Seaward Management Limited Partnership lowered its stake in International Business Machines Corp. (NYSE:IBM) by 2.4% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 69,896 shares of the technology company’s stock after selling 1,748 shares during the period. Seaward Management Limited Partnership’s holdings in International Business Machines Corp. were worth $10,608,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Trust N.A. boosted its position in International Business Machines Corp. by 45.9% in the first quarter. Raymond James Trust N.A. now owns 76,020 shares of the technology company’s stock valued at $11,513,000 after buying an additional 23,923 shares during the period. Stokes & Hubbell Capital Management LLC boosted its position in International Business Machines Corp. by 10.2% in the first quarter. Stokes & Hubbell Capital Management LLC now owns 19,068 shares of the technology company’s stock valued at $2,888,000 after buying an additional 1,758 shares during the period. OLD National Bancorp IN boosted its position in International Business Machines Corp. by 5.0% in the first quarter. OLD National Bancorp IN now owns 34,936 shares of the technology company’s stock valued at $5,291,000 after buying an additional 1,674 shares during the period. Bridges Investment Management Inc. boosted its position in International Business Machines Corp. by 33.1% in the first quarter. Bridges Investment Management Inc. now owns 4,575 shares of the technology company’s stock valued at $744,000 after buying an additional 1,139 shares during the period. Finally, Lodestar Investment Counsel LLC IL boosted its position in International Business Machines Corp. by 98.8% in the first quarter. Lodestar Investment Counsel LLC IL now owns 4,135 shares of the technology company’s stock valued at $626,000 after buying an additional 2,055 shares during the period. Institutional investors and hedge funds own 57.61% of the company’s stock.

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

Shares of International Business Machines Corp. (NYSE:IBM) traded down 0.77% during midday trading on Friday, reaching $155.67. 2,671,852 shares of the company’s stock traded hands. International Business Machines Corp. has a one year low of $116.90 and a one year high of $165.00. The company has a 50-day moving average of $157.52 and a 200-day moving average of $154.03. The company has a market capitalization of $148.80 billion, a price-to-earnings ratio of 12.66 and a beta of 0.88.

International Business Machines Corp. (NYSE:IBM) last released its quarterly earnings data on Monday, July 18th. The technology company reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.06. The firm had revenue of $20.20 billion for the quarter, compared to analysts’ expectations of $20.03 billion. International Business Machines Corp. had a net margin of 14.86% and a return on equity of 88.92%. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.84 earnings per share. Equities research analysts anticipate that International Business Machines Corp. will post $13.51 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Saturday, September 10th. Stockholders of record on Wednesday, August 10th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 3.60%. The ex-dividend date was Monday, August 8th. International Business Machines Corp.’s payout ratio is currently 45.53%.

IBM has been the topic of several analyst reports. Vetr upgraded shares of International Business Machines Corp. from a “hold” rating to a “buy” rating and set a $159.42 price target on the stock in a report on Wednesday, June 15th. Zacks Investment Research cut shares of International Business Machines Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, June 21st. JMP Securities reiterated a “buy” rating and issued a $157.00 target price on shares of International Business Machines Corp. in a research note on Thursday, June 23rd. Credit Suisse Group AG reiterated a “sell” rating and issued a $110.00 target price on shares of International Business Machines Corp. in a research note on Thursday, June 23rd. Finally, Morgan Stanley reiterated an “overweight” rating on shares of International Business Machines Corp. in a research note on Wednesday, June 29th. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have assigned a buy rating to the stock. International Business Machines Corp. has a consensus rating of “Hold” and an average target price of $154.47.

In related news, insider Robert J. Leblanc sold 15,708 shares of the business’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $162.25, for a total value of $2,548,623.00. Following the sale, the insider now owns 61,374 shares in the company, valued at $9,957,931.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Erich Clementi sold 6,000 shares of the business’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $160.28, for a total transaction of $961,680.00. Following the completion of the sale, the insider now owns 25,100 shares in the company, valued at approximately $4,023,028. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

About International Business Machines Corp.

International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Global Technology Services (GTS), Global Business Services (GBS), Software, Systems Hardware and Global Financing. The Company’s GTS segment offers services, including strategic outsourcing, integrated technology services, cloud and technology support services (maintenance services).

5 Day Chart for NYSE:IBM

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