Cincinnati Financial Corp maintained its position in International Business Machines Corp. (NYSE:IBM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 220,500 shares of the technology company’s stock at the end of the second quarter. International Business Machines Corp. accounts for about 1.9% of Cincinnati Financial Corp’s portfolio, making the stock its 24th largest position. Cincinnati Financial Corp’s holdings in International Business Machines Corp. were worth $33,467,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Affinity Investment Advisors LLC boosted its position in International Business Machines Corp. by 449.0% in the second quarter. Affinity Investment Advisors LLC now owns 51,279 shares of the technology company’s stock worth $7,783,000 after buying an additional 41,939 shares in the last quarter. Brave Asset Management Inc boosted its position in International Business Machines Corp. by 115.2% in the second quarter. Brave Asset Management Inc now owns 10,251 shares of the technology company’s stock worth $1,556,000 after buying an additional 5,487 shares in the last quarter. Schroder Investment Management Group boosted its position in International Business Machines Corp. by 18.9% in the second quarter. Schroder Investment Management Group now owns 2,373,155 shares of the technology company’s stock worth $360,198,000 after buying an additional 376,507 shares in the last quarter. Financial Advisory Service Inc. boosted its position in International Business Machines Corp. by 2.9% in the second quarter. Financial Advisory Service Inc. now owns 2,542 shares of the technology company’s stock worth $386,000 after buying an additional 71 shares in the last quarter. Finally, Stellar Capital Management LLC boosted its position in International Business Machines Corp. by 7.9% in the second quarter. Stellar Capital Management LLC now owns 2,286 shares of the technology company’s stock worth $347,000 after buying an additional 168 shares in the last quarter. Hedge funds and other institutional investors own 57.82% of the company’s stock.
International Business Machines Corp. (NYSE:IBM) traded up 0.04% during midday trading on Friday, hitting $152.43. 2,470,368 shares of the stock were exchanged. The firm has a market capitalization of $144.94 billion, a price-to-earnings ratio of 12.42 and a beta of 0.94. International Business Machines Corp. has a one year low of $116.90 and a one year high of $165.00. The company has a 50 day moving average price of $154.33 and a 200 day moving average price of $154.43.
International Business Machines Corp. (NYSE:IBM) last posted its quarterly earnings data on Monday, October 17th. The technology company reported $3.29 earnings per share for the quarter, beating the consensus estimate of $3.24 by $0.05. The firm earned $19.23 billion during the quarter, compared to analysts’ expectations of $19 billion. International Business Machines Corp. had a net margin of 14.75% and a return on equity of 82.86%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter last year, the company posted $3.34 EPS. Equities analysts anticipate that International Business Machines Corp. will post $13.50 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, December 10th. Shareholders of record on Thursday, November 10th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend is Tuesday, November 8th. International Business Machines Corp.’s payout ratio is presently 45.64%.
A number of research firms have commented on IBM. Vetr cut International Business Machines Corp. from a “buy” rating to a “hold” rating and set a $157.99 price target on the stock. in a research note on Thursday, October 27th. Sanford C. Bernstein restated a “market perform” rating and set a $140.00 price target on shares of International Business Machines Corp. in a research note on Friday, October 21st. Wells Fargo & Co. restated a “market perform” rating and set a $155.00 price target (down from $160.00) on shares of International Business Machines Corp. in a research note on Friday, October 21st. Deutsche Bank AG restated a “hold” rating and set a $145.00 price target on shares of International Business Machines Corp. in a research note on Friday, October 21st. Finally, Cantor Fitzgerald restated a “hold” rating and set a $156.00 price target (down from $162.00) on shares of International Business Machines Corp. in a research note on Friday, October 21st. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $153.87.
In other news, insider Robert J. Leblanc sold 15,708 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $162.25, for a total value of $2,548,623.00. Following the transaction, the insider now owns 61,374 shares of the company’s stock, valued at approximately $9,957,931.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David N. Farr bought 1,300 shares of International Business Machines Corp. stock in a transaction dated Tuesday, October 25th. The stock was acquired at an average cost of $149.93 per share, for a total transaction of $194,909.00. Following the purchase, the director now directly owns 3,758 shares in the company, valued at approximately $563,436.94. The disclosure for this purchase can be found here. 0.08% of the stock is currently owned by company insiders.
About International Business Machines Corp.
International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Global Technology Services (GTS), Global Business Services (GBS), Software, Systems Hardware and Global Financing. The Company’s GTS segment offers services, including strategic outsourcing, integrated technology services, cloud and technology support services (maintenance services).