Quadrant Private Wealth Management LLC Purchases 10,813 Shares of International Business Machines Corporation $IBM

by · The Cerbat Gem

Quadrant Private Wealth Management LLC raised its position in International Business Machines Corporation (NYSE:IBMFree Report) by 604.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,602 shares of the technology company’s stock after acquiring an additional 10,813 shares during the quarter. Quadrant Private Wealth Management LLC’s holdings in International Business Machines were worth $3,556,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Mattson Financial Services LLC purchased a new stake in International Business Machines in the 3rd quarter worth approximately $852,000. Vise Technologies Inc. bought a new position in shares of International Business Machines in the second quarter worth approximately $16,565,000. Vanguard Group Inc. raised its position in shares of International Business Machines by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 95,051,475 shares of the technology company’s stock valued at $28,019,274,000 after purchasing an additional 1,913,708 shares during the period. Thames Capital Management LLC purchased a new position in shares of International Business Machines during the 2nd quarter valued at $2,710,000. Finally, CWM LLC boosted its stake in shares of International Business Machines by 3.0% in the second quarter. CWM LLC now owns 122,623 shares of the technology company’s stock worth $36,147,000 after acquiring an additional 3,537 shares during the period. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Down 1.0%

NYSE:IBM opened at $294.61 on Friday. The firm has a market capitalization of $275.38 billion, a P/E ratio of 35.24, a PEG ratio of 2.88 and a beta of 0.70. The company’s fifty day moving average price is $302.39 and its 200-day moving average price is $282.69. International Business Machines Corporation has a 1-year low of $214.50 and a 1-year high of $324.90. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.93 and a quick ratio of 0.89.

International Business Machines (NYSE:IBMGet Free Report) last announced its quarterly earnings results on Wednesday, October 22nd. The technology company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.20. The company had revenue of $16.33 billion for the quarter, compared to the consensus estimate of $16.10 billion. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the firm earned $2.30 EPS. As a group, equities research analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current year.

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Wall Street Analyst Weigh In

A number of equities research analysts recently commented on IBM shares. Royal Bank Of Canada boosted their target price on International Business Machines from $300.00 to $350.00 and gave the stock an “outperform” rating in a research report on Monday, January 5th. Oppenheimer assumed coverage on International Business Machines in a research note on Friday, November 21st. They issued an “outperform” rating and a $360.00 target price on the stock. Sanford C. Bernstein reiterated a “market perform” rating on shares of International Business Machines in a report on Wednesday, December 10th. Wall Street Zen downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Sunday, January 11th. Finally, Jefferies Financial Group upgraded International Business Machines from a “hold” rating to a “buy” rating and upped their price objective for the stock from $300.00 to $360.00 in a research note on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $306.86.

Read Our Latest Research Report on IBM

About International Business Machines

(Free Report)

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.

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