Kanawha Capital Management LLC boosted its position in shares of International Business Machines Corporation (NYSE:IBM) by 1.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,237 shares of the technology company’s stock after acquiring an additional 555 shares during the period. Kanawha Capital Management LLC’s holdings in International Business Machines Corporation were worth $6,651,000 at the end of the most recent quarter.

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

Shares of International Business Machines Corporation (IBM) opened at 147.03 on Friday. The firm has a 50-day moving average of $145.11 and a 200 day moving average of $152.21. International Business Machines Corporation has a 52 week low of $139.13 and a 52 week high of $182.79. The firm has a market capitalization of $137.02 billion, a price-to-earnings ratio of 12.20 and a beta of 0.95.

International Business Machines Corporation (NYSE:IBM) last announced its 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. The company had revenue of $19.29 billion during the quarter, compared to the consensus estimate of $19.45 billion. International Business Machines Corporation had a net margin of 14.58% and a return on equity of 71.53%. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.95 earnings per share. On average, equities analysts predict that International Business Machines Corporation will post $13.77 earnings per share for the current fiscal year.

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A number of brokerages have recently commented on IBM. ValuEngine raised shares of International Business Machines Corporation from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Wedbush reaffirmed a “neutral” rating and set a $155.00 price objective on shares of International Business Machines Corporation in a research report on Wednesday, August 9th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $160.00 price objective on shares of International Business Machines Corporation in a research report on Friday, August 18th. Stifel Nicolaus reaffirmed a “buy” rating and set a $182.00 price objective on shares of International Business Machines Corporation in a research report on Friday, October 6th. Finally, Vetr lowered shares of International Business Machines Corporation from a “buy” rating to a “hold” rating and set a $150.68 price objective for the company. in a research report on Monday, August 7th. Seven research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have assigned a buy rating to the stock. International Business Machines Corporation has an average rating of “Hold” and a consensus price target of $157.12.

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.

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

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