Reliance Trust Co. of Delaware reduced its position in shares of International Business Machines Corporation (NYSE:IBM) by 11.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,157 shares of the technology company’s stock after selling 2,477 shares during the quarter. Reliance Trust Co. of Delaware’s holdings in International Business Machines Corporation were worth $2,947,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Horan Securities Inc. boosted its stake in shares of International Business Machines Corporation by 845.5% during the 2nd quarter. Horan Securities Inc. now owns 936 shares of the technology company’s stock worth $144,000 after acquiring an additional 837 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in shares of International Business Machines Corporation by 85.1% during the 1st quarter. Proficio Capital Partners LLC now owns 959 shares of the technology company’s stock worth $146,000 after acquiring an additional 441 shares in the last quarter. CKW Financial Group boosted its stake in shares of International Business Machines Corporation by 14.8% during the 1st quarter. CKW Financial Group now owns 938 shares of the technology company’s stock worth $163,000 after acquiring an additional 121 shares in the last quarter. Grisanti Capital Management LLC boosted its stake in shares of International Business Machines Corporation by 2.0% during the 1st quarter. Grisanti Capital Management LLC now owns 1,027 shares of the technology company’s stock worth $179,000 after acquiring an additional 20 shares in the last quarter. Finally, Capital Management Associates NY purchased a new stake in shares of International Business Machines Corporation during the 1st quarter worth about $200,000. 57.87% of the stock is currently owned by institutional investors and hedge funds.

IBM has been the topic of a number of research reports. BidaskClub raised shares of International Business Machines Corporation from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $182.00 price target on shares of International Business Machines Corporation in a research note on Friday, July 21st. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $160.00 price target (down from $165.00) on shares of International Business Machines Corporation in a research note on Saturday, July 22nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $192.00 price target on shares of International Business Machines Corporation in a research note on Wednesday, August 23rd. Finally, Vetr raised shares of International Business Machines Corporation from a “sell” rating to a “hold” rating and set a $150.26 price target on the stock in a research note on Monday, June 19th. Seven investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $157.12.

Shares of International Business Machines Corporation (NYSE:IBM) opened at 145.26 on Friday. The firm has a market cap of $135.37 billion, a P/E ratio of 12.06 and a beta of 0.97. International Business Machines Corporation has a 12-month low of $139.13 and a 12-month high of $182.79. The company has a 50-day moving average of $143.19 and a 200 day moving average of $155.58.

International Business Machines Corporation (NYSE:IBM) last issued its quarterly earnings results on Tuesday, July 18th. The technology company reported $2.97 EPS for the quarter, topping the consensus estimate of $2.74 by $0.23. International Business Machines Corporation had a net margin of 14.58% and a return on equity of 71.53%. The firm had revenue of $19.29 billion during the quarter, compared to analyst estimates of $19.45 billion. During the same quarter in the prior year, the business posted $2.95 earnings per share. International Business Machines Corporation’s revenue for the quarter was down 4.7% compared to the same quarter last year. Equities research analysts anticipate that International Business Machines Corporation will post $13.76 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Saturday, September 9th. Investors of record on Thursday, August 10th were given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 4.11%. The ex-dividend date was Tuesday, August 8th. International Business Machines Corporation’s dividend payout ratio (DPR) is 49.88%.

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About International Business Machines Corporation

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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