Kornitzer Capital Management Inc. KS cut its position in International Business Machines Corp. (NYSE:IBM) by 1.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 169,265 shares of the technology company’s stock after selling 2,332 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in International Business Machines were worth $24,557,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Herndon Capital Management LLC boosted its position in International Business Machines by 39.0% during the second quarter. Herndon Capital Management LLC now owns 695 shares of the technology company’s stock worth $107,000 after purchasing an additional 195 shares during the period. Edge Wealth Management LLC boosted its position in International Business Machines by 5.6% during the second quarter. Edge Wealth Management LLC now owns 760 shares of the technology company’s stock worth $117,000 after purchasing an additional 40 shares during the period. ETF Managers Group LLC bought a new position in International Business Machines during the second quarter worth $121,000. Peddock Capital Advisors LLC boosted its position in International Business Machines by 7.3% during the second quarter. Peddock Capital Advisors LLC now owns 912 shares of the technology company’s stock worth $140,000 after purchasing an additional 62 shares during the period. Finally, Horan Securities Inc. grew its position in International Business Machines by 845.5% in 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 during the last quarter. 57.11% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have issued reports on IBM shares. Drexel Hamilton reiterated a “buy” rating and issued a $200.00 target price on shares of International Business Machines in a research report on Tuesday, October 17th. Stifel Nicolaus reiterated a “buy” rating and issued a $182.00 target price on shares of International Business Machines in a research report on Friday, October 6th. ValuEngine upgraded International Business Machines from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Vetr upgraded International Business Machines from a “hold” rating to a “buy” rating and set a $164.53 target price 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 target price on the stock. Eight research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $160.01.

Shares of International Business Machines Corp. (NYSE IBM) opened at $162.49 on Friday. The firm has a market capitalization of $150,430.00, a PE ratio of 13.56, a PEG ratio of 2.35 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, topping the Thomson Reuters’ consensus estimate of $3.28 by $0.02. The company 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 business’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the business posted $3.29 earnings per share. research analysts anticipate that International Business Machines Corp. will post 13.78 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Saturday, December 9th. Stockholders of record on Friday, November 10th were issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 3.69%. The ex-dividend date was Thursday, November 9th. International Business Machines’s dividend payout ratio (DPR) is currently 50.08%.

ILLEGAL ACTIVITY WARNING: This article was first published by Watch List News and is owned by of Watch List News. If you are reading this article on another website, it was illegally stolen and reposted in violation of international trademark & copyright laws. The legal version of this article can be accessed at https://www.watchlistnews.com/kornitzer-capital-management-inc-ks-has-24-56-million-position-in-international-business-machines-corp-ibm/1797747.html.

International Business Machines 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.

Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Corp. (NYSE:IBM).

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

Receive News & Ratings for International Business Machines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Business Machines and related companies with Analyst Ratings Network's FREE daily email newsletter.