Fort Point Capital Partners LLC reduced its position in shares of International Business Machines Corporation (NYSE:IBM) by 16.4% during the first quarter, Holdings Channel reports. The firm owned 1,270 shares of the technology company’s stock after selling 250 shares during the period. Fort Point Capital Partners LLC’s holdings in International Business Machines Corporation were worth $221,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Independence Advisors LLC raised its position in International Business Machines Corporation by 0.3% in the first quarter. Independence Advisors LLC now owns 1,937 shares of the technology company’s stock worth $337,000 after buying an additional 5 shares during the period. Jackson Grant Investment Advisers Inc. raised its position in International Business Machines Corporation by 0.8% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 737 shares of the technology company’s stock worth $122,000 after buying an additional 6 shares during the period. K.J. Harrison & Partners Inc raised its position in International Business Machines Corporation by 0.4% in the first quarter. K.J. Harrison & Partners Inc now owns 1,955 shares of the technology company’s stock worth $340,000 after buying an additional 7 shares during the period. Arthur M. Cohen & Associates LLC raised its position in International Business Machines Corporation by 0.5% in the first quarter. Arthur M. Cohen & Associates LLC now owns 1,362 shares of the technology company’s stock worth $237,000 after buying an additional 7 shares during the period. Finally, Financial & Investment Management Group Ltd. raised its position in International Business Machines Corporation by 0.6% in the first quarter. Financial & Investment Management Group Ltd. now owns 1,958 shares of the technology company’s stock worth $341,000 after buying an additional 12 shares during the period. 58.73% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Corporation (IBM) remained flat at $141.84 during trading on Friday. 3,004,360 shares of the stock were exchanged. The firm has a 50-day moving average of $149.20 and a 200 day moving average of $162.50. International Business Machines Corporation has a 1-year low of $141.19 and a 1-year high of $182.79. The stock has a market capitalization of $132.19 billion, a PE ratio of 11.77 and a beta of 0.97.

International Business Machines Corporation (NYSE:IBM) last posted its quarterly earnings results on Tuesday, July 18th. The technology company reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.74 by $0.23. The company had revenue of $19.29 billion for the quarter, compared to analyst estimates of $19.45 billion. International Business Machines Corporation had a return on equity of 71.53% and a net margin of 14.58%. International Business Machines Corporation’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.95 EPS. On average, equities research analysts expect that International Business Machines Corporation will post $13.74 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, September 9th. Shareholders of record on Thursday, August 10th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date is Tuesday, August 8th. International Business Machines Corporation’s dividend payout ratio is currently 49.88%.

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A number of research firms recently weighed in on IBM. Goldman Sachs Group, Inc. (The) cut their target price on shares of International Business Machines Corporation from $175.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, April 19th. Sanford C. Bernstein reissued a “market perform” rating and issued a $150.00 target price on shares of International Business Machines Corporation in a report on Wednesday, April 19th. UBS AG reissued a “neutral” rating and issued a $167.00 target price (down from $185.00) on shares of International Business Machines Corporation in a report on Saturday, April 22nd. Wells Fargo & Company reissued a “market perform” rating and issued a $162.50 target price on shares of International Business Machines Corporation in a report on Tuesday, April 25th. Finally, BidaskClub raised shares of International Business Machines Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Seven equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $157.40.

In related news, Director James W. Owens purchased 1,718 shares of International Business Machines Corporation stock in a transaction on Tuesday, May 16th. The shares were bought at an average price of $153.19 per share, with a total value of $263,180.42. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.23% of the stock is owned by company insiders.

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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