Flippin Bruce & Porter Inc. lessened its position in shares of International Business Machines Corp. (NYSE:IBM) by 1.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 84,084 shares of the technology company’s stock after selling 1,294 shares during the quarter. International Business Machines comprises about 2.7% of Flippin Bruce & Porter Inc.’s holdings, making the stock its 4th largest position. Flippin Bruce & Porter Inc.’s holdings in International Business Machines were worth $12,199,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in International Business Machines by 3.7% in the 2nd quarter. Vanguard Group Inc. now owns 62,228,040 shares of the technology company’s stock valued at $9,572,538,000 after purchasing an additional 2,241,818 shares during the last quarter. BlackRock Inc. increased its holdings in International Business Machines by 2.4% in the 2nd quarter. BlackRock Inc. now owns 52,936,360 shares of the technology company’s stock valued at $8,143,204,000 after purchasing an additional 1,241,441 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in International Business Machines by 3.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 4,651,213 shares of the technology company’s stock valued at $715,497,000 after purchasing an additional 134,862 shares during the last quarter. Swiss National Bank increased its holdings in International Business Machines by 2.9% in the 2nd quarter. Swiss National Bank now owns 3,534,977 shares of the technology company’s stock valued at $543,786,000 after purchasing an additional 100,700 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in International Business Machines by 151.2% in the 2nd quarter. Nordea Investment Management AB now owns 3,250,047 shares of the technology company’s stock valued at $499,955,000 after purchasing an additional 1,956,033 shares during the last quarter. 57.12% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts recently weighed in on the stock. Wedbush reiterated a “neutral” rating and issued a $185.00 target price (up previously from $155.00) on shares of International Business Machines in a report on Thursday. They noted that the move was a valuation call. Barclays upgraded shares of International Business Machines from an “underweight” rating to an “overweight” rating and lifted their target price for the company from $133.00 to $192.00 in a report on Wednesday. Oppenheimer restated a “hold” rating on shares of International Business Machines in a research note on Wednesday, October 18th. BMO Capital Markets restated a “hold” rating and issued a $175.00 price target on shares of International Business Machines in a research note on Thursday, January 11th. They noted that the move was a valuation call. Finally, ValuEngine upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Six investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $163.32.

Shares of International Business Machines Corp. (IBM) opened at $169.12 on Friday. The stock has a market cap of $156,134.72, a price-to-earnings ratio of 14.13, a PEG ratio of 2.46 and a beta of 0.94. International Business Machines Corp. has a 1 year low of $139.13 and a 1 year high of $182.79. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.36 and a current ratio of 1.41.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Thursday, January 18th. The technology company reported $5.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.17 by $0.01. The business had revenue of $22.54 billion during the quarter, compared to analysts’ expectations of $22.03 billion. International Business Machines had a net margin of 14.43% and a return on equity of 68.68%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the previous year, the company earned $5.01 EPS. research analysts anticipate that International Business Machines Corp. will post 13.79 earnings per share for the current year.

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International Business Machines 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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