IBM (NYSE:IBM) Shares Sold by Hanson & Doremus Investment Management

Hanson & Doremus Investment Management lessened its holdings in shares of IBM (NYSE:IBM) by 14.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,048 shares of the technology company’s stock after selling 2,451 shares during the period. Hanson & Doremus Investment Management’s holdings in IBM were worth $2,017,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Paloma Partners Management Co boosted its position in IBM by 931.5% during the second quarter. Paloma Partners Management Co now owns 113,985 shares of the technology company’s stock worth $15,719,000 after purchasing an additional 102,935 shares in the last quarter. Comerica Bank grew its stake in IBM by 5.2% in the 3rd quarter. Comerica Bank now owns 308,135 shares of the technology company’s stock valued at $41,312,000 after acquiring an additional 15,154 shares during the last quarter. Baxter Bros Inc. acquired a new stake in IBM in the 4th quarter valued at about $2,303,000. Little House Capital LLC purchased a new position in IBM during the 3rd quarter valued at about $894,000. Finally, CapWealth Advisors LLC increased its holdings in IBM by 14.2% during the 3rd quarter. CapWealth Advisors LLC now owns 44,842 shares of the technology company’s stock valued at $6,521,000 after acquiring an additional 5,561 shares in the last quarter. 55.88% of the stock is currently owned by hedge funds and other institutional investors.

IBM traded up $1.24 during trading on Thursday, hitting $137.86. The company’s stock had a trading volume of 913,677 shares, compared to its average volume of 3,032,016. IBM has a twelve month low of $120.55 and a twelve month high of $152.95. The stock has a market cap of $120.29 billion, a PE ratio of 9.98, a PEG ratio of 2.06 and a beta of 1.33. The firm’s 50 day moving average price is $134.57 and its 200-day moving average price is $138.26. The company has a debt-to-equity ratio of 3.40, a current ratio of 1.09 and a quick ratio of 1.04.

IBM (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 16th. The technology company reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $0.01. The business had revenue of $18.03 billion for the quarter, compared to analysts’ expectations of $18.29 billion. IBM had a return on equity of 67.12% and a net margin of 10.00%. The business’s revenue was down 3.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.42 earnings per share. Equities analysts anticipate that IBM will post 12.8 earnings per share for the current year.

Several analysts have recently commented on IBM shares. Wedbush reiterated a “neutral” rating and issued a $155.00 price target (down from $165.00) on shares of IBM in a research report on Thursday, October 17th. Sanford C. Bernstein restated a “hold” rating and set a $135.00 price objective on shares of IBM in a research report on Wednesday. Stifel Nicolaus set a $169.00 target price on IBM and gave the company a “buy” rating in a research note on Tuesday, October 15th. BMO Capital Markets lowered their target price on IBM from $157.00 to $152.00 and set a “market perform” rating on the stock in a report on Thursday, October 17th. Finally, ValuEngine raised IBM from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $153.56.

IBM Company Profile

International Business Machines Corporation operates as an integrated technology and services company worldwide. Its Cognitive Solutions segment offers a portfolio of enterprise artificial intelligence platforms, such as analytics and data management platforms, cloud data services, talent management, and industry solutions primarily under the Watson Platform, Watson Health, and Watson Internet of Things names.

Read More: Price to Earnings Ratio (PE) Basics

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Institutional Ownership by Quarter for IBM (NYSE:IBM)

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