Kornitzer Capital Management Inc. KS grew its stake in International Business Machines Corporation (NYSE:IBM) by 8.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 171,597 shares of the technology company’s stock after acquiring an additional 12,900 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in International Business Machines Corporation were worth $26,397,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Horan Securities Inc. raised its stake in shares of International Business Machines Corporation by 845.5% during the second 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. Proficio Capital Partners LLC boosted its holdings in shares of International Business Machines Corporation by 85.1% in the first quarter. Proficio Capital Partners LLC now owns 959 shares of the technology company’s stock valued at $146,000 after purchasing an additional 441 shares during the period. CKW Financial Group boosted its holdings in shares of International Business Machines Corporation 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. Grisanti Capital Management LLC boosted its holdings in shares of International Business Machines Corporation by 2.0% in the first quarter. Grisanti Capital Management LLC now owns 1,027 shares of the technology company’s stock valued at $179,000 after purchasing an additional 20 shares during the period. Finally, Capital Management Associates NY bought a new position in International Business Machines Corporation in the first quarter worth approximately $200,000. 57.88% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Corporation (NYSE:IBM) opened at 145.08 on Monday. The firm has a market capitalization of $135.21 billion, a P/E ratio of 12.04 and a beta of 0.95. International Business Machines Corporation has a 52-week low of $139.13 and a 52-week high of $182.79. The company’s 50-day moving average is $143.19 and its 200-day moving average is $155.58.

International Business Machines Corporation (NYSE:IBM) last issued its quarterly earnings data on Tuesday, July 18th. The technology company reported $2.97 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.74 by $0.23. The company had revenue of $19.29 billion during the quarter, compared to analysts’ expectations of $19.45 billion. International Business Machines Corporation had a return on equity of 71.53% and a net margin of 14.58%. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.95 earnings per share. On average, analysts predict that International Business Machines Corporation will post $13.76 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Saturday, September 9th. Stockholders of record on Thursday, August 10th were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 4.14%. International Business Machines Corporation’s dividend payout ratio (DPR) is presently 49.88%.

Several equities research analysts have weighed in on the company. Stifel Nicolaus reiterated a “buy” rating and issued a $182.00 target price on shares of International Business Machines Corporation in a report on Friday, July 21st. BidaskClub upgraded International Business Machines Corporation from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. Vetr upgraded International Business Machines Corporation from a “sell” rating to a “hold” rating and set a $150.26 price target on the stock in a research note on Monday, July 3rd. ValuEngine lowered International Business Machines Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 15th. Finally, Credit Suisse Group restated an “underperform” rating and issued a $110.00 price objective (down from $125.00) on shares of International Business Machines Corporation in a report on Monday, July 17th. Seven investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $157.12.

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International Business Machines Corporation Profile

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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