International Business Machines Co. (NYSE:IBM) is Gilman Hill Asset Management LLC’s 9th Largest Position

Gilman Hill Asset Management LLC raised its position in International Business Machines Co. (NYSE:IBM) by 4.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 45,538 shares of the technology company’s stock after buying an additional 2,047 shares during the period. International Business Machines accounts for 2.1% of Gilman Hill Asset Management LLC’s investment portfolio, making the stock its 9th biggest holding. Gilman Hill Asset Management LLC’s holdings in International Business Machines were worth $5,541,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of International Business Machines by 24.5% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 208,892 shares of the technology company’s stock worth $25,228,000 after purchasing an additional 41,040 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of International Business Machines by 3.2% during the 2nd quarter. Bessemer Group Inc. now owns 985,759 shares of the technology company’s stock worth $119,048,000 after purchasing an additional 30,225 shares during the last quarter. John G Ullman & Associates Inc. increased its stake in shares of International Business Machines by 26.7% during the 2nd quarter. John G Ullman & Associates Inc. now owns 90,480 shares of the technology company’s stock worth $10,927,000 after purchasing an additional 19,075 shares during the last quarter. Fort Washington Investment Advisors Inc. OH grew its stake in International Business Machines by 2.5% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 726,451 shares of the technology company’s stock valued at $87,733,000 after buying an additional 17,929 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its stake in International Business Machines by 908.5% in the 1st quarter. Loomis Sayles & Co. L P now owns 13,504 shares of the technology company’s stock valued at $1,498,000 after buying an additional 12,165 shares in the last quarter. Hedge funds and other institutional investors own 56.11% of the company’s stock.

In other International Business Machines news, SVP Diane J. Gherson sold 1,176 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $126.73, for a total value of $149,034.48. Following the transaction, the senior vice president now owns 31,767 shares in the company, valued at $4,025,831.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Diane J. Gherson sold 1,215 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $127.00, for a total transaction of $154,305.00. Following the completion of the transaction, the senior vice president now owns 30,597 shares in the company, valued at approximately $3,885,819. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

A number of research analysts recently weighed in on IBM shares. JPMorgan Chase & Co. lifted their price objective on shares of International Business Machines from $135.00 to $148.00 and gave the company a “neutral” rating in a research note on Monday, August 17th. Bank of America reiterated a “buy” rating and issued a $145.00 price objective on shares of International Business Machines in a research note on Monday, July 20th. Wedbush reiterated a “neutral” rating on shares of International Business Machines in a research note on Thursday, July 16th. Credit Suisse Group lifted their price objective on shares of International Business Machines from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Tuesday, July 21st. Finally, Morgan Stanley lifted their price objective on shares of International Business Machines from $128.00 to $140.00 and gave the company an “equal weight” rating in a research note on Friday, October 9th. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $139.88.

International Business Machines stock opened at $125.93 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.68. The company has a market capitalization of $112.15 billion, a PE ratio of 14.29, a P/E/G ratio of 3.51 and a beta of 1.16. The firm has a fifty day simple moving average of $122.93 and a two-hundred day simple moving average of $122.15. International Business Machines Co. has a twelve month low of $90.56 and a twelve month high of $158.75.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Monday, July 20th. The technology company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.04. The business had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.72 billion. International Business Machines had a net margin of 10.44% and a return on equity of 51.06%. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $3.17 earnings per share. As a group, equities analysts expect that International Business Machines Co. will post 11.06 earnings per share for the current fiscal year.

International Business Machines Profile

International Business Machines Corporation operates as an integrated solutions and services company worldwide. Its Cloud & Cognitive Software segment offers software for vertical and domain-specific solutions in health, financial services, and Internet of Things (IoT), weather, and security software and services application areas; and customer information control system and storage, and analytics and integration software solutions to support client mission critical on-premise workloads in banking, airline, and retail industries.

Further Reading: Support Level

Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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