IBM (IBM) Shares Bought by Essex Financial Services Inc.

Essex Financial Services Inc. raised its holdings in shares of IBM (NYSE:IBM) by 2.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,794 shares of the technology company’s stock after acquiring an additional 705 shares during the quarter. IBM makes up 0.9% of Essex Financial Services Inc.’s investment portfolio, making the stock its 29th largest holding. Essex Financial Services Inc.’s holdings in IBM were worth $3,804,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Hugh Johnson Advisors LLC grew its stake in IBM by 0.9% during the 2nd quarter. Hugh Johnson Advisors LLC now owns 1,403 shares of the technology company’s stock valued at $216,000 after acquiring an additional 12 shares in the last quarter. Rench Wealth Management Inc. grew its stake in IBM by 1.0% during the 2nd quarter. Rench Wealth Management Inc. now owns 1,486 shares of the technology company’s stock valued at $229,000 after acquiring an additional 14 shares in the last quarter. Altavista Wealth Management Inc. grew its stake in IBM by 0.7% during the 2nd quarter. Altavista Wealth Management Inc. now owns 2,193 shares of the technology company’s stock valued at $337,000 after acquiring an additional 15 shares in the last quarter. Marco Investment Management LLC grew its stake in IBM by 0.3% during the 2nd quarter. Marco Investment Management LLC now owns 15,049 shares of the technology company’s stock valued at $2,315,000 after acquiring an additional 40 shares in the last quarter. Finally, Day & Ennis LLC grew its stake in IBM by 0.5% during the 2nd quarter. Day & Ennis LLC now owns 9,326 shares of the technology company’s stock valued at $1,435,000 after acquiring an additional 43 shares in the last quarter. 57.02% of the stock is currently owned by institutional investors.

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In other IBM news, Director Frederick H. Waddell purchased 610 shares of the business’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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Diane J. Gherson sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $156.00, for a total value of $780,000.00. Following the transaction, the insider now owns 20,581 shares of the company’s stock, valued at $3,210,636. The disclosure for this sale can be found here. 0.17% of the stock is owned by insiders.

Several equities analysts have weighed in on IBM shares. Royal Bank of Canada reaffirmed a “buy” rating and set a $180.00 target price on shares of IBM in a research note on Friday, January 19th. Bank of America reissued a “buy” rating and issued a $200.00 price target on shares of IBM in a research note on Friday, January 19th. Vetr cut IBM from a “strong-buy” rating to a “buy” rating and set a $173.45 price target for the company. in a research note on Tuesday, December 12th. Pivotal Research set a $180.00 price target on IBM and gave the company a “buy” rating in a research note on Thursday, January 18th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $175.00 price target on shares of IBM in a research note on Thursday, January 11th. They noted that the move was a valuation call. Six equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $166.01.

IBM opened at $153.43 on Monday. IBM has a twelve month low of $139.13 and a twelve month high of $176.33. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.33 and a quick ratio of 1.29. The company has a market capitalization of $141,334.80, a P/E ratio of 11.12, a P/E/G ratio of 2.24 and a beta of 0.94.

IBM (NYSE:IBM) last posted its earnings results on Thursday, January 18th. The technology company reported $5.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $5.17 by $0.01. IBM had a return on equity of 69.48% and a net margin of 7.27%. The firm had revenue of $22.54 billion during the quarter, compared to analyst estimates of $22.03 billion. During the same period in the previous year, the company earned $5.01 EPS. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. equities analysts expect that IBM will post 13.82 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 10th. Stockholders of record on Friday, February 9th were issued a dividend of $1.50 per share. The ex-dividend date was Thursday, February 8th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.91%. IBM’s dividend payout ratio (DPR) is presently 43.48%.

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About IBM

International Business Machines Corporation operates as an integrated technology and services company worldwide. Its Cognitive Solutions segment offers Watson, a cognitive computing platform that interacts in natural language, processes big data, and learns from interactions with people and computers.

Institutional Ownership by Quarter for IBM (NYSE:IBM)

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