Steinberg Global Asset Management Sells 3,328 Shares of International Business Machines Corporation (IBM)

Steinberg Global Asset Management reduced its stake in shares of International Business Machines Corporation (NYSE:IBM) by 36.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 5,728 shares of the technology company’s stock after selling 3,328 shares during the period. Steinberg Global Asset Management’s holdings in International Business Machines Corporation were worth $881,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of IBM. Howe & Rusling Inc. increased its holdings in International Business Machines Corporation by 425.7% during the 1st quarter. Howe & Rusling Inc. now owns 46,770 shares of the technology company’s stock worth $8,145,000 after purchasing an additional 37,874 shares in the last quarter. Beese Fulmer Investment Management Inc. increased its holdings in International Business Machines Corporation by 1.4% during the 1st quarter. Beese Fulmer Investment Management Inc. now owns 24,836 shares of the technology company’s stock worth $4,325,000 after purchasing an additional 349 shares in the last quarter. Howland Capital Management LLC increased its holdings in International Business Machines Corporation by 0.3% during the 1st quarter. Howland Capital Management LLC now owns 15,335 shares of the technology company’s stock worth $2,670,000 after purchasing an additional 46 shares in the last quarter. Reilly Financial Advisors LLC increased its holdings in International Business Machines Corporation by 9.1% during the 1st quarter. Reilly Financial Advisors LLC now owns 1,551 shares of the technology company’s stock worth $270,000 after purchasing an additional 129 shares in the last quarter. Finally, Donald L. Hagan LLC increased its holdings in International Business Machines Corporation by 0.6% during the 1st quarter. Donald L. Hagan LLC now owns 5,590 shares of the technology company’s stock worth $973,000 after purchasing an additional 34 shares in the last quarter. 57.87% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have commented on IBM. BidaskClub raised International Business Machines Corporation from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. Stifel Nicolaus reissued a “buy” rating and set a $182.00 price objective on shares of International Business Machines Corporation in a report on Friday, July 21st. Royal Bank of Canada reissued a “sector perform” rating and set a $160.00 price objective (down from $165.00) on shares of International Business Machines Corporation in a report on Saturday, July 22nd. Morgan Stanley reissued an “overweight” rating and set a $192.00 price objective on shares of International Business Machines Corporation in a report on Wednesday, August 23rd. Finally, Vetr raised International Business Machines Corporation from a “sell” rating to a “hold” rating and set a $150.26 price objective for the company in a report on Monday, June 19th. Seven 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’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $157.12.

Shares of International Business Machines Corporation (IBM) opened at 144.39 on Wednesday. The firm’s 50 day moving average price is $143.19 and its 200 day moving average price is $155.58. The stock has a market cap of $134.56 billion, a P/E ratio of 11.98 and a beta of 0.97. International Business Machines Corporation has a 52-week low of $139.13 and a 52-week high of $182.79.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.74 by $0.23. International Business Machines Corporation had a net margin of 14.58% and a return on equity of 71.53%. The firm had revenue of $19.29 billion during the quarter, compared to the consensus estimate of $19.45 billion. During the same quarter in the previous year, the firm posted $2.95 EPS. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. On average, analysts expect that International Business Machines Corporation will post $13.76 EPS for the current 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 dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date of this dividend was Tuesday, August 8th. International Business Machines Corporation’s payout ratio is 49.88%.

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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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