Wells Trecaso Financial Group LLC Has $7.38 Million Stock Position in International Business Machines Corporation $IBM

Wells Trecaso Financial Group LLC cut its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 42.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,167 shares of the technology company’s stock after selling 19,267 shares during the quarter. International Business Machines makes up 3.5% of Wells Trecaso Financial Group LLC’s investment portfolio, making the stock its 9th largest holding. Wells Trecaso Financial Group LLC’s holdings in International Business Machines were worth $7,383,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in IBM. Vanguard Group Inc. lifted its position in shares of International Business Machines by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 95,051,475 shares of the technology company’s stock valued at $28,019,274,000 after buying an additional 1,913,708 shares during the last quarter. State Street Corp increased its holdings in International Business Machines by 0.3% in the 2nd quarter. State Street Corp now owns 54,536,963 shares of the technology company’s stock worth $16,076,406,000 after acquiring an additional 147,721 shares during the last quarter. Geode Capital Management LLC raised its stake in International Business Machines by 1.9% in the 2nd quarter. Geode Capital Management LLC now owns 21,936,235 shares of the technology company’s stock valued at $6,444,527,000 after acquiring an additional 400,131 shares during the period. Legal & General Group Plc lifted its holdings in International Business Machines by 3.4% during the second quarter. Legal & General Group Plc now owns 7,126,503 shares of the technology company’s stock valued at $2,100,751,000 after purchasing an additional 234,318 shares during the last quarter. Finally, Norges Bank bought a new position in International Business Machines during the second quarter worth about $2,011,122,000. 58.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other International Business Machines news, Director David N. Farr bought 1,000 shares of International Business Machines stock in a transaction on Friday, January 30th. The stock was acquired at an average price of $304.00 per share, with a total value of $304,000.00. Following the acquisition, the director owned 9,258 shares in the company, valued at approximately $2,814,432. This trade represents a 12.11% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.

International Business Machines Price Performance

IBM opened at $292.97 on Friday. International Business Machines Corporation has a 12-month low of $214.50 and a 12-month high of $324.90. The stock has a fifty day simple moving average of $302.29 and a two-hundred day simple moving average of $283.53. The company has a market cap of $273.85 billion, a price-to-earnings ratio of 26.22, a price-to-earnings-growth ratio of 2.90 and a beta of 0.69. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 1.67.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, January 28th. The technology company reported $4.52 EPS for the quarter, topping analysts’ consensus estimates of $4.33 by $0.19. The firm had revenue of $19.69 billion for the quarter, compared to analysts’ expectations of $19.23 billion. International Business Machines had a return on equity of 38.15% and a net margin of 15.69%.The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.92 EPS. Research analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 10th will be given a $1.68 dividend. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $6.72 annualized dividend and a yield of 2.3%. International Business Machines’s dividend payout ratio is 60.27%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Friday, December 5th. Stifel Nicolaus upped their price target on International Business Machines from $325.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. Oppenheimer set a $380.00 target price on International Business Machines and gave the stock an “outperform” rating in a research note on Thursday, January 29th. Sanford C. Bernstein reiterated a “market perform” rating on shares of International Business Machines in a research report on Wednesday, December 10th. Finally, Bank of America lifted their target price on shares of International Business Machines from $315.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $330.07.

International Business Machines Profile

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.