Chevy Chase Trust Holdings LLC Acquires 9,410 Shares of International Business Machines Co. (NYSE:IBM)

Chevy Chase Trust Holdings LLC increased its stake in shares of International Business Machines Co. (NYSE:IBM – Get Rating) by 1.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 566,270 shares of the technology company’s stock after acquiring an additional 9,410 shares during the period. Chevy Chase Trust Holdings LLC owned 0.06% of International Business Machines worth $67,279,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. XML Financial LLC boosted its stake in International Business Machines by 2,097.7% during the 3rd quarter. XML Financial LLC now owns 41,031 shares of the technology company’s stock valued at $4,875,000 after purchasing an additional 39,164 shares during the period. Vontobel Holding Ltd. boosted its stake in International Business Machines by 6.4% during the 3rd quarter. Vontobel Holding Ltd. now owns 201,977 shares of the technology company’s stock valued at $23,997,000 after purchasing an additional 12,095 shares during the period. Tortoise Investment Management LLC boosted its stake in International Business Machines by 33.0% during the 3rd quarter. Tortoise Investment Management LLC now owns 2,442 shares of the technology company’s stock valued at $290,000 after purchasing an additional 606 shares during the period. Empirical Finance LLC boosted its stake in International Business Machines by 19.8% during the 3rd quarter. Empirical Finance LLC now owns 21,826 shares of the technology company’s stock valued at $2,593,000 after purchasing an additional 3,606 shares during the period. Finally, Retirement Systems of Alabama lifted its position in shares of International Business Machines by 2.9% in the 3rd quarter. Retirement Systems of Alabama now owns 947,491 shares of the technology company’s stock worth $112,571,000 after acquiring an additional 26,819 shares during the period. Institutional investors own 55.90% of the company’s stock.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, VP Bene Robert F. Del sold 3,000 shares of International Business Machines stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $148.36, for a total value of $445,080.00. Following the sale, the vice president now owns 14,553 shares of the company’s stock, valued at approximately $2,159,083.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Morgan Stanley downgraded International Business Machines from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $152.00 to $148.00 in a research report on Wednesday, January 18th. UBS Group dropped their target price on International Business Machines from $112.00 to $111.00 and set a “sell” rating for the company in a report on Thursday, October 20th. Stifel Nicolaus upped their target price on shares of International Business Machines from $140.00 to $158.00 and gave the stock a “buy” rating in a research report on Monday. Moffett Nathanson upgraded International Business Machines from an “underperform” rating to a “market perform” rating and set a $140.00 price objective on the stock in a research report on Thursday, January 19th. Finally, StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research report on Friday, October 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $142.30.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $141.49 on Wednesday. The company has a market capitalization of $127.93 billion, a PE ratio of 103.28, a PEG ratio of 2.66 and a beta of 0.89. International Business Machines Co. has a 12 month low of $115.54 and a 12 month high of $153.21. The company has a current ratio of 0.95, a quick ratio of 0.89 and a debt-to-equity ratio of 2.23. The stock’s fifty day simple moving average is $144.62 and its 200 day simple moving average is $135.50.

International Business Machines Profile

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International Business Machines Corporation provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions, such as Red Hat, an enterprise open-source solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.