Trade Report: The International Business Machines Corp. (IBM) Position Held by Shelter Mutual Insurance Co

The International Business Machines Corp. (IBM) Position Held by Shelter Mutual Insurance Co

Shelter Mutual Insurance Co maintained its stake in International Business Machines Corp. (NYSE:IBM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 72,300 shares of the technology company’s stock at the end of the second quarter. International Business Machines Corp. comprises about 3.3% of Shelter Mutual Insurance Co’s portfolio, making the stock its 10th largest position. Shelter Mutual Insurance Co’s holdings in International Business Machines Corp. were worth $10,974,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in IBM. Commonwealth Equity Services Inc raised its position in shares of International Business Machines Corp. by 4.2% in the first quarter. Commonwealth Equity Services Inc now owns 361,213 shares of the technology company’s stock worth $54,706,000 after buying an additional 14,509 shares during the period. Mn Services Vermogensbeheer B.V. bought a new position in shares of International Business Machines Corp. during the first quarter worth $3,070,000. Buffington Mohr McNeal raised its position in shares of International Business Machines Corp. by 75.8% in the first quarter. Buffington Mohr McNeal now owns 4,059 shares of the technology company’s stock worth $614,000 after buying an additional 1,750 shares during the period. Virginia Retirement System bought a new position in shares of International Business Machines Corp. during the first quarter worth $33,629,000. Finally, Tiemann Investment Advisors LLC raised its position in shares of International Business Machines Corp. by 9.1% in the first quarter. Tiemann Investment Advisors LLC now owns 7,102 shares of the technology company’s stock worth $1,076,000 after buying an additional 591 shares during the period. 57.63% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Corp. (NYSE:IBM) traded up 0.21% during mid-day trading on Monday, reaching $154.77. 5,890,421 shares of the company traded hands. The stock’s 50-day moving average price is $156.75 and its 200-day moving average price is $154.35. International Business Machines Corp. has a one year low of $116.90 and a one year high of $165.00. The firm has a market cap of $147.94 billion, a PE ratio of 12.59 and a beta of 0.88.

International Business Machines Corp. (NYSE:IBM) last announced its 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 analysts’ expectations of $19 billion. International Business Machines Corp. had a net margin of 14.86% and a return on equity of 88.92%. The firm’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the company posted $3.34 EPS. Analysts forecast that International Business Machines Corp. will post $13.51 earnings per share for the current fiscal year.

IBM has been the topic of several recent research reports. Zacks Investment Research lowered shares of International Business Machines Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, June 21st. JMP Securities restated a “buy” rating and set a $157.00 target price on shares of International Business Machines Corp. in a report on Thursday, June 23rd. Credit Suisse Group AG restated a “sell” rating and set a $110.00 target price on shares of International Business Machines Corp. in a report on Thursday, June 23rd. Vetr upgraded shares of International Business Machines Corp. from a “hold” rating to a “buy” rating and set a $153.81 target price on the stock in a report on Monday, June 27th. Finally, Morgan Stanley restated an “overweight” rating on shares of International Business Machines Corp. in a report on Wednesday, June 29th. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $154.47.

In related news, insider John E. Kelly III sold 6,698 shares of the stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $160.89, for a total transaction of $1,077,641.22. Following the completion of the sale, the insider now owns 33,576 shares in the company, valued at approximately $5,402,042.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert J. Picciano sold 1,922 shares of the stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $159.16, for a total transaction of $305,905.52. Following the sale, the insider now owns 35,861 shares of the company’s stock, valued at approximately $5,707,636.76. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

About International Business Machines Corp.

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).

Related posts

Leave a Comment