Smith Moore & CO. decreased its position in shares of International Business Machines Corp. (NYSE:IBM) by 23.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 2,241 shares of the technology company’s stock after selling 676 shares during the period. Smith Moore & CO.’s holdings in International Business Machines were worth $325,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Herndon Capital Management LLC grew its stake in shares of International Business Machines by 39.0% in the 2nd quarter. Herndon Capital Management LLC now owns 695 shares of the technology company’s stock worth $107,000 after buying an additional 195 shares during the last quarter. Edge Wealth Management LLC lifted its position in International Business Machines by 5.6% in the 2nd quarter. Edge Wealth Management LLC now owns 760 shares of the technology company’s stock valued at $117,000 after acquiring an additional 40 shares in the last quarter. ETF Managers Group LLC bought a new position in International Business Machines in the 2nd quarter valued at approximately $121,000. Peddock Capital Advisors LLC lifted its position in International Business Machines by 7.3% in the 2nd quarter. Peddock Capital Advisors LLC now owns 912 shares of the technology company’s stock valued at $140,000 after acquiring an additional 62 shares in the last quarter. Finally, Horan Securities Inc. lifted its position in International Business Machines by 845.5% in the 2nd quarter. Horan Securities Inc. now owns 936 shares of the technology company’s stock valued at $144,000 after acquiring an additional 837 shares in the last quarter. Institutional investors own 57.11% of the company’s stock.

Several equities analysts recently issued reports on IBM shares. Drexel Hamilton reaffirmed a “buy” rating and issued a $200.00 price objective on shares of International Business Machines in a research report on Tuesday, October 17th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $182.00 price objective on shares of International Business Machines in a research report on Friday, October 6th. ValuEngine raised International Business Machines from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Vetr raised International Business Machines from a “hold” rating to a “buy” rating and set a $164.53 price objective on the stock in a research report on Tuesday, October 24th. Finally, Pivotal Research started coverage on International Business Machines in a research report on Friday, October 27th. They issued a “buy” rating and a $180.00 price objective on the stock. Seven investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have assigned a buy rating to the stock. International Business Machines presently has an average rating of “Hold” and an average price target of $160.01.

International Business Machines Corp. (NYSE:IBM) opened at $164.18 on Thursday. The firm has a market capitalization of $152,000.00, a price-to-earnings ratio of 13.70, a PEG ratio of 2.36 and a beta of 0.94. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.36 and a current ratio of 1.41. International Business Machines Corp. has a twelve month low of $139.13 and a twelve month high of $182.79.

International Business Machines (NYSE:IBM) last released its quarterly 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 for the quarter, compared to analysts’ expectations 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 revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.29 EPS. sell-side analysts predict that International Business Machines Corp. will post 13.78 earnings per share for the current fiscal year.

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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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