Trade Report: Today, Rockland Trust Co. invests in International Business Machines Corp. (IBM) Shares

Today, Rockland Trust Co. invests in International Business Machines Corp. (IBM) Shares

Rockland Trust Co. raised its stake in shares of International Business Machines Corp. (NYSE:IBM) by 6.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,204 shares of the technology company’s stock after buying an additional 1,224 shares during the period. Rockland Trust Co.’s holdings in International Business Machines Corp. were worth $3,051,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. 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 period. 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 worth $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 worth $340,000 after buying an additional 8 shares during the last quarter. Alpha Windward LLC raised its position in International Business Machines Corp. by 0.7% in the third quarter. Alpha Windward LLC now owns 1,333 shares of the technology company’s stock worth $212,000 after buying an additional 9 shares during the last quarter. Finally, Ausdal Financial Partners Inc. raised its position in International Business Machines Corp. by 0.3% in the third quarter. Ausdal Financial Partners Inc. now owns 4,108 shares of the technology company’s stock worth $653,000 after buying an additional 12 shares during the last quarter. 57.23% of the stock is owned by institutional investors and hedge funds.

International Business Machines Corp. (NYSE:IBM) traded up 0.85% during mid-day trading on Monday, reaching $164.52. 4,449,355 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $155.81 and a 200-day moving average price of $155.94. International Business Machines Corp. has a 1-year low of $116.90 and a 1-year high of $165.00. The stock has a market cap of $156.43 billion, a P/E ratio of 13.41 and a beta of 0.94.

International Business Machines Corp. (NYSE:IBM) last issued its earnings results on Monday, October 17th. The technology company reported $3.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.24 by $0.05. The company had revenue of $19.23 billion for 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 company’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the firm earned $3.34 EPS. Equities research analysts anticipate that International Business Machines Corp. will post $13.50 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 10th. Investors of record on Thursday, November 10th will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 3.40%. The ex-dividend date is Tuesday, November 8th. International Business Machines Corp.’s payout ratio is 45.64%.

A number of research analysts have issued reports on IBM shares. Vetr raised shares of International Business Machines Corp. from a “sell” rating to a “hold” rating and set a $156.55 target price for the company in a research note on Monday, August 29th. Cantor Fitzgerald reissued a “hold” rating and set a $162.00 target price on shares of International Business Machines Corp. in a research note on Monday, September 12th. Bank of America Corp. set a $185.00 target price on shares of International Business Machines Corp. and gave the company a “buy” rating in a research note on Monday, November 21st. Drexel Hamilton reissued a “buy” rating and set a $186.00 target price on shares of International Business Machines Corp. in a research note on Tuesday, October 18th. Finally, Societe Generale raised shares of International Business Machines Corp. from a “sell” rating to a “hold” rating in a research note on Monday, September 26th. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the company’s stock. International Business Machines Corp. currently has an average rating of “Hold” and an average target price of $156.04.

In related news, insider Kralingen Bridget A. Van sold 330 shares of International Business Machines Corp. stock in a transaction that occurred on Thursday, October 20th. The shares were sold at an average price of $152.05, for a total transaction of $50,176.50. Following the transaction, the insider now owns 6,977 shares of the company’s stock, valued at approximately $1,060,852.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David N. Farr acquired 1,300 shares of International Business Machines Corp. stock in a transaction that occurred on Tuesday, October 25th. The shares were purchased at an average cost of $149.93 per share, for a total transaction of $194,909.00. Following the purchase, the director now directly owns 3,758 shares in the company, valued at $563,436.94. The disclosure for this purchase 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).

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