Broderick Brian C lowered its position in shares of International Business Machines Corp. (NYSE:IBM) by 5.4% during the second quarter, Holdings Channel reports. The fund owned 10,585 shares of the technology company’s stock after selling 610 shares during the period. Broderick Brian C’s holdings in International Business Machines Corp. were worth $1,605,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in IBM. State Street Corp raised its position in International Business Machines Corp. by 2.5% in the first quarter. State Street Corp now owns 50,852,184 shares of the technology company’s stock valued at $7,701,559,000 after buying an additional 1,230,826 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in International Business Machines Corp. by 0.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 23,262,068 shares of the technology company’s stock valued at $3,523,040,000 after buying an additional 62,326 shares during the period. BlackRock Fund Advisors raised its position in International Business Machines Corp. by 10.0% in the first quarter. BlackRock Fund Advisors now owns 12,645,562 shares of the technology company’s stock valued at $1,915,170,000 after buying an additional 1,154,028 shares during the period. BlackRock Group LTD raised its position in International Business Machines Corp. by 1.0% in the first quarter. BlackRock Group LTD now owns 7,444,327 shares of the technology company’s stock valued at $1,127,444,000 after buying an additional 74,181 shares during the period. Finally, Legal & General Group Plc raised its position in International Business Machines Corp. by 2.2% in the first quarter. Legal & General Group Plc now owns 4,564,926 shares of the technology company’s stock valued at $691,352,000 after buying an additional 98,130 shares during the period. 57.61% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Corp. (NYSE:IBM) traded up 0.4015% during mid-day trading on Wednesday, hitting $155.0701. 1,721,949 shares of the company were exchanged. The company has a market capitalization of $148.22 billion, a P/E ratio of 12.6104 and a beta of 0.77. International Business Machines Corp. has a 12-month low of $116.90 and a 12-month high of $164.95. The company’s 50-day moving average is $159.40 and its 200 day moving average is $152.93.

International Business Machines Corp. (NYSE:IBM) last posted its quarterly earnings results on Monday, July 18th. The technology company reported $2.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.89 by $0.06. The business had revenue of $20.20 billion for the quarter, compared to analyst estimates of $20.03 billion. International Business Machines Corp. had a net margin of 14.86% and a return on equity of 88.92%. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter last year, the business posted $3.84 EPS. Analysts expect that International Business Machines Corp. will post $13.51 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Saturday, September 10th. Investors of record on Wednesday, August 10th were given a dividend of $1.40 per share. The ex-dividend date was Monday, August 8th. This represents a $5.60 annualized dividend and a dividend yield of 3.63%. International Business Machines Corp.’s dividend payout ratio is 45.53%.

IBM has been the topic of a number of recent analyst reports. Vetr lowered International Business Machines Corp. from a “hold” rating to a “sell” rating and set a $150.47 price objective on the stock. in a research note on Monday, July 11th. Barclays PLC reiterated a “sell” rating on shares of International Business Machines Corp. in a research note on Sunday, July 17th. Morgan Stanley reiterated a “buy” rating and issued a $168.00 price objective on shares of International Business Machines Corp. in a research note on Sunday, July 17th. Cantor Fitzgerald reiterated a “hold” rating on shares of International Business Machines Corp. in a research note on Sunday, July 17th. Finally, Credit Suisse Group AG reiterated an “underperform” rating and issued a $110.00 price objective on shares of International Business Machines Corp. in a research note on Saturday, September 3rd. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the stock. International Business Machines Corp. has an average rating of “Hold” and an average price target of $153.22.

In other International Business Machines Corp. news, insider Robert J. Picciano sold 1,922 shares of the firm’s stock in a transaction that occurred on Wednesday, August 31st. The shares were sold at an average price of $159.16, for a total value of $305,905.52. Following the sale, the insider now owns 35,861 shares in the company, valued at $5,707,636.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Erich Clementi sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $160.28, for a total transaction of $961,680.00. Following the completion of the sale, the insider now owns 25,100 shares in the company, valued at approximately $4,023,028. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

About International Business Machines Corp.

International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Global Technology Services (GTS), Global Business Services (GBS), Software, Systems Hardware and Global Financing. The Company’s GTS segment offers services, including strategic outsourcing, integrated technology services, cloud and technology support services (maintenance services).

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