Adams Asset Advisors LLC lifted its holdings in shares of IBM (NYSE:IBM) by 14.0% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 48,705 shares of the technology company’s stock after acquiring an additional 5,970 shares during the period. IBM makes up approximately 0.8% of Adams Asset Advisors LLC’s investment portfolio, making the stock its 17th largest holding. Adams Asset Advisors LLC’s holdings in IBM were worth $7,364,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Adalta Capital Management LLC purchased a new stake in IBM in the first quarter valued at approximately $230,000. Coastline Trust Co boosted its position in IBM by 14.7% in the second quarter. Coastline Trust Co now owns 19,353 shares of the technology company’s stock valued at $2,704,000 after buying an additional 2,475 shares during the last quarter. Berkshire Asset Management LLC PA boosted its position in IBM by 2.4% in the third quarter. Berkshire Asset Management LLC PA now owns 20,690 shares of the technology company’s stock valued at $3,129,000 after buying an additional 481 shares during the last quarter. Argus Investors Counsel Inc. boosted its position in IBM by 18.8% in the second quarter. Argus Investors Counsel Inc. now owns 27,425 shares of the technology company’s stock valued at $3,831,000 after buying an additional 4,349 shares during the last quarter. Finally, Viking Fund Management LLC boosted its position in IBM by 3.8% in the third quarter. Viking Fund Management LLC now owns 27,000 shares of the technology company’s stock valued at $4,083,000 after buying an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 55.39% of the company’s stock.
NYSE:IBM traded up $3.99 during trading hours on Tuesday, reaching $145.12. The company had a trading volume of 758,229 shares, compared to its average volume of 4,849,595. IBM has a 1-year low of $137.45 and a 1-year high of $171.13. The company has a market capitalization of $138.02 billion, a PE ratio of 10.46, a PEG ratio of 2.20 and a beta of 0.87. The company has a current ratio of 1.32, a quick ratio of 1.27 and a debt-to-equity ratio of 2.03.
IBM (NYSE:IBM) last announced its quarterly earnings results on Wednesday, July 18th. The technology company reported $3.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.04 by $0.04. IBM had a return on equity of 69.84% and a net margin of 7.13%. The company had revenue of $20 billion during the quarter, compared to the consensus estimate of $19.85 billion. During the same period in the previous year, the company posted $2.94 earnings per share. IBM’s revenue for the quarter was up 3.7% on a year-over-year basis. Equities research analysts predict that IBM will post 13.82 earnings per share for the current fiscal year.
A number of equities research analysts recently commented on IBM shares. Wedbush reiterated a “neutral” rating and issued a $185.00 target price on shares of IBM in a research report on Thursday, July 19th. Societe Generale set a $149.00 target price on IBM and gave the company a “sell” rating in a research report on Thursday, July 19th. JPMorgan Chase & Co. reiterated a “$149.24” rating and issued a $157.00 target price on shares of IBM in a research report on Thursday, July 19th. Nomura started coverage on IBM in a research report on Wednesday, June 27th. They issued a “buy” rating and a $160.00 target price on the stock. Finally, BMO Capital Markets dropped their target price on IBM from $175.00 to $172.00 and set a “$149.24” rating on the stock in a research report on Thursday, July 19th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $168.45.
In other news, insider Diane J. Gherson sold 11,451 shares of the company’s stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $145.42, for a total transaction of $1,665,204.42. Following the completion of the transaction, the insider now directly owns 19,114 shares of the company’s stock, valued at approximately $2,779,557.88. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.17% of the company’s stock.
IBM Company Profile
International Business Machines Corporation operates as an integrated technology and services company worldwide. Its Cognitive Solutions segment offers Watson, a cognitive computing platform that interacts in natural language, processes big data, and learns from interactions with people and computers.
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