Loudon Investment Management LLC reduced its stake in shares of International Business Machines Corporation (NYSE:IBM) by 0.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,384 shares of the technology company’s stock after selling 43 shares during the quarter. International Business Machines Corporation comprises approximately 1.6% of Loudon Investment Management LLC’s holdings, making the stock its 23rd largest position. Loudon Investment Management LLC’s holdings in International Business Machines Corporation were worth $2,059,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Whittier Trust Co. grew its holdings in shares of International Business Machines Corporation by 2.8% in the first quarter. Whittier Trust Co. now owns 81,156 shares of the technology company’s stock valued at $14,132,000 after purchasing an additional 2,210 shares in the last quarter. Hennessy Advisors Inc. grew its holdings in shares of International Business Machines Corporation by 6.0% in the first quarter. Hennessy Advisors Inc. now owns 80,841 shares of the technology company’s stock valued at $14,078,000 after purchasing an additional 4,541 shares in the last quarter. Callahan Advisors LLC grew its holdings in shares of International Business Machines Corporation by 7.7% in the first quarter. Callahan Advisors LLC now owns 2,695 shares of the technology company’s stock valued at $469,000 after purchasing an additional 192 shares in the last quarter. Investment Counselors of Maryland LLC grew its holdings in shares of International Business Machines Corporation by 2.8% in the first quarter. Investment Counselors of Maryland LLC now owns 11,062 shares of the technology company’s stock valued at $1,926,000 after purchasing an additional 300 shares in the last quarter. Finally, WealthTrust Axiom LLC grew its holdings in shares of International Business Machines Corporation by 2.0% in the first quarter. WealthTrust Axiom LLC now owns 48,705 shares of the technology company’s stock valued at $8,481,000 after purchasing an additional 964 shares in the last quarter. 57.88% of the stock is owned by institutional investors and hedge funds.

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

International Business Machines Corporation declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, October 31st that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the technology company to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Saturday, December 9th. Shareholders of record on Friday, November 10th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $6.00 annualized dividend and a dividend yield of 3.91%. International Business Machines Corporation’s dividend payout ratio (DPR) is currently 50.13%.

A number of research analysts recently weighed in on IBM shares. Stifel Nicolaus reissued a “buy” rating and issued a $182.00 target price on shares of International Business Machines Corporation in a report on Friday, July 21st. Cantor Fitzgerald reaffirmed a “hold” rating and set a $154.00 price objective on shares of International Business Machines Corporation in a research note on Friday, October 13th. BidaskClub raised shares of International Business Machines Corporation from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. Goldman Sachs Group, Inc. (The) set a $170.00 price objective on shares of International Business Machines Corporation and gave the stock a “neutral” rating in a research note on Wednesday, October 18th. Finally, ValuEngine lowered shares of International Business Machines Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 15th. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $158.90.

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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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