International Business Machines Corp. (IBM) Stake Lowered by Investment Counsel Inc.
Investment Counsel Inc. cut its stake in International Business Machines Corp. (NYSE:IBM) by 5.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,938 shares of the technology company’s stock after selling 700 shares during the period. International Business Machines comprises approximately 1.6% of Investment Counsel Inc.’s portfolio, making the stock its 29th largest position. Investment Counsel Inc.’s holdings in International Business Machines were worth $1,985,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in IBM. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in International Business Machines by 27.6% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 203,171 shares of the technology company’s stock worth $31,254,000 after acquiring an additional 43,915 shares in the last quarter. OLD Dominion Capital Management Inc. boosted its position in International Business Machines by 7.5% during the second quarter. OLD Dominion Capital Management Inc. now owns 4,034 shares of the technology company’s stock valued at $621,000 after buying an additional 281 shares during the period. First Trust Advisors LP boosted its position in International Business Machines by 12.3% during the second quarter. First Trust Advisors LP now owns 1,243,485 shares of the technology company’s stock valued at $191,285,000 after buying an additional 135,924 shares during the period. Biltmore Wealth Management LLC boosted its position in International Business Machines by 2.4% during the second quarter. Biltmore Wealth Management LLC now owns 5,557 shares of the technology company’s stock valued at $855,000 after buying an additional 132 shares during the period. Finally, Traynor Capital Management Inc. boosted its position in International Business Machines by 1.6% during the second quarter. Traynor Capital Management Inc. now owns 2,011 shares of the technology company’s stock valued at $292,000 after buying an additional 31 shares during the period. Institutional investors own 58.78% of the company’s stock.
In related news, Director Frederick H. Waddell purchased 610 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was bought at an average cost of $163.38 per share, with a total value of $99,661.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is owned by corporate insiders.
International Business Machines Corp. (NYSE:IBM) opened at $155.16 on Wednesday. International Business Machines Corp. has a one year low of $139.13 and a one year high of $182.55. The stock has a market cap of $144,590.09, a PE ratio of 11.29, a P/E/G ratio of 2.28 and a beta of 0.94. The company has a quick ratio of 1.29, a current ratio of 1.33 and a debt-to-equity ratio of 2.25.
International Business Machines (NYSE:IBM) last released its quarterly earnings results on Thursday, January 18th. The technology company reported $5.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.17 by $0.01. International Business Machines had a net margin of 7.27% and a return on equity of 69.48%. The company had revenue of $22.54 billion during the quarter, compared to the consensus estimate of $22.03 billion. During the same period in the prior year, the firm earned $5.01 earnings per share. International Business Machines’s revenue was up 3.6% on a year-over-year basis. analysts anticipate that International Business Machines Corp. will post 13.82 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, March 10th. Investors of record on Friday, February 9th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date is Thursday, February 8th. International Business Machines’s payout ratio is currently 98.20%.
TRADEMARK VIOLATION WARNING: “International Business Machines Corp. (IBM) Stake Lowered by Investment Counsel Inc.” was first published by Daily Political and is the sole property of of Daily Political. If you are reading this news story on another publication, it was copied illegally and reposted in violation of United States & international copyright and trademark laws. The legal version of this news story can be viewed at https://www.dailypolitical.com/2018/02/21/international-business-machines-corp-ibm-stake-lowered-by-investment-counsel-inc.html.
About International Business Machines
International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.
Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Corp. (NYSE:IBM).
Receive News & Ratings for International Business Machines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Business Machines and related companies with MarketBeat.com's FREE daily email newsletter.