Trading Report: The International Business Machines Corp. (IBM) Stake Boosted by First National Trust Co.

The International Business Machines Corp. (IBM) Stake Boosted by First National Trust Co.

First National Trust Co. boosted its stake in shares of International Business Machines Corp. (NYSE:IBM) by 3.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,075 shares of the technology company’s stock after buying an additional 1,055 shares during the period. First National Trust Co.’s holdings in International Business Machines Corp. were worth $4,261,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp increased its position in International Business Machines Corp. by 2.5% in the first quarter. State Street Corp now owns 50,852,184 shares of the technology company’s stock valued at $7,701,559,000 after buying an additional 1,230,826 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in International Business Machines Corp. by 0.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 23,262,068 shares of the technology company’s stock valued at $3,523,040,000 after buying an additional 62,326 shares during the last quarter. BlackRock Fund Advisors increased its position in International Business Machines Corp. by 10.0% in the first quarter. BlackRock Fund Advisors now owns 12,645,562 shares of the technology company’s stock valued at $1,915,170,000 after buying an additional 1,154,028 shares during the last quarter. BlackRock Group LTD increased its position in International Business Machines Corp. by 1.0% in the first quarter. BlackRock Group LTD now owns 7,444,327 shares of the technology company’s stock valued at $1,127,444,000 after buying an additional 74,181 shares during the last quarter. Finally, Legal & General Group Plc increased its position in International Business Machines Corp. by 2.2% in the first quarter. Legal & General Group Plc now owns 4,564,926 shares of the technology company’s stock valued at $691,352,000 after buying an additional 98,130 shares during the last quarter. 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 trading on Monday, hitting $154.77. The stock had a trading volume of 5,890,421 shares. The company has a market cap of $147.94 billion, a PE ratio of 12.59 and a beta of 0.88. International Business Machines Corp. has a 52 week low of $116.90 and a 52 week high of $165.00. The stock has a 50-day moving average price of $156.75 and a 200-day moving average price of $154.35.

International Business Machines Corp. (NYSE:IBM) last posted its earnings results on Monday, October 17th. The technology company reported $3.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.24 by $0.05. The firm had revenue of $19.23 billion for the quarter, compared to the consensus estimate of $19 billion. International Business Machines Corp. had a net margin of 14.86% and a return on equity of 88.92%. The business’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the prior year, the business posted $3.34 earnings per share. Equities analysts predict that International Business Machines Corp. will post $13.51 EPS for the current year.

Several research firms have weighed in on IBM. Vetr raised International Business Machines Corp. from a “sell” rating to a “hold” rating and set a $156.55 price target for the company in a research report on Monday, August 29th. Cantor Fitzgerald reissued a “hold” rating and set a $162.00 price target on shares of International Business Machines Corp. in a research report on Monday, September 12th. Societe Generale raised International Business Machines Corp. from a “sell” rating to a “hold” rating in a research report on Monday, September 26th. Cowen and Company reissued an “outperform” rating on shares of International Business Machines Corp. in a research report on Wednesday, July 20th. Finally, Credit Suisse Group AG reissued a “sell” rating and set a $110.00 price target on shares of International Business Machines Corp. in a research report on Thursday, June 23rd. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $154.47.

In other International Business Machines Corp. news, insider Erich Clementi sold 2,984 shares of the company’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $159.00, for a total transaction of $474,456.00. Following the completion of the sale, the insider now directly owns 22,531 shares in the company, valued at $3,582,429. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert J. Picciano sold 1,922 shares of the company’s stock in a transaction dated Wednesday, August 31st. The shares were 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 $5,707,636.76. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

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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