Portland Global Advisors LLC Has $3.76 Million Holdings in IBM (NYSE:IBM)

Portland Global Advisors LLC grew its holdings in shares of IBM (NYSE:IBM) by 1.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,255 shares of the technology company’s stock after purchasing an additional 284 shares during the period. IBM comprises 1.3% of Portland Global Advisors LLC’s holdings, making the stock its 16th largest holding. Portland Global Advisors LLC’s holdings in IBM were worth $3,758,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in IBM. Excalibur Management Corp raised its stake in shares of IBM by 2.4% during the second quarter. Excalibur Management Corp now owns 8,298 shares of the technology company’s stock valued at $1,144,000 after acquiring an additional 196 shares during the last quarter. Braun Stacey Associates Inc. increased its position in shares of IBM by 1.2% during the second quarter. Braun Stacey Associates Inc. now owns 6,450 shares of the technology company’s stock worth $889,000 after buying an additional 75 shares during the period. Mount Vernon Associates Inc. MD increased its position in shares of IBM by 76.3% during the second quarter. Mount Vernon Associates Inc. MD now owns 11,820 shares of the technology company’s stock worth $1,630,000 after buying an additional 5,115 shares during the period. Greenleaf Trust increased its position in shares of IBM by 5.8% during the second quarter. Greenleaf Trust now owns 8,523 shares of the technology company’s stock worth $1,175,000 after buying an additional 466 shares during the period. Finally, Westside Investment Management Inc. acquired a new stake in shares of IBM during the second quarter worth $57,760,000. Hedge funds and other institutional investors own 55.22% of the company’s stock.

NYSE:IBM traded down $3.08 during trading hours on Wednesday, reaching $137.65. The company had a trading volume of 295,551 shares, compared to its average volume of 4,237,939. The company has a current ratio of 1.83, a quick ratio of 1.79 and a debt-to-equity ratio of 3.51. The company has a market capitalization of $122.99 billion, a price-to-earnings ratio of 9.97, a price-to-earnings-growth ratio of 2.54 and a beta of 1.28. The stock has a 50-day moving average price of $143.62. IBM has a twelve month low of $105.94 and a twelve month high of $154.36.

IBM (NYSE:IBM) last posted its quarterly earnings results on Wednesday, July 17th. The technology company reported $3.17 EPS for the quarter, topping analysts’ consensus estimates of $3.06 by $0.11. The business had revenue of $19.20 billion during the quarter, compared to analysts’ expectations of $19.20 billion. IBM had a net margin of 11.22% and a return on equity of 69.56%. The business’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period last year, the company posted $3.08 earnings per share. As a group, equities analysts predict that IBM will post 13.76 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date of this dividend is Thursday, August 8th. IBM’s payout ratio is 46.92%.

Several equities research analysts have recently weighed in on the stock. Tigress Financial reiterated a “hold” rating on shares of IBM in a research report on Friday, July 26th. Nomura increased their price objective on shares of IBM from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday. JPMorgan Chase & Co. assumed coverage on shares of IBM in a research report on Thursday, July 18th. They set a “neutral” rating and a $147.00 price objective for the company. Zacks Investment Research upgraded shares of IBM from a “sell” rating to a “hold” rating in a research report on Monday, April 22nd. Finally, UBS Group set a $160.00 price objective on shares of IBM and gave the stock a “buy” rating in a research report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the stock. IBM has a consensus rating of “Hold” and an average target price of $155.00.

In other IBM news, SVP Kenneth M. Keverian sold 2,227 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $135.15, for a total value of $300,979.05. Following the completion of the sale, the senior vice president now directly owns 32,878 shares in the company, valued at $4,443,461.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kenneth M. Keverian sold 2,690 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $135.50, for a total transaction of $364,495.00. Following the completion of the sale, the senior vice president now owns 34,665 shares of the company’s stock, valued at $4,697,107.50. The disclosure for this sale can be found here. Insiders sold 7,000 shares of company stock valued at $940,430 over the last 90 days. Corporate insiders own 0.19% of the company’s stock.

About IBM

International Business Machines Corporation operates as an integrated technology and services company worldwide. Its Cognitive Solutions segment offers a portfolio of enterprise artificial intelligence platforms, such as analytics and data management platforms, cloud data services, talent management, and industry solutions primarily under the Watson Platform, Watson Health, and Watson Internet of Things names.

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Institutional Ownership by Quarter for IBM (NYSE:IBM)

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