First Manhattan Co. reduced its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 15.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 680,135 shares of the technology company’s stock after selling 125,197 shares during the quarter. International Business Machines Corporation makes up 0.9% of First Manhattan Co.’s investment portfolio, making the stock its 24th biggest holding. First Manhattan Co. owned about 0.07% of International Business Machines Corporation worth $104,625,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Edge Wealth Management LLC lifted its holdings in shares of International Business Machines Corporation by 5.6% in the 2nd quarter. Edge Wealth Management LLC now owns 760 shares of the technology company’s stock valued at $117,000 after purchasing an additional 40 shares during the last quarter. Horan Securities Inc. lifted its holdings in shares of International Business Machines Corporation by 845.5% in the 2nd quarter. Horan Securities Inc. now owns 936 shares of the technology company’s stock valued at $144,000 after purchasing an additional 837 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in shares of International Business Machines Corporation by 85.1% in the 1st quarter. Proficio Capital Partners LLC now owns 959 shares of the technology company’s stock valued at $146,000 after purchasing an additional 441 shares during the last quarter. CKW Financial Group lifted its holdings in shares of International Business Machines Corporation by 14.8% in the 1st quarter. CKW Financial Group now owns 938 shares of the technology company’s stock valued at $163,000 after purchasing an additional 121 shares during the last quarter. Finally, Grisanti Capital Management LLC lifted its holdings in shares of International Business Machines Corporation by 2.0% in the 1st quarter. Grisanti Capital Management LLC now owns 1,027 shares of the technology company’s stock valued at $179,000 after purchasing an additional 20 shares during the last quarter. 57.88% of the stock is owned by institutional investors and hedge funds.

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Several analysts have recently weighed in on the company. Cleveland Research assumed coverage on International Business Machines Corporation in a report on Thursday, June 22nd. They issued a “neutral” rating for the company. Cantor Fitzgerald reaffirmed a “hold” rating and set a $154.00 price objective (down from $166.00) on shares of International Business Machines Corporation in a research note on Wednesday, July 19th. Argus reaffirmed a “buy” rating and set a $175.00 price objective (down from $192.00) on shares of International Business Machines Corporation in a research note on Friday, July 21st. UBS AG reaffirmed a “neutral” rating and set a $159.00 price objective (down from $167.00) on shares of International Business Machines Corporation in a research note on Saturday, July 22nd. Finally, Vetr raised International Business Machines Corporation from a “hold” rating to a “buy” rating and set a $150.68 price objective for the company in a research note on Monday, July 31st. Seven analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have issued a buy rating to the stock. International Business Machines Corporation presently has a consensus rating of “Hold” and an average target price of $157.12.

Shares of International Business Machines Corporation (NYSE:IBM) opened at 147.03 on Friday. The stock’s 50 day moving average price is $145.11 and its 200 day moving average price is $152.21. The firm has a market capitalization of $137.02 billion, a P/E ratio of 12.20 and a beta of 0.95. International Business Machines Corporation has a 52 week low of $139.13 and a 52 week high of $182.79.

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

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.

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

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