Nuveen Asset Management LLC cut its stake in shares of International Business Machines Corporation (NYSE:IBM) by 21.8% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 260,563 shares of the technology company’s stock after selling 72,548 shares during the period. Nuveen Asset Management LLC’s holdings in International Business Machines Corporation were worth $45,374,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IBM. Proficio Capital Partners LLC boosted its position in International Business Machines Corporation by 85.1% in the first quarter. Proficio Capital Partners LLC now owns 959 shares of the technology company’s stock valued at $146,000 after buying an additional 441 shares during the period. CKW Financial Group boosted its position in International Business Machines Corporation by 14.8% in the first quarter. CKW Financial Group now owns 938 shares of the technology company’s stock valued at $163,000 after buying an additional 121 shares during the period. Grisanti Capital Management LLC boosted its position in International Business Machines Corporation by 2.0% in the first quarter. Grisanti Capital Management LLC now owns 1,027 shares of the technology company’s stock valued at $179,000 after buying an additional 20 shares during the period. Capital Management Associates NY bought a new position in International Business Machines Corporation during the first quarter valued at $200,000. Finally, Chicago Equity Partners LLC bought a new position in International Business Machines Corporation during the first quarter valued at $207,000. Institutional investors own 58.57% of the company’s stock.

International Business Machines Corporation (NYSE IBM) traded down 0.71% during midday trading on Friday, hitting $139.70. 4,152,714 shares of the stock were exchanged. The company’s 50 day moving average is $147.30 and its 200 day moving average is $161.22. The company has a market capitalization of $130.19 billion, a P/E ratio of 11.59 and a beta of 0.97. International Business Machines Corporation has a 1-year low of $139.58 and a 1-year high of $182.79.

International Business Machines Corporation (NYSE:IBM) last issued its quarterly earnings data on Tuesday, July 18th. The technology company reported $2.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.74 by $0.23. International Business Machines Corporation had a return on equity of 71.53% and a net margin of 14.58%. The company had revenue of $19.29 billion during the quarter, compared to analyst estimates of $19.45 billion. During the same quarter in the previous year, the firm earned $2.95 earnings per share. International Business Machines Corporation’s revenue was down 4.7% on a year-over-year basis. Analysts predict that International Business Machines Corporation will post $13.77 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, September 9th. Stockholders of record on Thursday, August 10th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 4.29%. The ex-dividend date of this dividend is Tuesday, August 8th. International Business Machines Corporation’s payout ratio is 49.88%.

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Several research analysts have recently weighed in on the stock. Pacific Crest assumed coverage on shares of International Business Machines Corporation in a report on Thursday, May 18th. They issued an “equal weight” rating and a $151.35 price target for the company. Stifel Nicolaus reiterated a “buy” rating and issued a $182.00 price target on shares of International Business Machines Corporation in a report on Friday, July 21st. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $160.00 price target (down previously from $165.00) on shares of International Business Machines Corporation in a report on Saturday, July 22nd. Vetr raised shares of International Business Machines Corporation from a “sell” rating to a “hold” rating and set a $147.97 price objective on the stock in a research report on Monday, May 15th. Finally, Sanford C. Bernstein reissued a “market perform” rating and issued a $150.00 price objective on shares of International Business Machines Corporation in a research report on Wednesday, August 9th. Seven investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $157.40.

International Business Machines Corporation 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.

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

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