Psagot Investment House Ltd. cut its position in shares of International Business Machines Corp. (NYSE:IBM) by 11.8% during the second quarter, Holdings Channel reports. The institutional investor owned 1,861 shares of the technology company’s stock after selling 250 shares during the period. Psagot Investment House Ltd.’s holdings in International Business Machines Corp. were worth $282,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the stock. Jackson Grant Investment Advisers Inc. boosted its position in shares of International Business Machines Corp. by 0.7% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 726 shares of the technology company’s stock valued at $110,000 after buying an additional 5 shares during the last quarter. Round Table Services LLC boosted its position in shares of International Business Machines Corp. by 0.4% in the second quarter. Round Table Services LLC now owns 1,620 shares of the technology company’s stock valued at $246,000 after buying an additional 6 shares during the last quarter. Nadler Financial Group Inc. boosted its position in shares of International Business Machines Corp. by 0.4% in the second quarter. Nadler Financial Group Inc. now owns 2,243 shares of the technology company’s stock valued at $340,000 after buying an additional 8 shares during the last quarter. Financial & Investment Management Group Ltd. boosted its position in shares of International Business Machines Corp. by 0.7% in the second quarter. Financial & Investment Management Group Ltd. now owns 1,921 shares of the technology company’s stock valued at $292,000 after buying an additional 14 shares during the last quarter. Finally, Alpha Windward LLC boosted its position in shares of International Business Machines Corp. by 1.1% in the second quarter. Alpha Windward LLC now owns 1,324 shares of the technology company’s stock valued at $201,000 after buying an additional 15 shares during the last quarter. 57.61% of the stock is owned by hedge funds and other institutional investors.

Shares of International Business Machines Corp. (NYSE:IBM) traded up 0.68% during mid-day trading on Thursday, hitting $156.58. 1,333,539 shares of the stock traded hands. International Business Machines Corp. has a 1-year low of $116.90 and a 1-year high of $164.95. The company’s 50-day moving average price is $159.26 and its 200 day moving average price is $152.94. The company has a market capitalization of $149.67 billion, a PE ratio of 12.73 and a beta of 0.77.

International Business Machines Corp. (NYSE:IBM) last issued its earnings results on Monday, July 18th. The technology company reported $2.95 EPS for the quarter, topping the consensus estimate of $2.89 by $0.06. International Business Machines Corp. had a net margin of 14.86% and a return on equity of 88.92%. The company had revenue of $20.20 billion for the quarter, compared to the consensus estimate of $20.03 billion. During the same period in the previous year, the firm earned $3.84 earnings per share. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. Equities research analysts forecast that International Business Machines Corp. will post $13.51 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Saturday, September 10th. Investors of record on Wednesday, August 10th were issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 3.60%. The ex-dividend date was Monday, August 8th. International Business Machines Corp.’s dividend payout ratio (DPR) is currently 45.53%.

Several equities analysts have recently commented on IBM shares. Vetr cut shares of International Business Machines Corp. from a “buy” rating to a “hold” rating and set a $157.34 target price for the company. in a research report on Wednesday, May 25th. Zacks Investment Research cut shares of International Business Machines Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, June 21st. JMP Securities restated a “buy” rating and issued a $157.00 target price on shares of International Business Machines Corp. in a research report on Thursday, June 23rd. Credit Suisse Group AG restated a “sell” rating and issued a $110.00 target price on shares of International Business Machines Corp. in a research report on Thursday, June 23rd. Finally, Morgan Stanley restated an “overweight” rating on shares of International Business Machines Corp. in a research report on Wednesday, June 29th. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $153.22.

In related news, insider Robert J. Picciano sold 1,922 shares of International Business Machines Corp. stock in a transaction on Wednesday, August 31st. The shares were sold at an average price of $159.16, for a total value of $305,905.52. Following the sale, the insider now owns 35,861 shares in the company, valued at $5,707,636.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Robert J. Leblanc sold 15,708 shares of International Business Machines Corp. stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $162.25, for a total transaction of $2,548,623.00. Following the completion of the sale, the insider now owns 61,374 shares in the company, valued at approximately $9,957,931.50. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by corporate 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).

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