CHURCHILL MANAGEMENT Corp Lowers Stake in International Business Machines Co. (NYSE:IBM)


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CHURCHILL MANAGEMENT Corp lessened its stake in shares of International Business Machines Co. (NYSE:IBM) by 11.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,348 shares of the technology company’s stock after selling 7,445 shares during the quarter. CHURCHILL MANAGEMENT Corp’s holdings in International Business Machines were worth $7,597,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Simon Quick Advisors LLC lifted its stake in shares of International Business Machines by 67.9% during the 3rd quarter. Simon Quick Advisors LLC now owns 225 shares of the technology company’s stock worth $27,000 after purchasing an additional 91 shares during the last quarter. Moisand Fitzgerald Tamayo LLC lifted its position in shares of International Business Machines by 56.6% during the third quarter. Moisand Fitzgerald Tamayo LLC now owns 274 shares of the technology company’s stock valued at $33,000 after buying an additional 99 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of International Business Machines during the third quarter valued at about $50,000. Paces Ferry Wealth Advisors LLC bought a new stake in shares of International Business Machines in the 3rd quarter valued at about $57,000. Finally, NuWave Investment Management LLC grew its position in shares of International Business Machines by 330.9% in the 4th quarter. NuWave Investment Management LLC now owns 586 shares of the technology company’s stock worth $74,000 after buying an additional 450 shares during the last quarter. Institutional investors and hedge funds own 51.92% of the company’s stock.

Shares of IBM stock opened at $126.92 on Thursday. International Business Machines Co. has a 52-week low of $90.56 and a 52-week high of $158.75. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 2.58. The stock has a market cap of $113.09 billion, a PE ratio of 14.37, a price-to-earnings-growth ratio of 4.32 and a beta of 1.25. The business has a 50-day simple moving average of $125.55 and a 200-day simple moving average of $122.34.

International Business Machines (NYSE:IBM) last announced its quarterly 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. International Business Machines had a return on equity of 48.69% and a net margin of 10.53%. The company had revenue of $17.56 billion during the quarter, compared to analysts’ expectations of $17.56 billion. During the same period last year, the business earned $2.68 earnings per share. International Business Machines’s quarterly revenue was down 2.6% on a year-over-year basis. Sell-side analysts anticipate that International Business Machines Co. will post 8.78 earnings per share for the current fiscal year.

In other International Business Machines news, Director Alex Gorsky bought 4,232 shares of the company’s stock in a transaction dated Monday, November 9th. The shares were purchased at an average cost of $117.86 per share, for a total transaction of $498,783.52. Following the transaction, the director now directly owns 4,232 shares of the company’s stock, valued at $498,783.52. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director David N. Farr purchased 1,500 shares of the business’s stock in a transaction that occurred on Thursday, October 29th. The stock was acquired at an average price of $107.74 per share, with a total value of $161,610.00. Following the purchase, the director now owns 6,758 shares in the company, valued at $728,106.92. The disclosure for this purchase can be found here. Insiders have bought a total of 13,387 shares of company stock worth $1,513,946 in the last ninety days. Corporate insiders own 0.24% of the company’s stock.

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