Howard Capital Management reduced its stake in shares of International Business Machines Corporation (NYSE:IBM) by 2.2% during the second quarter, Holdings Channel reports. The firm owned 9,352 shares of the technology company’s stock after selling 210 shares during the period. Howard Capital Management’s holdings in International Business Machines Corporation were worth $1,439,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in IBM. Independence Advisors LLC raised its stake in shares of International Business Machines Corporation by 0.3% in the first quarter. Independence Advisors LLC now owns 1,937 shares of the technology company’s stock valued at $337,000 after buying an additional 5 shares during the period. K.J. Harrison & Partners Inc raised its stake in shares of International Business Machines Corporation by 0.4% in the first quarter. K.J. Harrison & Partners Inc now owns 1,955 shares of the technology company’s stock valued at $340,000 after buying an additional 7 shares during the period. Arthur M. Cohen & Associates LLC raised its stake in shares of International Business Machines Corporation by 0.5% in the first quarter. Arthur M. Cohen & Associates LLC now owns 1,362 shares of the technology company’s stock valued at $237,000 after buying an additional 7 shares during the period. Financial & Investment Management Group Ltd. raised its stake in shares of International Business Machines Corporation by 0.6% in the first quarter. Financial & Investment Management Group Ltd. now owns 1,958 shares of the technology company’s stock valued at $341,000 after buying an additional 12 shares during the period. Finally, Gilbert & Cook Inc. raised its stake in shares of International Business Machines Corporation by 0.6% in the first quarter. Gilbert & Cook Inc. now owns 2,151 shares of the technology company’s stock valued at $375,000 after buying an additional 12 shares during the period. Institutional investors and hedge funds own 58.57% of the company’s stock.

Shares of International Business Machines Corporation (IBM) traded up 0.40% on Wednesday, hitting $142.64. 1,656,126 shares of the company were exchanged. International Business Machines Corporation has a 52-week low of $140.58 and a 52-week high of $182.79. The company has a 50-day moving average price of $148.48 and a 200 day moving average price of $161.77. The firm has a market cap of $132.93 billion, a P/E ratio of 11.84 and a beta of 0.97.

International Business Machines Corporation (NYSE:IBM) last posted its quarterly earnings results on Tuesday, July 18th. The technology company reported $2.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.74 by $0.23. International Business Machines Corporation had a net margin of 14.58% and a return on equity of 71.53%. The firm had revenue of $19.29 billion for the quarter, compared to analyst estimates of $19.45 billion. During the same quarter last year, the firm posted $2.95 earnings per share. International Business Machines Corporation’s revenue for the quarter was down 4.7% compared to the same quarter last year. Analysts predict that International Business Machines Corporation will post $13.74 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, September 9th. Investors of record on Thursday, August 10th will be issued a $1.50 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $6.00 annualized dividend and a yield of 4.22%. International Business Machines Corporation’s payout ratio is 49.88%.

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Several analysts have recently issued reports on the stock. Sanford C. Bernstein reiterated a “market perform” rating and issued a $150.00 target price on shares of International Business Machines Corporation in a research report on Wednesday, April 19th. Goldman Sachs Group, Inc. (The) dropped their target price on shares of International Business Machines Corporation from $175.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 19th. UBS AG reiterated a “neutral” rating and issued a $167.00 target price (down previously from $185.00) on shares of International Business Machines Corporation in a research report on Saturday, April 22nd. Wells Fargo & Company reiterated a “market perform” rating and issued a $162.50 target price on shares of International Business Machines Corporation in a research report on Tuesday, April 25th. Finally, BidaskClub upgraded shares of International Business Machines Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Seven research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $157.40.

About International Business Machines Corporation

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.

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

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