Capital Asset Advisory Services LLC reduced its stake in International Business Machines Corp. (NYSE:IBM) by 0.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,554 shares of the technology company’s stock after selling 16 shares during the period. Capital Asset Advisory Services LLC’s holdings in International Business Machines Corp. were worth $793,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of IBM. Schmidt P J Investment Management Inc. acquired a new position in International Business Machines Corp. during the third quarter valued at $218,000. Beech Hill Advisors Inc. increased its position in International Business Machines Corp. by 44.9% in the third quarter. Beech Hill Advisors Inc. now owns 2,609 shares of the technology company’s stock valued at $414,000 after buying an additional 809 shares during the last quarter. Bridge Creek Capital Management LLC acquired a new position in International Business Machines Corp. during the third quarter valued at $1,146,000. Cambridge Advisors Inc. increased its position in International Business Machines Corp. by 0.4% in the third quarter. Cambridge Advisors Inc. now owns 6,100 shares of the technology company’s stock valued at $969,000 after buying an additional 25 shares during the last quarter. Finally, Cornerstone Advisors Inc. boosted its position in shares of International Business Machines Corp. by 132.4% in the third quarter. Cornerstone Advisors Inc. now owns 1,720 shares of the technology company’s stock valued at $273,000 after buying an additional 980 shares in the last quarter. Hedge funds and other institutional investors own 58.65% 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 up 0.514% during mid-day trading on Friday, reaching $151.555. 1,655,362 shares of the company traded hands. The stock has a market capitalization of $142.39 billion, a PE ratio of 12.463 and a beta of 0.96. International Business Machines Corp. has a 52 week low of $142.50 and a 52 week high of $182.79. The firm has a 50 day moving average of $162.25 and a 200-day moving average of $167.88.

International Business Machines Corp. (NYSE:IBM) last issued its earnings results on Tuesday, April 18th. The technology company reported $2.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.35 by $0.03. The company had revenue of $18.16 billion during the quarter, compared to analysts’ expectations of $18.37 billion. International Business Machines Corp. had a return on equity of 78.32% and a net margin of 14.85%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.35 EPS. On average, equities research analysts expect that International Business Machines Corp. will post $13.70 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 10th. Shareholders of record on Wednesday, May 10th will be issued a $1.50 dividend. This is a boost from International Business Machines Corp.’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a yield of 3.98%. The ex-dividend date of this dividend is Monday, May 8th. International Business Machines Corp.’s dividend payout ratio is presently 45.16%.

ILLEGAL ACTIVITY NOTICE: This piece was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece on another website, it was illegally stolen and republished in violation of United States and international copyright and trademark law. The legal version of this piece can be accessed at https://www.thecerbatgem.com/2017/05/19/capital-asset-advisory-services-llc-sells-16-shares-of-international-business-machines-corp-ibm-updated.html.

Several equities analysts recently commented on the stock. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of International Business Machines Corp. in a research note on Saturday, January 21st. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $150.00 price objective on shares of International Business Machines Corp. in a research note on Wednesday, April 19th. Goldman Sachs Group Inc dropped their target price on shares of International Business Machines Corp. from $175.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, April 19th. Wells Fargo & Co reiterated a “market perform” rating and set a $162.50 target price on shares of International Business Machines Corp. in a research report on Tuesday, April 25th. Finally, Pacific Crest began coverage on shares of International Business Machines Corp. in a research report on Thursday. They set an “equal weight” rating and a $151.35 target price for the company. Seven research analysts have rated the stock with a sell rating, sixteen have given a hold rating and six have assigned a buy rating to the company. International Business Machines Corp. has an average rating of “Hold” and an average target price of $165.19.

In related news, Director James W. Owens bought 1,718 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was bought at an average cost of $153.19 per share, for a total transaction of $263,180.42. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.08% of the stock is 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: 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.

5 Day Chart for NYSE:IBM

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