HL Financial Services LLC trimmed its position in International Business Machines Corp. (NYSE:IBM) by 4.0% in the third quarter, Holdings Channel reports. The fund owned 412,921 shares of the technology company’s stock after selling 17,247 shares during the quarter. International Business Machines accounts for 1.2% of HL Financial Services LLC’s portfolio, making the stock its 26th largest holding. HL Financial Services LLC’s holdings in International Business Machines were worth $59,907,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Herndon Capital Management LLC increased 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 increased 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. ETF Managers Group LLC acquired a new stake in International Business Machines in the second quarter valued at $121,000. Peddock Capital Advisors LLC increased 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. Finally, Horan Securities Inc. increased 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. Institutional investors own 57.12% of the company’s stock.

Shares of International Business Machines Corp. (NYSE IBM) opened at $163.14 on Monday. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.41 and a quick ratio of 1.36. The company has a market capitalization of $151,033.61, a PE ratio of 13.63, a PEG ratio of 2.38 and a beta of 0.94. International Business Machines Corp. has a 12 month low of $139.13 and a 12 month high of $182.79.

International Business Machines (NYSE:IBM) last issued its earnings results on Tuesday, October 17th. The technology company reported $3.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.28 by $0.02. The company had revenue of $19.15 billion during the quarter, compared to the consensus estimate of $18.63 billion. International Business Machines had a return on equity of 68.68% and a net margin of 14.43%. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period last year, the business posted $3.29 EPS. analysts anticipate that International Business Machines Corp. will post 13.79 earnings per share for the current year.

A number of analysts recently weighed in on IBM shares. Cantor Fitzgerald restated a “hold” rating and issued a $154.00 price objective on shares of International Business Machines in a report on Friday, October 13th. Stifel Nicolaus reiterated a “buy” rating and set a $182.00 price target on shares of International Business Machines in a report on Friday, October 6th. Royal Bank of Canada reiterated a “hold” rating and set a $160.00 price target on shares of International Business Machines in a report on Wednesday, November 15th. Goldman Sachs Group set a $170.00 price target on International Business Machines and gave the stock a “neutral” rating in a report on Wednesday, October 18th. Finally, Vetr upgraded International Business Machines from a “buy” rating to a “strong-buy” rating and set a $173.45 price target for the company in a report on Wednesday, December 6th. Seven equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $159.90.

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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.

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

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