Klingenstein Fields & Co. LLC decreased its position in shares of International Business Machines Corporation (NYSE:IBM) by 1.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 38,711 shares of the technology company’s stock after selling 471 shares during the quarter. Klingenstein Fields & Co. LLC’s holdings in International Business Machines Corporation were worth $5,955,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Horan Securities Inc. grew 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 acquiring an additional 837 shares during the period. CKW Financial Group boosted its stake in International Business Machines Corporation by 14.8% in the 1st quarter. CKW Financial Group now owns 938 shares of the technology company’s stock worth $163,000 after purchasing an additional 121 shares during the period. Proficio Capital Partners LLC boosted its stake in International Business Machines Corporation by 85.1% in 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 during the period. Grisanti Capital Management LLC boosted its stake in International Business Machines Corporation by 2.0% in the 1st quarter. Grisanti Capital Management LLC now owns 1,027 shares of the technology company’s stock worth $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 1st quarter worth about $200,000. Institutional investors own 57.87% of the company’s stock.

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Several brokerages have commented on IBM. BidaskClub upgraded International Business Machines Corporation from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. Stifel Nicolaus restated a “buy” rating and issued a $182.00 target price on shares of International Business Machines Corporation in a research note on Friday, July 21st. Royal Bank Of Canada restated a “sector perform” rating and issued a $160.00 target price (down previously from $165.00) on shares of International Business Machines Corporation in a research note on Saturday, July 22nd. Morgan Stanley restated an “overweight” rating and issued a $192.00 target price on shares of International Business Machines Corporation in a research note on Wednesday, August 23rd. Finally, Vetr upgraded International Business Machines Corporation from a “sell” rating to a “hold” rating and set a $150.26 target price for the company in a research note on Monday, June 19th. Seven research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have given a buy rating to the company’s stock. International Business Machines Corporation currently has a consensus rating of “Hold” and an average price target of $157.12.

International Business Machines Corporation (NYSE:IBM) opened at 145.08 on Friday. The stock has a 50 day moving average price of $143.19 and a 200 day moving average price of $155.58. International Business Machines Corporation has a 1-year low of $139.13 and a 1-year high of $182.79. The stock has a market cap of $135.21 billion, a PE ratio of 12.04 and a beta of 0.97.

International Business Machines Corporation (NYSE:IBM) last posted its quarterly earnings data on Tuesday, July 18th. The technology company reported $2.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.74 by $0.23. The firm 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 business’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.95 EPS. On average, analysts predict that International Business Machines Corporation will post $13.76 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, September 9th. Stockholders of record on Thursday, August 10th were given a $1.50 dividend. 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 payout ratio is 49.88%.

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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