Dai Ichi Life Insurance Company Ltd cut its position in International Business Machines Corporation (NYSE:IBM) by 36.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,361 shares of the technology company’s stock after selling 53,100 shares during the quarter. Dai Ichi Life Insurance Company Ltd’s holdings in International Business Machines were worth $14,208,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Herndon Capital Management LLC boosted its holdings in International Business Machines by 39.0% in the second quarter. Herndon Capital Management LLC now owns 695 shares of the technology company’s stock valued at $107,000 after purchasing an additional 195 shares during the period. Edge Wealth Management LLC boosted its holdings in International Business Machines by 5.6% in the second quarter. Edge Wealth Management LLC now owns 760 shares of the technology company’s stock valued at $117,000 after purchasing an additional 40 shares during the period. Peddock Capital Advisors LLC boosted its holdings in International Business Machines by 7.3% in the second quarter. Peddock Capital Advisors LLC now owns 912 shares of the technology company’s stock valued at $140,000 after purchasing an additional 62 shares during the period. Horan Securities Inc. boosted its holdings in International Business Machines by 845.5% in the second quarter. Horan Securities Inc. now owns 936 shares of the technology company’s stock valued at $144,000 after purchasing an additional 837 shares during the period. Finally, CKW Financial Group boosted its holdings in International Business Machines by 14.8% in the first quarter. CKW Financial Group now owns 938 shares of the technology company’s stock valued at $163,000 after purchasing an additional 121 shares during the period. Hedge funds and other institutional investors own 57.26% of the company’s stock.

Shares of International Business Machines Corporation (IBM) traded up $1.70 during trading hours on Tuesday, hitting $156.46. The stock had a trading volume of 4,664,300 shares, compared to its average volume of 4,260,333. The stock has a market cap of $143,275.48, a price-to-earnings ratio of 11.33, a price-to-earnings-growth ratio of 2.27 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 Corporation has a fifty-two week low of $139.13 and a fifty-two week high of $182.79.

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

The company also recently declared a quarterly dividend, which will be paid on Saturday, December 9th. Stockholders of record on Friday, November 10th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 3.83%. The ex-dividend date of this dividend is Thursday, November 9th. International Business Machines’s dividend payout ratio (DPR) is 50.13%.

A number of research firms recently issued reports on IBM. Wedbush reiterated a “neutral” rating and issued a $155.00 target price on shares of International Business Machines in a report on Wednesday, August 9th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $150.00 price target on shares of International Business Machines in a report on Wednesday, August 9th. Vetr downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $150.68 price target for the company. in a report on Monday, August 7th. Morgan Stanley reaffirmed an “overweight” rating and set a $192.00 price target on shares of International Business Machines in a report on Wednesday, August 23rd. Finally, ValuEngine raised International Business Machines from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Eight investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $159.12.

ILLEGAL ACTIVITY WARNING: This piece of content was first published by Watch List News and is the property of of Watch List News. If you are viewing this piece of content on another site, it was copied illegally and reposted in violation of US and international copyright laws. The legal version of this piece of content can be read at https://www.watchlistnews.com/dai-ichi-life-insurance-company-ltd-reduces-stake-in-international-business-machines-corporation-ibm/1745261.html.

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.

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 Corporation (NYSE:IBM).

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

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