inc. raised its position in IBM by 3.7% in the second 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 in the last quarter. Nordea Investment Management AB raised its position in IBM by 151.2% in the second 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 in the last quarter. Janus Henderson Group PLC raised its position in IBM by 1,155.3% in the second 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 in the last quarter. Finally, Stifel Financial Corp raised its position in IBM by 9,678.2% in the third 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 in the last quarter. 57.01% of the stock is owned by hedge funds and other institutional investors.

In other IBM news, insider Diane J. Gherson sold 5,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 20,581 shares of the company’s stock, valued at $3,210,636. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Erich Clementi sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $154.66, for a total transaction of $2,010,580.00. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.

Several research analysts recently issued reports on the stock. BMO Capital Markets reissued a “hold” rating and issued a $175.00 price target on shares of IBM in a research report 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 report on Wednesday, January 10th. Royal Bank of Canada reaffirmed a “buy” rating and set a $180.00 price objective on shares of IBM in a report on Friday, January 19th. JPMorgan Chase set a $167.00 price objective on shares of IBM and gave the stock a “neutral” rating in a report on Friday, January 19th. Finally, Bank of America reaffirmed a “buy” rating and set a $200.00 price objective on shares of IBM in a report on Monday, March 26th. 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. IBM has an average rating of “Hold” and a consensus target price of $166.01.

Shares of IBM stock opened at $157.89 on Tuesday. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.33 and a quick ratio of 1.29. The company has a market capitalization of $144,356.22, a P/E ratio of 11.44, a P/E/G ratio of 2.29 and a beta of 0.90. IBM has a fifty-two week low of $139.13 and a fifty-two week high of $171.69.

IBM (NYSE:IBM) last issued its quarterly earnings results on Thursday, January 18th. The technology company reported $5.18 earnings per share for the quarter, beating analysts’ consensus estimates 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. IBM had a net margin of 7.27% and a return on equity of 69.48%. IBM’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $5.01 earnings per share. equities analysts predict that IBM will post 13.83 earnings per share for the current fiscal year.

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About IBM

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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