Norway Savings Bank Trims Position in International Business Machines Co. (NYSE:IBM)

Norway Savings Bank decreased its position in shares of International Business Machines Co. (NYSE:IBM) by 5.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 4,490 shares of the technology company’s stock after selling 240 shares during the period. Norway Savings Bank’s holdings in International Business Machines were worth $565,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its stake in shares of International Business Machines by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 11,628,307 shares of the technology company’s stock valued at $1,414,817,000 after buying an additional 394,178 shares during the period. Morgan Stanley increased its position in International Business Machines by 7.7% during the third quarter. Morgan Stanley now owns 9,261,401 shares of the technology company’s stock worth $1,126,834,000 after purchasing an additional 658,340 shares during the last quarter. Nuveen Asset Management LLC increased its position in International Business Machines by 5.9% during the third quarter. Nuveen Asset Management LLC now owns 4,017,950 shares of the technology company’s stock worth $488,864,000 after purchasing an additional 224,610 shares during the last quarter. LSV Asset Management increased its position in International Business Machines by 4.7% during the third quarter. LSV Asset Management now owns 3,298,009 shares of the technology company’s stock worth $401,268,000 after purchasing an additional 148,686 shares during the last quarter. Finally, First Trust Advisors LP increased its position in International Business Machines by 14.8% during the third quarter. First Trust Advisors LP now owns 2,991,072 shares of the technology company’s stock worth $363,924,000 after purchasing an additional 386,019 shares during the last quarter. 51.92% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director David N. Farr bought 1,500 shares of the firm’s stock in a transaction dated Thursday, October 29th. The stock was acquired at an average cost of $107.74 per share, for a total transaction of $161,610.00. Following the completion of the purchase, the director now owns 6,758 shares of the company’s stock, valued at $728,106.92. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Andrew N. Liveris bought 2,655 shares of the firm’s stock in a transaction dated Monday, November 2nd. The stock was purchased at an average price of $112.92 per share, with a total value of $299,802.60. The disclosure for this purchase can be found here. Insiders bought 13,387 shares of company stock valued at $1,513,946 over the last 90 days. Insiders own 0.24% of the company’s stock.

Shares of IBM stock traded down $2.29 on Wednesday, hitting $126.92. The stock had a trading volume of 6,210,867 shares, compared to its average volume of 5,673,650. The firm has a market capitalization of $113.09 billion, a price-to-earnings ratio of 14.37, a P/E/G ratio of 4.32 and a beta of 1.25. The stock’s 50 day moving average is $125.45 and its 200-day moving average is $122.28. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.00 and a current ratio of 1.05. International Business Machines Co. has a 52-week low of $90.56 and a 52-week high of $158.75.

International Business Machines (NYSE:IBM) last announced its earnings results on Monday, October 19th. The technology company reported $2.58 earnings per share for the quarter, meeting the consensus estimate of $2.58. The business had revenue of $17.56 billion during the quarter, compared to the consensus estimate of $17.56 billion. International Business Machines had a net margin of 10.53% and a return on equity of 48.69%. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.68 earnings per share. Equities analysts expect that International Business Machines Co. will post 8.78 earnings per share for the current year.

Several equities analysts recently commented on the stock. Zacks Investment Research lowered shares of International Business Machines from a “hold” rating to a “sell” rating and set a $124.00 price target for the company. in a research report on Wednesday, October 21st. Morgan Stanley upped their price target on shares of International Business Machines from $128.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Friday, October 9th. BMO Capital Markets dropped their price target on shares of International Business Machines from $140.00 to $138.00 and set a “market perform” rating for the company in a research report on Tuesday, October 20th. Finally, ValuEngine raised shares of International Business Machines from a “sell” rating to a “hold” rating in a research report on Monday, November 2nd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company. International Business Machines currently has an average rating of “Hold” and a consensus target price of $139.06.

International Business Machines Profile

International Business Machines Corporation provides integrated solutions and services 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.

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

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