Conning Inc. cut its stake in International Business Machines Corp. (NYSE:IBM) by 7.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 210,891 shares of the technology company’s stock after selling 17,519 shares during the period. International Business Machines Corp. accounts for about 1.3% of Conning Inc.’s investment portfolio, making the stock its 17th largest position. Conning Inc.’s holdings in International Business Machines Corp. were worth $32,009,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Americafirst Capital Management LLC purchased a new position in shares of International Business Machines Corp. during the second quarter valued at about $120,000. Alpha Windward LLC boosted its position in shares of International Business Machines Corp. by 1.1% in the second quarter. Alpha Windward LLC now owns 1,324 shares of the technology company’s stock valued at $201,000 after buying an additional 15 shares during the last quarter. Allen Investment Management LLC purchased a new position in shares of International Business Machines Corp. during the first quarter valued at about $205,000. Mitchell Sinkler & Starr PA boosted its position in shares of International Business Machines Corp. by 3.1% in the second quarter. Mitchell Sinkler & Starr PA now owns 1,516 shares of the technology company’s stock valued at $230,000 after buying an additional 45 shares during the last quarter. Finally, Independence Advisors LLC purchased a new position in shares of International Business Machines Corp. during the second quarter valued at about $231,000. Hedge funds and other institutional investors own 57.61% of the company’s stock.

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

International Business Machines Corp. (NYSE:IBM) traded up 0.87% during midday trading on Monday, hitting $157.02. The company had a trading volume of 2,479,389 shares. International Business Machines Corp. has a 52-week low of $116.90 and a 52-week high of $165.00. The stock has a 50 day moving average of $157.52 and a 200 day moving average of $154.03. The firm has a market cap of $150.09 billion, a price-to-earnings ratio of 12.77 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 for the quarter, beating the consensus estimate of $2.89 by $0.06. International Business Machines Corp. had a return on equity of 88.92% and a net margin of 14.86%. The firm earned $20.20 billion during the quarter, compared to the consensus estimate of $20.03 billion. During the same period last year, the business posted $3.84 EPS. International Business Machines Corp.’s quarterly revenue was down 2.8% on a year-over-year basis. On average, analysts anticipate that International Business Machines Corp. will post $13.51 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Saturday, September 10th. Shareholders of record on Wednesday, August 10th were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend was Monday, August 8th. International Business Machines Corp.’s dividend payout ratio (DPR) is presently 45.53%.

Several research analysts have recently issued reports on IBM shares. Vetr upgraded International Business Machines Corp. from a “hold” rating to a “buy” rating and set a $153.81 price objective for the company in a research note on Monday, June 27th. JMP Securities restated a “buy” rating and issued a $157.00 price objective on shares of International Business Machines Corp. in a research note on Thursday, June 23rd. Drexel Hamilton restated a “buy” rating and issued a $166.00 price objective on shares of International Business Machines Corp. in a research note on Friday, July 15th. Morgan Stanley restated a “buy” rating and issued a $168.00 price objective on shares of International Business Machines Corp. in a research note on Sunday, July 17th. Finally, Zacks Investment Research upgraded International Business Machines Corp. from a “hold” rating to a “buy” rating and set a $179.00 price objective for the company in a research note on Monday, July 18th. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $154.47.

In other International Business Machines Corp. news, insider Robert J. Leblanc sold 15,708 shares of the stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $162.25, for a total transaction of $2,548,623.00. Following the sale, the insider now owns 61,374 shares in the company, valued at approximately $9,957,931.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John E. Kelly III sold 6,698 shares of the stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $160.89, for a total value of $1,077,641.22. Following the sale, the insider now owns 33,576 shares in the company, valued at approximately $5,402,042.64. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

International Business Machines Corp. Company Profile

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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