Cim Investment Mangement Inc. cut its stake in shares of International Business Machines Co. (NYSE:IBM) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,722 shares of the technology company’s stock after selling 105 shares during the quarter. Cim Investment Mangement Inc.’s holdings in International Business Machines were worth $1,034,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Herndon Capital Management LLC boosted its stake in International Business Machines by 39.0% during the second quarter. Herndon Capital Management LLC now owns 695 shares of the technology company’s stock worth $107,000 after acquiring an additional 195 shares in the last quarter. Edge Wealth Management LLC boosted its stake in International Business Machines by 5.6% during the second quarter. Edge Wealth Management LLC now owns 760 shares of the technology company’s stock worth $117,000 after acquiring an additional 40 shares in the last quarter. Peddock Capital Advisors LLC boosted its stake in International Business Machines by 7.3% during the second quarter. Peddock Capital Advisors LLC now owns 912 shares of the technology company’s stock worth $140,000 after acquiring an additional 62 shares in the last quarter. Horan Securities Inc. boosted its stake in International Business Machines by 845.5% during the second quarter. Horan Securities Inc. now owns 936 shares of the technology company’s stock worth $144,000 after acquiring an additional 837 shares in the last quarter. Finally, Proficio Capital Partners LLC boosted its stake in International Business Machines by 85.1% during the first quarter. Proficio Capital Partners LLC now owns 959 shares of the technology company’s stock worth $146,000 after acquiring an additional 441 shares in the last quarter. 58.43% of the stock is currently owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: “Cim Investment Mangement Inc. Has $1.03 Million Stake in International Business Machines Co. (IBM)” was originally reported by Watch List News and is the property of of Watch List News. If you are viewing this report on another website, it was copied illegally and republished in violation of international trademark and copyright laws. The legal version of this report can be read at https://www.watchlistnews.com/cim-investment-mangement-inc-has-1-03-million-stake-in-international-business-machines-co-ibm/1716943.html.

International Business Machines Co. (NYSE IBM) opened at $150.51 on Tuesday. The firm has a market cap of $139,340.00, a PE ratio of 10.91, a PEG ratio of 2.18 and a beta of 0.94. 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 Co. has a 12 month low of $139.13 and a 12 month high of $182.79.

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, topping the consensus estimate of $3.28 by $0.02. The firm had revenue of $19.15 billion during the quarter, compared to the consensus estimate of $18.63 billion. International Business Machines had a net margin of 14.23% and a return on equity of 57.48%. The company’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the company earned $3.29 earnings per share. equities research analysts expect that International Business Machines Co. will post 13.8 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 9th. Stockholders of record on Friday, November 10th will be paid a $1.50 dividend. The ex-dividend date is Thursday, November 9th. This represents a $6.00 annualized dividend and a dividend yield of 3.99%. International Business Machines’s payout ratio is 50.08%.

Several research analysts recently issued reports on IBM shares. Vetr raised shares of International Business Machines from a “hold” rating to a “buy” rating and set a $150.68 target price on the stock in a research note on Monday, July 31st. ValuEngine raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Stifel Nicolaus reissued a “buy” rating and set a $182.00 target price on shares of International Business Machines in a research note on Friday, October 6th. Drexel Hamilton reissued a “buy” rating and set a $200.00 target price on shares of International Business Machines in a research note on Tuesday, October 17th. Finally, Pivotal Research started coverage on shares of International Business Machines in a research note on Friday, October 27th. They set a “buy” rating and a $180.00 target price on the stock. Eight equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. International Business Machines presently has an average rating of “Hold” and a consensus price target of $158.93.

International Business Machines Company 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.

Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Co. (NYSE:IBM).

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

Receive News & Ratings for International Business Machines Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Business Machines Co. and related companies with Analyst Ratings Network's FREE daily email newsletter.