Walter & Keenan Financial Consulting Co. MI ADV Purchases 2,355 Shares of International Business Machines Corp. (IBM)
Walter & Keenan Financial Consulting Co. MI ADV raised its position in International Business Machines Corp. (NYSE:IBM) by 36.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,855 shares of the technology company’s stock after purchasing an additional 2,355 shares during the quarter. Walter & Keenan Financial Consulting Co. MI ADV’s holdings in International Business Machines were worth $1,359,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Herndon Capital Management LLC grew its holdings in shares of International Business Machines by 39.0% in the 2nd quarter. Herndon Capital Management LLC now owns 695 shares of the technology company’s stock valued at $107,000 after acquiring an additional 195 shares in the last quarter. ETF Managers Group LLC bought a new position in shares of International Business Machines in the 2nd quarter valued at about $121,000. Cerebellum GP LLC bought a new position in shares of International Business Machines in the 4th quarter valued at about $126,000. Horan Capital Advisors LLC. bought a new position in shares of International Business Machines in the 3rd quarter valued at about $136,000. Finally, Peddock Capital Advisors LLC grew its holdings in shares of International Business Machines by 7.3% in the 2nd quarter. Peddock Capital Advisors LLC now owns 912 shares of the technology company’s stock valued at $140,000 after acquiring an additional 62 shares in the last quarter. 58.78% of the stock is currently owned by hedge funds and other institutional investors.
Shares of International Business Machines Corp. (NYSE IBM) opened at $154.49 on Friday. International Business Machines Corp. has a 1-year low of $139.13 and a 1-year high of $181.32. The stock has a market capitalization of $142,311.25, a P/E ratio of 25.28, a PEG ratio of 2.26 and a beta of 0.94. The company has a current ratio of 1.33, a quick ratio of 1.29 and a debt-to-equity ratio of 2.25.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 10th. Stockholders of record on Friday, February 9th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date of this dividend is Thursday, February 8th. International Business Machines’s dividend payout ratio is presently 98.20%.
In other International Business Machines news, Director Frederick H. Waddell purchased 610 shares of the company’s stock in a transaction dated Wednesday, January 31st. The stock was bought at an average cost of $163.38 per share, for a total transaction of $99,661.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Erich Clementi sold 13,000 shares of International Business Machines stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $154.66, for a total transaction of $2,010,580.00. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.
IBM has been the subject of several analyst reports. Morgan Stanley cut International Business Machines from an “equal weight” rating to an “underweight” rating and raised their price objective for the company from $200.00 to $205.00 in a report on Tuesday, January 23rd. Societe Generale set a $149.00 price objective on International Business Machines and gave the company a “sell” rating in a report on Friday, January 19th. Vetr upgraded International Business Machines from a “buy” rating to a “strong-buy” rating and set a $173.45 price objective for the company in a report on Wednesday, December 6th. BMO Capital Markets restated a “hold” rating and issued a $175.00 price objective on shares of International Business Machines in a report on Thursday, January 11th. They noted that the move was a valuation call. Finally, Barclays upgraded International Business Machines from an “underweight” rating to an “overweight” rating and raised their price objective for the company from $133.00 to $192.00 in a report on Wednesday, January 17th. Seven research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $164.37.
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.
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