King Luther Capital Management Corp trimmed its position in shares of International Business Machines Corp. (NYSE:IBM) by 12.4% during the third quarter, HoldingsChannel.com reports. The fund owned 172,882 shares of the technology company’s stock after selling 24,381 shares during the quarter. King Luther Capital Management Corp’s holdings in International Business Machines were worth $25,082,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of IBM. Herndon Capital Management LLC increased its stake in shares of International Business Machines by 39.0% during the second quarter. Herndon Capital Management LLC now owns 695 shares of the technology company’s stock worth $107,000 after acquiring an additional 195 shares during the period. Edge Wealth Management LLC increased its stake in shares of International Business Machines by 5.6% during the second quarter. Edge Wealth Management LLC now owns 760 shares of the technology company’s stock worth $117,000 after acquiring an additional 40 shares during the period. ETF Managers Group LLC acquired a new position in shares of International Business Machines during the second quarter worth about $121,000. Horan Capital Advisors LLC. acquired a new position in shares of International Business Machines during the third quarter worth about $136,000. Finally, Peddock Capital Advisors LLC increased its stake in shares of International Business Machines by 7.3% during the second quarter. Peddock Capital Advisors LLC now owns 912 shares of the technology company’s stock worth $140,000 after acquiring an additional 62 shares during the period. Institutional investors and hedge funds own 57.06% of the company’s stock.

In other International Business Machines news, Director Frederick H. Waddell purchased 610 shares of International Business Machines stock in a transaction on Wednesday, January 31st. The shares were bought at an average price of $163.38 per share, with a total value of $99,661.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is owned by corporate insiders.

IBM has been the topic of a number of recent analyst reports. Stifel Nicolaus reiterated a “buy” rating and set a $182.00 price target on shares of International Business Machines in a research note on Wednesday, October 18th. Drexel Hamilton reiterated a “buy” rating and set a $200.00 price target on shares of International Business Machines in a research note on Tuesday, October 17th. Vetr upgraded shares of International Business Machines from a “hold” rating to a “buy” rating and set a $164.53 price target on the stock in a research note on Tuesday, October 24th. 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 target price on the stock. Finally, Tigress Financial restated a “buy” rating on shares of International Business Machines in a research report on Friday, December 1st. Seven investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $164.37.

Shares of International Business Machines Corp. (NYSE:IBM) opened at $155.34 on Wednesday. International Business Machines Corp. has a fifty-two week low of $139.13 and a fifty-two week high of $182.79. The stock has a market cap of $141,210.97, a PE ratio of 11.03, a price-to-earnings-growth ratio of 2.23 and a beta of 0.94. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.33 and a quick ratio of 1.29.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Thursday, January 18th. The technology company reported $5.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.17 by $0.01. International Business Machines had a net margin of 7.27% and a return on equity of 69.48%. The company had revenue of $22.54 billion for the quarter, compared to the consensus estimate of $22.03 billion. During the same quarter in the prior year, the firm earned $5.01 earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. equities research analysts expect that International Business Machines Corp. will post 13.82 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 10th. Shareholders of record on Friday, February 9th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 3.86%. The ex-dividend date is Thursday, February 8th. International Business Machines’s dividend payout ratio (DPR) is presently 98.20%.

TRADEMARK VIOLATION WARNING: “International Business Machines Corp. (IBM) Stake Lessened by King Luther Capital Management Corp” was reported by Daily Political and is the sole property of of Daily Political. If you are viewing this report on another site, it was illegally copied and republished in violation of US and international copyright and trademark legislation. The correct version of this report can be viewed at https://www.dailypolitical.com/2018/02/07/international-business-machines-corp-ibm-stake-lessened-by-king-luther-capital-management-corp.html.

About International Business Machines

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.

Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Corp. (NYSE:IBM).

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

Receive News & Ratings for International Business Machines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Business Machines and related companies with MarketBeat.com's FREE daily email newsletter.