Curbstone Financial Management Corp Invests $408,000 in International Business Machines Co. (NYSE:IBM)

Curbstone Financial Management Corp acquired a new position in shares of International Business Machines Co. (NYSE:IBM) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,244 shares of the technology company’s stock, valued at approximately $408,000.

Several other hedge funds and other institutional investors have also bought and sold shares of IBM. Morgan Stanley grew its position in International Business Machines by 7.7% in the 3rd quarter. Morgan Stanley now owns 9,261,401 shares of the technology company’s stock worth $1,126,834,000 after purchasing an additional 658,340 shares during the last quarter. Natixis increased its holdings in shares of International Business Machines by 190.0% in the third quarter. Natixis now owns 941,752 shares of the technology company’s stock valued at $114,583,000 after buying an additional 616,995 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of International Business Machines by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,628,307 shares of the technology company’s stock valued at $1,414,817,000 after acquiring an additional 394,178 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of International Business Machines by 14.8% during the 3rd quarter. First Trust Advisors LP now owns 2,991,072 shares of the technology company’s stock worth $363,924,000 after acquiring an additional 386,019 shares in the last quarter. Finally, Retirement Systems of Alabama grew its holdings in shares of International Business Machines by 73.6% in the 3rd quarter. Retirement Systems of Alabama now owns 658,945 shares of the technology company’s stock worth $80,174,000 after acquiring an additional 279,308 shares during the last quarter. 55.67% of the stock is owned by institutional investors and hedge funds.

Shares of IBM opened at $128.97 on Friday. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.00 and a current ratio of 1.05. The firm has a market cap of $114.92 billion, a PE ratio of 14.61, a PEG ratio of 3.40 and a beta of 1.25. The firm’s 50 day moving average price is $125.60 and its 200 day moving average price is $122.39. International Business Machines Co. has a twelve month low of $90.56 and a twelve month high of $158.75.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Monday, October 19th. The technology company reported $2.58 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.58. International Business Machines had a net margin of 10.53% and a return on equity of 48.69%. The business had revenue of $17.56 billion for the quarter, compared to the consensus estimate of $17.56 billion. During the same quarter last year, the firm earned $2.68 EPS. International Business Machines’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, sell-side analysts anticipate that International Business Machines Co. will post 8.73 earnings per share for the current fiscal year.

IBM has been the subject of a number of recent analyst reports. BMO Capital Markets decreased their price target on International Business Machines from $140.00 to $138.00 and set a “market perform” rating for the company in a research report on Tuesday, October 20th. Morgan Stanley lifted their price target on International Business Machines from $128.00 to $140.00 and gave the company an “equal weight” rating in a report on Friday, October 9th. Finally, Zacks Investment Research downgraded International Business Machines from a “hold” rating to a “sell” rating and set a $124.00 price objective for the company. in a research note on Wednesday, October 21st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. International Business Machines has a consensus rating of “Hold” and an average price target of $139.06.

In other news, Director Alex Gorsky bought 4,232 shares of the company’s stock in a transaction that occurred on Monday, November 9th. The shares were purchased at an average price of $117.86 per share, for a total transaction of $498,783.52. Following the acquisition, the director now directly owns 4,232 shares of the company’s stock, valued at approximately $498,783.52. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director David N. Farr bought 1,500 shares of the business’s stock in a transaction on Thursday, October 29th. The shares were purchased at an average cost of $107.74 per share, with a total value of $161,610.00. Following the transaction, the director now owns 6,758 shares in the company, valued at $728,106.92. The disclosure for this purchase can be found here. In the last three months, insiders have bought 13,387 shares of company stock worth $1,513,946. 0.24% of the stock is currently owned by insiders.

International Business Machines Company Profile

International Business Machines Corporation provides integrated solutions and services worldwide. Its Cloud & Cognitive Software segment offers software for vertical and domain-specific solutions in health, financial services, and Internet of Things (IoT), weather, and security software and services application areas; and customer information control system and storage, and analytics and integration software solutions to support client mission critical on-premise workloads in banking, airline, and retail industries.