Paloma Partners Management Co Raises Holdings in IBM (NYSE:IBM)

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Paloma Partners Management Co lifted its holdings in shares of IBM (NYSE:IBM) by 931.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,985 shares of the technology company’s stock after purchasing an additional 102,935 shares during the period. Paloma Partners Management Co’s holdings in IBM were worth $15,719,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Swedbank grew its stake in IBM by 10.7% in the 2nd quarter. Swedbank now owns 1,554,671 shares of the technology company’s stock worth $214,389,000 after acquiring an additional 150,472 shares during the period. Marshall Wace LLP purchased a new stake in IBM in the 1st quarter worth approximately $6,882,000. Atlantic Union Bankshares Corp grew its stake in IBM by 706.9% in the 2nd quarter. Atlantic Union Bankshares Corp now owns 35,641 shares of the technology company’s stock worth $4,915,000 after acquiring an additional 31,224 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in IBM by 15.0% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 217,102 shares of the technology company’s stock worth $29,938,000 after acquiring an additional 28,256 shares during the period. Finally, Amundi Pioneer Asset Management Inc. grew its stake in IBM by 1.1% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 2,500,954 shares of the technology company’s stock worth $352,883,000 after acquiring an additional 27,813 shares during the period. 55.35% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE IBM traded up $0.68 during trading on Thursday, hitting $142.90. 327,914 shares of the company traded hands, compared to its average volume of 3,097,795. IBM has a 1 year low of $105.94 and a 1 year high of $154.36. The company has a 50-day moving average price of $138.20 and a 200-day moving average price of $138.89. The firm has a market capitalization of $128.09 billion, a P/E ratio of 10.35, a P/E/G ratio of 2.23 and a beta of 1.31. The company has a quick ratio of 1.79, a current ratio of 1.83 and a debt-to-equity ratio of 3.51.

IBM (NYSE:IBM) last announced its quarterly earnings data on Wednesday, July 17th. The technology company reported $3.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.06 by $0.11. IBM had a net margin of 11.22% and a return on equity of 69.56%. The company had revenue of $19.20 billion during the quarter, compared to analysts’ expectations of $19.20 billion. During the same period in the previous year, the company earned $3.08 EPS. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. Research analysts predict that IBM will post 12.8 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $6.48 annualized dividend and a dividend yield of 4.53%. IBM’s dividend payout ratio is presently 46.92%.

Several analysts have commented on the stock. Bank of America lifted their target price on shares of IBM from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. ValuEngine raised shares of IBM from a “sell” rating to a “hold” rating in a research note on Wednesday, September 4th. KeyCorp reaffirmed a “hold” rating on shares of IBM in a research note on Monday, August 26th. Wells Fargo & Co lifted their target price on shares of IBM from $140.00 to $147.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 6th. Finally, Credit Suisse Group reaffirmed a “buy” rating and issued a $173.00 target price on shares of IBM in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $155.29.

About IBM

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.

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Institutional Ownership by Quarter for IBM (NYSE:IBM)

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