OLD National Bancorp IN Acquires 1,664 Shares of International Business Machines Corporation $IBM

by · The Markets Daily

OLD National Bancorp IN grew its stake in International Business Machines Corporation (NYSE:IBM – Free Report) by 4.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,467 shares of the technology company’s stock after buying an additional 1,664 shares during the quarter. OLD National Bancorp IN’s holdings in International Business Machines were worth $11,136,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of IBM. Brighton Jones LLC grew its holdings in International Business Machines by 12.4% during the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock valued at $4,619,000 after buying an additional 2,323 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in International Business Machines by 4.6% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 94,774 shares of the technology company’s stock worth $23,566,000 after purchasing an additional 4,154 shares in the last quarter. Brooks Moore & Associates Inc. grew its position in shares of International Business Machines by 0.9% during the first quarter. Brooks Moore & Associates Inc. now owns 11,182 shares of the technology company’s stock valued at $2,781,000 after purchasing an additional 102 shares in the last quarter. NCM Capital Management LLC increased its holdings in shares of International Business Machines by 2.0% in the first quarter. NCM Capital Management LLC now owns 5,920 shares of the technology company’s stock worth $1,472,000 after purchasing an additional 114 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in International Business Machines by 38.3% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 330,222 shares of the technology company’s stock valued at $82,113,000 after buying an additional 91,468 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

International Business Machines stock opened at $302.97 on Tuesday. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.93 and a quick ratio of 0.89. The firm has a market capitalization of $283.20 billion, a P/E ratio of 36.24, a price-to-earnings-growth ratio of 3.00 and a beta of 0.69. International Business Machines Corporation has a 1-year low of $214.50 and a 1-year high of $324.90. The company’s 50-day moving average is $301.54 and its 200 day moving average is $280.02.

International Business Machines (NYSE:IBM – Get Free Report) last announced its quarterly earnings data on Wednesday, October 22nd. The technology company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.20. The company had revenue of $16.33 billion for the quarter, compared to analysts’ expectations of $16.10 billion. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.International Business Machines’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.30 earnings per share. Research analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th were paid a dividend of $1.68 per share. The ex-dividend date was Monday, November 10th. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.2%. International Business Machines’s dividend payout ratio (DPR) is currently 80.38%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on IBM. BMO Capital Markets increased their target price on International Business Machines from $300.00 to $305.00 and gave the company a “market perform” rating in a research report on Thursday, October 23rd. Bank of America increased their price objective on shares of International Business Machines from $310.00 to $315.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. UBS Group restated a “sell” rating on shares of International Business Machines in a research report on Tuesday, December 9th. Jefferies Financial Group lifted their price target on International Business Machines from $280.00 to $305.00 and gave the stock a “hold” rating in a research report on Tuesday, October 21st. Finally, Stifel Nicolaus upped their price objective on International Business Machines from $295.00 to $325.00 and gave the company a “buy” rating in a research report on Tuesday, December 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $293.38.

Read Our Latest Research Report on International Business Machines

International Business Machines Profile

(Free Report)

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.

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