Keel Point LLC cut its stake in shares of International Business Machines Corporation (NYSE:IBM) by 3.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,736 shares of the technology company’s stock after selling 178 shares during the period. Keel Point LLC’s holdings in International Business Machines Corporation were worth $825,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Ibex Wealth Advisors acquired a new stake in shares of International Business Machines Corporation during the fourth quarter valued at about $2,784,000. River & Mercantile Asset Management LLP acquired a new stake in shares of International Business Machines Corporation during the fourth quarter valued at about $9,918,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of International Business Machines Corporation during the fourth quarter valued at about $409,000. Norges Bank acquired a new stake in shares of International Business Machines Corporation during the fourth quarter valued at about $1,366,710,000. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of International Business Machines Corporation during the fourth quarter valued at about $490,000. 58.73% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Corporation (IBM) traded down 0.18% on Friday, reaching $141.59. 953,355 shares of the company’s stock were exchanged. The company has a market cap of $131.95 billion, a price-to-earnings ratio of 11.75 and a beta of 0.97. The stock’s 50 day moving average is $149.55 and its 200 day moving average is $162.71. International Business Machines Corporation has a 52 week low of $141.19 and a 52 week high of $182.79.

International Business Machines Corporation (NYSE:IBM) last released its quarterly earnings results on Tuesday, July 18th. The technology company reported $2.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.74 by $0.23. The company had revenue of $19.29 billion for the quarter, compared to analysts’ expectations of $19.45 billion. International Business Machines Corporation had a return on equity of 71.53% and a net margin of 14.58%. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.95 earnings per share. On average, equities analysts anticipate that International Business Machines Corporation will post $13.74 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Saturday, September 9th. Stockholders of record on Thursday, August 10th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 4.23%. The ex-dividend date of this dividend is Tuesday, August 8th. International Business Machines Corporation’s dividend payout ratio (DPR) is currently 49.88%.

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Several brokerages have issued reports on IBM. Vetr lowered shares of International Business Machines Corporation from a “sell” rating to a “strong sell” rating and set a $152.23 price target on the stock. in a report on Monday, April 17th. Cantor Fitzgerald reissued a “hold” rating and issued a $166.00 price target on shares of International Business Machines Corporation in a report on Thursday, April 13th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of International Business Machines Corporation in a report on Tuesday, April 18th. Sanford C. Bernstein reissued a “market perform” rating and issued a $150.00 price target on shares of International Business Machines Corporation in a report on Wednesday, April 19th. Finally, Societe Generale lowered shares of International Business Machines Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, April 19th. Seven investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $157.40.

In other news, Director James W. Owens purchased 1,718 shares of International Business Machines Corporation stock in a transaction dated Tuesday, May 16th. The shares were bought at an average cost of $153.19 per share, for a total transaction of $263,180.42. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.23% of the company’s stock.

International Business Machines Corporation Company Profile

International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.

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Institutional Ownership by Quarter for International Business Machines Corporation (NYSE:IBM)

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