Cacti Asset Management LLC reduced its stake in International Business Machines Corp. (NYSE:IBM) by 3.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 234,796 shares of the technology company’s stock after selling 8,200 shares during the period. International Business Machines Corp. accounts for approximately 3.8% of Cacti Asset Management LLC’s holdings, making the stock its 8th largest position. Cacti Asset Management LLC’s holdings in International Business Machines Corp. were worth $37,297,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Capital Research Global Investors boosted its stake in shares of International Business Machines Corp. by 81.1% in the second quarter. Capital Research Global Investors now owns 7,135,471 shares of the technology company’s stock valued at $1,083,022,000 after buying an additional 3,194,471 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of International Business Machines Corp. by 2.2% in the second quarter. Vanguard Group Inc. now owns 55,476,336 shares of the technology company’s stock valued at $8,420,198,000 after buying an additional 1,216,940 shares in the last quarter. Capital World Investors boosted its stake in shares of International Business Machines Corp. by 22.3% in the second quarter. Capital World Investors now owns 5,322,000 shares of the technology company’s stock valued at $807,773,000 after buying an additional 972,000 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of International Business Machines Corp. by 45.5% in the second quarter. Alliancebernstein L.P. now owns 2,653,828 shares of the technology company’s stock valued at $402,798,000 after buying an additional 830,006 shares in the last quarter. Finally, BlackRock Fund Advisors boosted its stake in shares of International Business Machines Corp. by 6.4% in the second quarter. BlackRock Fund Advisors now owns 13,451,769 shares of the technology company’s stock valued at $2,041,709,000 after buying an additional 806,207 shares in the last quarter. Institutional investors own 58.19% of the company’s stock.

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

International Business Machines Corp. (NYSE:IBM) traded up 0.37% during midday trading on Friday, hitting $160.39. 2,981,633 shares of the stock traded hands. The company’s 50-day moving average is $154.62 and its 200 day moving average is $154.77. The firm has a market cap of $152.51 billion, a P/E ratio of 13.07 and a beta of 0.94. International Business Machines Corp. has a 12-month low of $116.90 and a 12-month high of $165.00.

International Business Machines Corp. (NYSE:IBM) last issued its earnings results on Monday, October 17th. The technology company reported $3.29 EPS for the quarter, beating the Zacks’ consensus estimate of $3.24 by $0.05. The business earned $19.23 billion during the quarter, compared to analysts’ expectations of $19 billion. International Business Machines Corp. had a net margin of 14.75% and a return on equity of 82.86%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the business earned $3.34 earnings per share. On average, analysts anticipate that International Business Machines Corp. will post $13.50 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 10th. Investors of record on Thursday, November 10th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend is Tuesday, November 8th. International Business Machines Corp.’s dividend payout ratio is currently 45.64%.

Several research analysts have weighed in on IBM shares. Societe Generale set a $160.00 price target on shares of International Business Machines Corp. and gave the stock a “neutral” rating in a research report on Tuesday, September 27th. Zacks Investment Research upgraded shares of International Business Machines Corp. from a “sell” rating to a “hold” rating in a research report on Monday, September 26th. Cantor Fitzgerald reiterated a “hold” rating and issued a $162.00 price target on shares of International Business Machines Corp. in a research report on Monday, September 12th. Wells Fargo & Co. reiterated a “market perform” rating and issued a $155.00 price target (down from $160.00) on shares of International Business Machines Corp. in a research report on Friday, October 21st. Finally, Morgan Stanley decreased their price target on shares of International Business Machines Corp. from $182.00 to $179.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 18th. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $156.04.

In related news, insider Robert J. Picciano sold 1,922 shares of the company’s stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $159.16, for a total value of $305,905.52. Following the completion of the sale, the insider now owns 35,861 shares of the company’s stock, valued at $5,707,636.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kralingen Bridget A. Van sold 330 shares of the company’s stock in a transaction dated Thursday, October 20th. The shares were sold at an average price of $152.05, for a total transaction of $50,176.50. Following the completion of the sale, the insider now directly owns 6,977 shares of the company’s stock, valued at approximately $1,060,852.85. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by corporate insiders.

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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