Oliver Luxxe Assets LLC increased its stake in shares of International Business Machines Corp. (NYSE:IBM) by 7.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,501 shares of the technology company’s stock after buying an additional 1,704 shares during the period. International Business Machines Corp. comprises approximately 3.1% of Oliver Luxxe Assets LLC’s investment portfolio, making the stock its 6th largest position. Oliver Luxxe Assets LLC’s holdings in International Business Machines Corp. were worth $3,892,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Roble Belko & Company Inc raised its stake in shares of International Business Machines Corp. by 2.9% in the second quarter. Roble Belko & Company Inc now owns 674 shares of the technology company’s stock worth $102,000 after buying an additional 19 shares during the period. Thomas J. Herzfeld Advisors Inc. acquired a new stake in shares of International Business Machines Corp. during the second quarter worth approximately $105,000. Cypress Capital Management LLC WY acquired a new stake in shares of International Business Machines Corp. during the second quarter worth approximately $107,000. Jackson Grant Investment Advisers Inc. raised its stake in shares of International Business Machines Corp. by 0.7% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 726 shares of the technology company’s stock worth $110,000 after buying an additional 5 shares during the period. Finally, Americafirst Capital Management LLC acquired a new stake in shares of International Business Machines Corp. during the second quarter worth approximately $120,000. Institutional investors own 57.23% of the company’s stock.

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

International Business Machines Corp. (NYSE:IBM) traded up 0.85% on Monday, hitting $164.52. 4,449,345 shares of the company traded hands. International Business Machines Corp. has a 1-year low of $116.90 and a 1-year high of $165.00. The firm’s 50 day moving average price is $155.55 and its 200 day moving average price is $155.73. The firm has a market capitalization of $156.43 billion, a PE ratio of 13.41 and a beta of 0.94.

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, topping analysts’ consensus estimates of $3.24 by $0.05. International Business Machines Corp. had a return on equity of 82.86% and a net margin of 14.75%. The firm had revenue of $19.23 billion for the quarter, compared to the consensus estimate of $19 billion. During the same quarter in the prior year, the business earned $3.34 earnings per share. The company’s revenue was down .3% compared to the same quarter last year. Equities research analysts predict that International Business Machines Corp. will post $13.50 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Stockholders of record on Thursday, November 10th will be paid a $1.40 dividend. The ex-dividend date is Tuesday, November 8th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.40%. International Business Machines Corp.’s payout ratio is 45.64%.

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A number of analysts have commented on IBM shares. Drexel Hamilton restated a “buy” rating and set a $186.00 price target on shares of International Business Machines Corp. in a research note on Monday, August 15th. Vetr upgraded shares of International Business Machines Corp. from a “hold” rating to a “buy” rating and set a $162.03 price target for the company in a research note on Wednesday, September 14th. Bank of America Corp. upgraded shares of International Business Machines Corp. from a “neutral” rating to a “buy” rating and boosted their price target for the company from $170.00 to $185.00 in a research note on Thursday, November 10th. Zacks Investment Research upgraded shares of International Business Machines Corp. from a “sell” rating to a “hold” rating in a research note on Monday, September 26th. Finally, Cantor Fitzgerald restated a “hold” rating and set a $162.00 price target on shares of International Business Machines Corp. in a research note on Monday, September 12th. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $156.04.

In other news, insider Robert J. Picciano sold 1,922 shares of the company’s stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $159.16, for a total value of $305,905.52. Following the sale, the insider now owns 35,861 shares in the company, valued at $5,707,636.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kralingen Bridget A. Van sold 2,107 shares of the company’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $162.44, for a total value of $342,261.08. Following the completion of the sale, the insider now owns 4,147 shares in the company, valued at approximately $673,638.68. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.

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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