IBM (IBM) Position Reduced by BB&T Corp

BB&T Corp lessened its holdings in IBM (NYSE:IBM) by 5.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 48,549 shares of the technology company’s stock after selling 2,937 shares during the quarter. BB&T Corp’s holdings in IBM were worth $7,341,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Coastline Trust Co increased its holdings in IBM by 14.7% in the second quarter. Coastline Trust Co now owns 19,353 shares of the technology company’s stock valued at $2,704,000 after buying an additional 2,475 shares during the last quarter. Berkshire Asset Management LLC PA increased its holdings in IBM by 2.4% in the third quarter. Berkshire Asset Management LLC PA now owns 20,690 shares of the technology company’s stock valued at $3,129,000 after buying an additional 481 shares during the last quarter. Argus Investors Counsel Inc. increased its holdings in IBM by 18.8% in the second quarter. Argus Investors Counsel Inc. now owns 27,425 shares of the technology company’s stock valued at $3,831,000 after buying an additional 4,349 shares during the last quarter. Viking Fund Management LLC boosted its stake in IBM by 3.8% in the third quarter. Viking Fund Management LLC now owns 27,000 shares of the technology company’s stock valued at $4,083,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Grassi Investment Management boosted its stake in IBM by 2.0% in the second quarter. Grassi Investment Management now owns 49,795 shares of the technology company’s stock valued at $6,956,000 after acquiring an additional 965 shares in the last quarter. 55.39% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Diane J. Gherson sold 11,451 shares of the stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $145.42, for a total transaction of $1,665,204.42. Following the completion of the sale, the insider now owns 19,114 shares in the company, valued at $2,779,557.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.17% of the stock is currently owned by corporate insiders.

Several equities analysts have issued reports on the stock. Argus downgraded shares of IBM from a “buy” rating to a “hold” rating in a research note on Thursday. Zacks Investment Research upgraded shares of IBM from a “sell” rating to a “hold” rating in a research note on Thursday. Wedbush restated a “neutral” rating and issued a $165.00 price objective (down previously from $185.00) on shares of IBM in a research note on Thursday. ValuEngine upgraded shares of IBM from a “sell” rating to a “hold” rating in a research note on Thursday, July 19th. Finally, Stifel Nicolaus decreased their price objective on shares of IBM from $182.00 to $178.00 and set a “buy” rating for the company in a research note on Thursday, July 19th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $167.39.

Shares of IBM opened at $130.55 on Friday. IBM has a fifty-two week low of $130.04 and a fifty-two week high of $171.13. The stock has a market cap of $138.02 billion, a PE ratio of 9.45, a price-to-earnings-growth ratio of 2.20 and a beta of 0.87. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.32 and a quick ratio of 1.27.

IBM (NYSE:IBM) last announced its earnings results on Tuesday, October 16th. The technology company reported $3.42 earnings per share for the quarter, topping the consensus estimate of $3.40 by $0.02. IBM had a net margin of 7.13% and a return on equity of 69.84%. The business had revenue of $18.76 billion during the quarter, compared to the consensus estimate of $19.04 billion. During the same quarter in the prior year, the firm earned $3.30 earnings per share. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. On average, sell-side analysts anticipate that IBM will post 13.82 EPS for the current year.

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.

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Institutional Ownership by Quarter for IBM (NYSE:IBM)

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