Tower Bridge Advisors decreased its position in International Business Machines Corporation (NYSE:IBM) by 3.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,828 shares of the technology company’s stock after selling 1,600 shares during the period. Tower Bridge Advisors’ holdings in International Business Machines Corporation were worth $6,127,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. K.J. Harrison & Partners Inc boosted its holdings in 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 acquiring an additional 7 shares during the last quarter. Arthur M. Cohen & Associates LLC boosted its holdings in 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 acquiring an additional 7 shares during the last quarter. Gilbert & Cook Inc. boosted its holdings in 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 acquiring an additional 12 shares during the last quarter. BSW Wealth Partners boosted its holdings in International Business Machines Corporation by 0.4% in the first quarter. BSW Wealth Partners now owns 3,992 shares of the technology company’s stock valued at $695,000 after acquiring an additional 14 shares during the last quarter. Finally, Gilman Hill Asset Management LLC boosted its holdings in International Business Machines Corporation by 0.4% in the first quarter. Gilman Hill Asset Management LLC now owns 3,767 shares of the technology company’s stock valued at $656,000 after acquiring an additional 15 shares during the last quarter. Institutional investors and hedge funds own 57.94% of the company’s stock.

Shares of International Business Machines Corporation (IBM) opened at 144.82 on Friday. The company has a 50-day moving average price of $143.19 and a 200-day moving average price of $156.45. The firm has a market cap of $134.96 billion, a price-to-earnings ratio of 12.02 and a beta of 0.97. International Business Machines Corporation has a 12 month low of $139.13 and a 12 month high of $182.79.

International Business Machines Corporation (NYSE:IBM) last announced its quarterly earnings results on Tuesday, July 18th. The technology company reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.74 by $0.23. The business had revenue of $19.29 billion for the quarter, compared to analyst estimates of $19.45 billion. International Business Machines Corporation had a return on equity of 71.53% and a net margin of 14.58%. The company’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.95 earnings per share. Analysts forecast that International Business Machines Corporation will post $13.76 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Saturday, September 9th. Shareholders of record on Thursday, August 10th were issued a $1.50 dividend. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $6.00 annualized dividend and a yield of 4.14%. International Business Machines Corporation’s payout ratio is currently 49.88%.

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IBM has been the topic of several recent research reports. 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. BidaskClub upgraded International Business Machines Corporation from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. Vetr upgraded International Business Machines Corporation from a “sell” rating to a “hold” rating and set a $150.26 price target on the stock in a report on Monday, July 3rd. Credit Suisse Group reiterated an “underperform” rating and issued a $110.00 price target (down previously from $125.00) on shares of International Business Machines Corporation in a report on Monday, July 17th. Finally, Drexel Hamilton reiterated a “buy” rating and issued a $200.00 price target on shares of International Business Machines Corporation in a report on Tuesday, July 18th. Seven research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $157.12.

International Business Machines Corporation 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.

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

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