Orrstown Financial Services Inc. reduces its stake in International Business Machines Co. (NYSE:IBM)


Orrstown Financial Services Inc. reduced its holdings of shares of International Business Machines Co. (New York Stock Exchange: IBMGet a rating) by 5.0% in the 1st quarter, according to its last filing with the Securities and Exchange Commission. The institutional investor held 2,111 shares of the tech company after selling 112 shares during the quarter. Orrstown Financial Services Inc.’s holdings in International Business Machines were worth $274,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also changed their positions in the company. Norges Bank bought a new position in International Business Machines during Q4, valued at approximately $1,025,028,000. State Street Corp increased its stake in International Business Machines by 3.3% in the fourth quarter. State Street Corp now owns 53,048,681 shares of the technology company worth $7,090,487,000 after acquiring an additional 1,687,122 shares last quarter. Millennium Management LLC increased its position in International Business Machines shares by 115.2% in the fourth quarter. Millennium Management LLC now owns 212,230 shares of the technology company worth $28,367,000 after purchasing an additional 1,610,410 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of International Business Machines by 6.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,192,375 shares of the technology company worth $2,030,611,000 after purchasing an additional 951,417 shares during the period. Finally, BlackRock Inc. raised its position in shares of International Business Machines by 1.4% in the 4th quarter. BlackRock Inc. now owns 65,452,374 shares of the technology company worth $8,748,364,000 after purchasing an additional 924,180 shares during the period. Hedge funds and other institutional investors own 55.22% of the company’s shares.

Shares of IBM stock opened at $137.85 on Wednesday. The stock has a market capitalization of $123.99 billion, a PE ratio of 22.60, a growth price-earnings ratio of 1.51 and a beta of 1.00. The company has a 50-day simple moving average of $135.15 and a 200-day simple moving average of $131.50. The company has a quick ratio of 0.87, a current ratio of 0.92 and a debt ratio of 2.44. International Business Machines Co. has a 52-week low of $114.56 and a 52-week high of $147.50.

International Business Machinery (New York Stock Exchange: IBMGet a rating) last released its quarterly earnings data on Tuesday, April 19. The technology company reported earnings per share (EPS) of $1.40 for the quarter, beating the consensus estimate of $1.34 by $0.06. The company posted revenue of $14.20 billion in the quarter, compared to $13.84 billion expected by analysts. International Business Machines had a return on equity of 42.14% and a net margin of 8.21%. The company’s revenue for the quarter increased 7.7% year over year. In the same quarter a year earlier, the company posted EPS of $1.77. Sell-side analysts expect International Business Machines Co. to post earnings per share of 9.89 for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 10. Shareholders of record on Tuesday, May 10 received a dividend of $1.65 per share. The ex-dividend date was Monday, May 9. This represents a dividend of $6.60 on an annualized basis and a dividend yield of 4.79%. This is a boost from International Business Machines’ previous quarterly dividend of $1.64. International Business Machines’ dividend payout ratio is currently 108.20%.

IBM has been the subject of several research reports. StockNews.com launched coverage on the shares of International Business Machines in a research report on Thursday, March 31. They issued a “buy” rating for the company. Bank of America raised its price target on shares of International Business Machines from $162.00 to $165.00 and gave the stock a “buy” rating in a Wednesday, April 20 research report. BMO Capital Markets raised its price target on International Business Machines shares from $148.00 to $152.00 and gave the company a “market performance” rating in a Wednesday, April 20 research report . Morgan Stanley raised its price target on shares of International Business Machines from $150.00 to $157.00 and gave the company an “overweight” rating in a Wednesday, April 20 research report. Finally, Credit Suisse Group raised its price target on International Business Machines shares from $165.00 to $166.00 and gave the company an “outperform” rating in a Wednesday 20 research report. april. One analyst rated the stock with a sell rating, five gave the company a hold rating and seven assigned a buy rating. Based on MarketBeat data, International Business Machines currently has an average rating of “Hold” and an average price target of $147.25.

In other news from International Business Machines, major shareholder Business Machine International sold 22,301,536 shares in a deal that took place on Thursday, May 19. The stock was sold at an average price of $13.95, for a total transaction of $311,106,427.20. Following the completion of the transaction, the insider now owns 22,301,536 shares of the company, valued at $311,106,427.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this hyperlink. 0.04% of the shares are held by insiders.

International Business Machines Company Profile (Get a rating)

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 solution; enterprise automation software, AIOps and management, integration and application servers; data and artificial intelligence solutions; and security software and services for threats, data and identity.

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Institutional ownership by quarter for International Business Machines (NYSE:IBM)



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