Arrow Financial Corp reduced its stake in shares of International Business Machines Corporation (NYSE:IBM) by 12.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 19,935 shares of the technology company’s stock after selling 2,883 shares during the period. Arrow Financial Corp’s holdings in International Business Machines Corporation were worth $3,066,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. SeaBridge Investment Advisors LLC boosted its holdings in International Business Machines Corporation by 18.9% in the 2nd quarter. SeaBridge Investment Advisors LLC now owns 76,818 shares of the technology company’s stock worth $11,817,000 after buying an additional 12,236 shares during the period. Intellectus Partners LLC boosted its holdings in International Business Machines Corporation by 9.8% in the 1st quarter. Intellectus Partners LLC now owns 16,817 shares of the technology company’s stock worth $2,929,000 after buying an additional 1,496 shares during the period. CKW Financial Group boosted its holdings in International Business Machines Corporation by 14.8% in 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 period. Argus Investors Counsel Inc. boosted its holdings in International Business Machines Corporation by 10.9% in the 2nd quarter. Argus Investors Counsel Inc. now owns 26,876 shares of the technology company’s stock worth $4,134,000 after buying an additional 2,651 shares during the period. Finally, SOL Capital Management CO boosted its holdings in International Business Machines Corporation by 0.6% in the 2nd quarter. SOL Capital Management CO now owns 7,588 shares of the technology company’s stock worth $1,167,000 after buying an additional 45 shares during the period. 57.84% of the stock is owned by hedge funds and other institutional investors.

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International Business Machines Corporation (NYSE:IBM) opened at 162.07 on Friday. The firm has a 50 day moving average of $146.97 and a 200-day moving average of $151.34. International Business Machines Corporation has a 52-week low of $139.13 and a 52-week high of $182.79. The company has a market capitalization of $151.04 billion, a price-to-earnings ratio of 13.45 and a beta of 0.95.

International Business Machines Corporation (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 consensus estimate of $3.28 by $0.02. The firm had revenue of $19.15 billion during the quarter, compared to analyst estimates of $18.63 billion. International Business Machines Corporation had a net margin of 14.43% and a return on equity of 68.68%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.29 EPS. Equities analysts expect that International Business Machines Corporation will post $13.81 EPS for the current year.

Several research firms recently commented on IBM. Berenberg Bank set a $125.00 price objective on shares of International Business Machines Corporation and gave the stock a “sell” rating in a report on Wednesday. Vetr downgraded shares of International Business Machines Corporation from a “buy” rating to a “hold” rating and set a $160.68 price objective for the company. in a report on Thursday. Sanford C. Bernstein set a $150.00 price target on shares of International Business Machines Corporation and gave the company a “neutral” rating in a report on Wednesday. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of International Business Machines Corporation in a report on Wednesday. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $182.00 price target on shares of International Business Machines Corporation in a report on Wednesday. Eight 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’s stock. The stock presently has an average rating of “Hold” and an average price target of $157.90.

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.

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

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