Trading Report: Today, Independent Portfolio Consultants Inc. Buys 300 Shares of International Business Machines Corp. (IBM)

Today, Independent Portfolio Consultants Inc. Buys 300 Shares of International Business Machines Corp. (IBM)

Independent Portfolio Consultants Inc. raised its position in International Business Machines Corp. (NYSE:IBM) by 3.8% during the third quarter, Holdings Channel reports. The fund owned 8,182 shares of the technology company’s stock after buying an additional 300 shares during the period. Independent Portfolio Consultants Inc.’s holdings in International Business Machines Corp. were worth $1,300,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Jackson Grant Investment Advisers Inc. raised its position in International Business Machines Corp. by 0.7% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 726 shares of the technology company’s stock valued at $110,000 after buying an additional 5 shares during the last quarter. Round Table Services LLC raised its position in International Business Machines Corp. by 0.4% in the second quarter. Round Table Services LLC now owns 1,620 shares of the technology company’s stock valued at $246,000 after buying an additional 6 shares during the last quarter. Nadler Financial Group Inc. raised its position in International Business Machines Corp. by 0.4% in the second quarter. Nadler Financial Group Inc. now owns 2,243 shares of the technology company’s stock valued at $340,000 after buying an additional 8 shares during the last quarter. Financial & Investment Management Group Ltd. raised its position in International Business Machines Corp. by 0.7% in the second quarter. Financial & Investment Management Group Ltd. now owns 1,921 shares of the technology company’s stock valued at $292,000 after buying an additional 14 shares during the last quarter. Finally, Rench Wealth Management Inc. raised its position in International Business Machines Corp. by 1.0% in the second quarter. Rench Wealth Management Inc. now owns 1,436 shares of the technology company’s stock valued at $218,000 after buying an additional 14 shares during the last quarter. Hedge funds and other institutional investors own 58.49% of the company’s stock.

International Business Machines Corp. (NYSE:IBM) traded up 0.72% during mid-day trading on Friday, hitting $163.14. 1,605,344 shares of the stock traded hands. The firm has a market cap of $155.12 billion, a price-to-earnings ratio of 13.29 and a beta of 0.94. International Business Machines Corp. has a 1-year low of $116.90 and a 1-year high of $165.00. The stock has a 50-day moving average of $155.55 and a 200 day moving average of $155.73.

International Business Machines Corp. (NYSE:IBM) last issued its quarterly earnings results on Monday, October 17th. The technology company reported $3.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.24 by $0.05. The business earned $19.23 billion during the quarter, compared to analyst estimates of $19 billion. International Business Machines Corp. had a net margin of 14.75% and a return on equity of 82.86%. The business’s revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.34 earnings per share. On average, equities analysts expect that International Business Machines Corp. will post $13.50 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, December 10th. Investors of record on Thursday, November 10th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.43%. International Business Machines Corp.’s dividend payout ratio (DPR) is presently 45.64%.

Several equities analysts have weighed in on IBM shares. Cantor Fitzgerald reiterated a “hold” rating on shares of International Business Machines Corp. in a report on Monday, August 8th. Drexel Hamilton reiterated a “buy” rating and issued a $186.00 target price on shares of International Business Machines Corp. in a report on Monday, August 15th. Oppenheimer Holdings Inc. started coverage on shares of International Business Machines Corp. in a report on Monday, August 15th. They issued a “market perform” rating on the stock. Vetr upgraded shares of International Business Machines Corp. from a “sell” rating to a “hold” rating and set a $156.55 target price on the stock in a report on Monday, August 29th. Finally, Barclays PLC reiterated an “underweight” rating on shares of International Business Machines Corp. in a report on Tuesday, August 30th. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company’s stock. International Business Machines Corp. has a consensus rating of “Hold” and a consensus target price of $156.04.

In related news, insider Robert J. Picciano sold 1,922 shares of International Business Machines Corp. stock in a transaction on Wednesday, August 31st. The shares were sold at an average price of $159.16, for a total value of $305,905.52. Following the completion of the sale, the insider now owns 35,861 shares in the company, valued at $5,707,636.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David N. Farr purchased 1,300 shares of the company’s stock in a transaction that occurred on Tuesday, October 25th. The stock was bought at an average price of $149.93 per share, with a total value of $194,909.00. Following the purchase, the director now owns 3,758 shares of the company’s stock, valued at approximately $563,436.94. The disclosure for this purchase can be found here. 0.08% of the stock is currently owned by corporate insiders.

International Business Machines Corp. Company Profile

International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Global Technology Services (GTS), Global Business Services (GBS), Software, Systems Hardware and Global Financing. The Company’s GTS segment offers services, including strategic outsourcing, integrated technology services, cloud and technology support services (maintenance services).

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