Bank of Nova Scotia Trust Co. lowered its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 24.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,695 shares of the technology company’s stock after selling 550 shares during the period. Bank of Nova Scotia Trust Co.’s holdings in International Business Machines were worth $261,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of IBM. Herndon Capital Management LLC raised its position in International Business Machines by 39.0% during the 2nd quarter. Herndon Capital Management LLC now owns 695 shares of the technology company’s stock worth $107,000 after buying an additional 195 shares during the last quarter. Edge Wealth Management LLC raised its position in International Business Machines 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 buying an additional 40 shares during the last quarter. Peddock Capital Advisors LLC raised its position in International Business Machines by 7.3% during the 2nd quarter. Peddock Capital Advisors LLC now owns 912 shares of the technology company’s stock worth $140,000 after buying an additional 62 shares during the last quarter. Horan Securities Inc. raised its position in International Business Machines by 845.5% during the 2nd quarter. Horan Securities Inc. now owns 936 shares of the technology company’s stock worth $144,000 after buying an additional 837 shares during the last quarter. Finally, CKW Financial Group raised its position in International Business Machines by 14.8% during the 1st 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. Hedge funds and other institutional investors own 57.26% of the company’s stock.

International Business Machines Corporation (NYSE:IBM) traded up $0.80 during trading hours on Monday, reaching $155.61. 1,299,210 shares of the company’s stock traded hands, compared to its average volume of 4,254,970. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.41 and a quick ratio of 1.36. International Business Machines Corporation has a 52-week low of $139.13 and a 52-week high of $182.79. The stock has a market cap of $143,321.77, a P/E ratio of 11.33, a P/E/G ratio of 2.27 and a beta of 0.94.

International Business Machines (NYSE:IBM) last posted its earnings results on Tuesday, October 17th. The technology company reported $3.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.28 by $0.02. International Business Machines had a net margin of 14.43% and a return on equity of 68.68%. The firm had revenue of $19.15 billion during the quarter, compared to the consensus estimate of $18.63 billion. During the same period last year, the firm posted $3.29 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. sell-side analysts predict that International Business Machines Corporation will post 13.8 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Saturday, December 9th. Shareholders of record on Friday, November 10th were issued a dividend of $1.50 per share. The ex-dividend date was Thursday, November 9th. This represents a $6.00 annualized dividend and a yield of 3.86%. International Business Machines’s dividend payout ratio (DPR) is currently 50.13%.

A number of equities analysts have commented on IBM shares. Royal Bank Of Canada restated a “sector perform” rating and set a $160.00 price objective on shares of International Business Machines in a research report on Friday, August 18th. Vetr downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $146.52 price objective for the company. in a research report on Tuesday, August 22nd. Morgan Stanley reiterated an “overweight” rating and issued a $192.00 price target on shares of International Business Machines in a report on Wednesday, August 23rd. BidaskClub upgraded shares of International Business Machines from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. Finally, UBS reiterated a “hold” rating and issued a $152.00 price target on shares of International Business Machines in a report on Tuesday, September 5th. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $159.24.

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About International Business Machines

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 (NYSE:IBM)

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