IBM (IBM) Shares Bought by Alerus Financial NA

Alerus Financial NA raised its holdings in IBM (NYSE:IBM) by 541.7% in the first quarter, HoldingsChannel.com reports. The fund owned 16,966 shares of the technology company’s stock after acquiring an additional 14,322 shares during the period. Alerus Financial NA’s holdings in IBM were worth $2,393,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Peoples Bank OH acquired a new position in IBM in the first quarter valued at about $226,000. Alpha Omega Wealth Management LLC grew its stake in IBM by 17.7% in the first quarter. Alpha Omega Wealth Management LLC now owns 24,533 shares of the technology company’s stock valued at $3,462,000 after acquiring an additional 3,681 shares during the period. Joseph P. Lucia & Associates LLC acquired a new position in IBM in the first quarter valued at about $415,000. Ironwood Investment Counsel LLC grew its stake in IBM by 49.1% in the first quarter. Ironwood Investment Counsel LLC now owns 32,373 shares of the technology company’s stock valued at $4,567,000 after acquiring an additional 10,655 shares during the period. Finally, John G Ullman & Associates Inc. grew its stake in IBM by 12.3% in the first quarter. John G Ullman & Associates Inc. now owns 49,416 shares of the technology company’s stock valued at $6,973,000 after acquiring an additional 5,410 shares during the period. 55.65% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Diane J. Gherson sold 1,989 shares of the company’s stock in a transaction dated Wednesday, February 13th. The stock was sold at an average price of $137.25, for a total transaction of $272,990.25. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Erich Clementi sold 13,000 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $139.01, for a total value of $1,807,130.00. The disclosure for this sale can be found here. Insiders have sold 15,113 shares of company stock worth $2,096,923 in the last quarter. 0.19% of the stock is currently owned by corporate insiders.



A number of research analysts have issued reports on IBM shares. Stifel Nicolaus boosted their target price on IBM from $145.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, January 15th. Cantor Fitzgerald reissued a “hold” rating and issued a $140.00 target price on shares of IBM in a research note on Wednesday, January 16th. Citigroup boosted their target price on IBM from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, January 23rd. UBS Group set a $160.00 target price on IBM and gave the company a “buy” rating in a research note on Wednesday, April 17th. Finally, Wells Fargo & Co restated a “market perform” rating and issued a $140.00 price target (down from $155.00) on shares of IBM in a report on Wednesday, January 23rd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $155.72.

Shares of IBM stock opened at $131.42 on Tuesday. The stock has a market capitalization of $117.83 billion, a PE ratio of 9.52, a PEG ratio of 2.46 and a beta of 1.23. IBM has a one year low of $105.94 and a one year high of $154.36. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.31 and a current ratio of 1.36.

IBM (NYSE:IBM) last issued its quarterly earnings results on Tuesday, April 16th. The technology company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.03. The company had revenue of $18.18 billion for the quarter, compared to analyst estimates of $18.53 billion. IBM had a return on equity of 68.76% and a net margin of 10.98%. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.45 earnings per share. Analysts predict that IBM will post 13.89 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.93%. The ex-dividend date of this dividend is Thursday, May 9th. This is a positive change from IBM’s previous quarterly dividend of $1.57. IBM’s dividend payout ratio is presently 46.92%.

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IBM Profile

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.

Read More: What do investors mean by earnings per share?

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Institutional Ownership by Quarter for IBM (NYSE:IBM)

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