Sandy Spring Bank reduced its position in shares of International Business Machines Corp. (NYSE:IBM) by 4.8% in the third quarter, Holdings Channel reports. The institutional investor owned 30,034 shares of the technology company’s stock after selling 1,502 shares during the quarter. Sandy Spring Bank’s holdings in International Business Machines were worth $4,358,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Herndon Capital Management LLC increased its position in International Business Machines by 39.0% during the 2nd quarter. Herndon Capital Management LLC now owns 695 shares of the technology company’s stock valued at $107,000 after purchasing an additional 195 shares during the period. Edge Wealth Management LLC increased its position in International Business Machines by 5.6% during the 2nd quarter. Edge Wealth Management LLC now owns 760 shares of the technology company’s stock valued at $117,000 after purchasing an additional 40 shares during the period. ETF Managers Group LLC purchased a new position in International Business Machines during the 2nd quarter valued at $121,000. Peddock Capital Advisors LLC increased its position in International Business Machines by 7.3% during the 2nd quarter. Peddock Capital Advisors LLC now owns 912 shares of the technology company’s stock valued at $140,000 after purchasing an additional 62 shares during the period. Finally, Horan Securities Inc. increased its position in International Business Machines by 845.5% during the 2nd quarter. Horan Securities Inc. now owns 936 shares of the technology company’s stock valued at $144,000 after purchasing an additional 837 shares during the period. Institutional investors own 57.11% of the company’s stock.

IBM has been the topic of a number of research analyst reports. Drexel Hamilton reissued a “buy” rating and set a $200.00 price objective on shares of International Business Machines in a research report on Tuesday, October 17th. Stifel Nicolaus reissued a “buy” rating and set a $182.00 price objective on shares of International Business Machines in a research report on Friday, October 6th. ValuEngine raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Vetr raised shares of International Business Machines from a “hold” rating to a “buy” rating and set a $164.53 price objective on the stock in a research report on Tuesday, October 24th. Finally, Pivotal Research initiated coverage on shares of International Business Machines in a research report on Friday, October 27th. They set a “buy” rating and a $180.00 price objective on the stock. Seven equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $159.90.

Shares of International Business Machines Corp. (IBM) opened at $163.14 on Friday. The firm has a market cap of $151,030.00, a PE ratio of 13.62, a PEG ratio of 2.36 and a beta of 0.94. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.41 and a quick ratio of 1.36. International Business Machines Corp. has a 1 year low of $139.13 and a 1 year high of $182.79.

International Business Machines (NYSE:IBM) last released its earnings results on Tuesday, October 17th. The technology company reported $3.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.28 by $0.02. The firm had revenue of $19.15 billion for the quarter, compared to the consensus estimate of $18.63 billion. International Business Machines had a net margin of 14.43% and a return on equity of 68.68%. The company’s revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.29 EPS. research analysts anticipate that International Business Machines Corp. will post 13.78 earnings per share for the current fiscal year.

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International Business Machines 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 (NYSE:IBM)

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