Cadence Capital Management LLC raised its stake in International Business Machines Corporation (NYSE:IBM) by 2.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 64,690 shares of the technology company’s stock after buying an additional 1,368 shares during the period. Cadence Capital Management LLC’s holdings in International Business Machines Corporation were worth $9,951,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of IBM. Herndon Capital Management LLC increased its holdings in International Business Machines Corporation 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 buying an additional 195 shares in the last quarter. Edge Wealth Management LLC increased its stake in shares of International Business Machines Corporation by 5.6% during the 2nd quarter. Edge Wealth Management LLC now owns 760 shares of the technology company’s stock worth $117,000 after purchasing an additional 40 shares in the last quarter. Peddock Capital Advisors LLC increased its stake in shares of International Business Machines Corporation by 7.3% during the 2nd quarter. Peddock Capital Advisors LLC now owns 912 shares of the technology company’s stock worth $140,000 after purchasing an additional 62 shares in the last quarter. Horan Securities Inc. increased its stake in shares of International Business Machines Corporation by 845.5% during the 2nd quarter. Horan Securities Inc. now owns 936 shares of the technology company’s stock worth $144,000 after purchasing an additional 837 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its stake in shares of International Business Machines Corporation by 85.1% during the 1st quarter. Proficio Capital Partners LLC now owns 959 shares of the technology company’s stock worth $146,000 after purchasing an additional 441 shares in the last quarter. 58.35% of the stock is owned by institutional investors.

A number of brokerages have recently weighed in on IBM. KeyCorp reissued a “hold” rating on shares of International Business Machines Corporation in a research note on Friday. Pivotal Research began coverage on shares of International Business Machines Corporation in a research note on Friday, October 27th. They set a “buy” rating and a $180.00 price objective for the company. Vetr raised shares of International Business Machines Corporation from a “hold” rating to a “buy” rating and set a $164.53 price objective for the company in a research note on Tuesday, October 24th. Berenberg Bank set a $125.00 price objective on shares of International Business Machines Corporation and gave the stock a “sell” rating in a research note on Wednesday, October 18th. Finally, Sanford C. Bernstein set a $150.00 price objective on shares of International Business Machines Corporation and gave the stock a “neutral” rating in a research note on Wednesday, October 18th. Eight investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $158.90.

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International Business Machines Corporation (NYSE:IBM) opened at $151.58 on Monday. International Business Machines Corporation has a 1-year low of $139.13 and a 1-year high of $182.79. 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 cap of $140,331.47, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 2.22 and a beta of 0.94.

International Business Machines Corporation (NYSE:IBM) last issued its quarterly earnings data on Tuesday, October 17th. The technology company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.28 by $0.02. International Business Machines Corporation had a net margin of 14.43% and a return on equity of 68.68%. The firm had revenue of $19.15 billion for the quarter, compared to analyst estimates of $18.63 billion. During the same quarter in the previous year, the business posted $3.29 EPS. The firm’s revenue was down .4% compared to the same quarter last year. equities analysts expect that International Business Machines Corporation will post 13.8 earnings per share for the current fiscal year.

International Business Machines Corporation declared that its Board of Directors has approved a share repurchase program on Tuesday, October 31st that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the technology company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 9th. Shareholders of record on Friday, November 10th will be issued a $1.50 dividend. The ex-dividend date is Thursday, November 9th. This represents a $6.00 dividend on an annualized basis and a yield of 3.96%. International Business Machines Corporation’s dividend payout ratio is currently 50.13%.

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.

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

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