Acadian Asset Management LLC reduced its position in International Business Machines Corporation (NYSE:IBM) by 35.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,145 shares of the technology company’s stock after selling 13,342 shares during the quarter. Acadian Asset Management LLC’s holdings in International Business Machines Corporation were worth $3,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Pinnacle Bank purchased a new stake in International Business Machines Corporation in the first quarter worth $1,416,000. SeaBridge Investment Advisors LLC increased its position in International Business Machines Corporation by 18.9% in the second quarter. SeaBridge Investment Advisors LLC now owns 76,818 shares of the technology company’s stock worth $11,817,000 after buying an additional 12,236 shares during the last quarter. SOL Capital Management CO increased its position in International Business Machines Corporation by 0.6% in the second quarter. SOL Capital Management CO now owns 7,588 shares of the technology company’s stock worth $1,167,000 after buying an additional 45 shares during the last quarter. Intellectus Partners LLC increased its position in International Business Machines Corporation by 9.8% in the first quarter. Intellectus Partners LLC now owns 16,817 shares of the technology company’s stock worth $2,929,000 after buying an additional 1,496 shares during the last quarter. Finally, CKW Financial Group increased 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 worth $163,000 after buying an additional 121 shares during the last quarter. 57.94% of the stock is owned by institutional investors and hedge funds.

A number of analysts have issued reports on IBM shares. Stifel Nicolaus decreased their target price on International Business Machines Corporation from $192.00 to $182.00 and set a “buy” rating for the company in a research report on Wednesday, May 24th. Vetr raised International Business Machines Corporation from a “hold” rating to a “buy” rating and set a $159.56 target price for the company in a research report on Monday, July 10th. Drexel Hamilton reissued a “buy” rating and issued a $200.00 target price on shares of International Business Machines Corporation in a research report on Tuesday, July 18th. Standpoint Research raised International Business Machines Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Finally, Argus reissued a “buy” rating and issued a $175.00 target price (down from $192.00) on shares of International Business Machines Corporation in a research report on Friday, July 21st. Seven analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $157.12.

International Business Machines Corporation (NYSE:IBM) traded down 0.24% during midday trading on Friday, reaching $142.56. The company’s stock had a trading volume of 1,926,692 shares. The firm has a market cap of $132.86 billion, a P/E ratio of 11.83 and a beta of 0.97. International Business Machines Corporation has a one year low of $139.13 and a one year high of $182.79. The firm has a 50 day moving average price of $143.42 and a 200 day moving average price of $157.82.

International Business Machines Corporation (NYSE:IBM) last announced its quarterly earnings results on Tuesday, July 18th. The technology company reported $2.97 EPS for the quarter, beating the Zacks’ 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 during the quarter, compared to the consensus estimate of $19.45 billion. During the same quarter last year, the firm earned $2.95 EPS. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. Equities research analysts forecast that International Business Machines Corporation will post $13.77 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. This represents a $6.00 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date is Tuesday, August 8th. International Business Machines Corporation’s payout ratio is 49.88%.

WARNING: This news story was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this news story on another site, it was illegally copied and reposted in violation of US and international trademark & copyright laws. The correct version of this news story can be viewed at https://www.thecerbatgem.com/2017/09/08/acadian-asset-management-llc-sells-13342-shares-of-international-business-machines-corporation-ibm.html.

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.

Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Corporation (NYSE:IBM).

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

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