Lucus Advisors LLC Reduces Stake in International Business Machines Corp. (IBM)

Lucus Advisors LLC lowered its position in International Business Machines Corp. (NYSE:IBM) by 34.1% during the second quarter, Holdings Channel reports. The institutional investor owned 2,309 shares of the technology company’s stock after selling 1,193 shares during the period. Lucus Advisors LLC’s holdings in International Business Machines Corp. were worth $350,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Round Table Services LLC increased its position in International Business Machines Corp. by 0.4% in the second quarter. Round Table Services LLC now owns 1,620 shares of the technology company’s stock worth $246,000 after buying an additional 6 shares in the last quarter. Nadler Financial Group Inc. increased its position in International Business Machines Corp. by 0.4% in the second quarter. Nadler Financial Group Inc. now owns 2,243 shares of the technology company’s stock worth $340,000 after buying an additional 8 shares in the last quarter. Alpha Windward LLC increased its position in International Business Machines Corp. by 1.1% in the second quarter. Alpha Windward LLC now owns 1,324 shares of the technology company’s stock worth $201,000 after buying an additional 15 shares in the last quarter. Bremer Trust National Association increased its position in International Business Machines Corp. by 0.4% in the second quarter. Bremer Trust National Association now owns 6,063 shares of the technology company’s stock worth $921,000 after buying an additional 27 shares in the last quarter. Finally, Roberts Glore & Co. Inc. IL increased its position in International Business Machines Corp. by 1.3% in the first quarter. Roberts Glore & Co. Inc. IL now owns 2,194 shares of the technology company’s stock worth $332,000 after buying an additional 28 shares in the last quarter. 57.61% of the stock is currently owned by institutional investors.

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

Shares of International Business Machines Corp. (NYSE:IBM) traded up 0.47% during mid-day trading on Friday, hitting $154.45. The company’s stock had a trading volume of 4,358,197 shares. International Business Machines Corp. has a 1-year low of $116.90 and a 1-year high of $165.00. The stock has a market cap of $147.63 billion, a PE ratio of 12.56 and a beta of 0.88. The company has a 50-day moving average price of $156.85 and a 200-day moving average price of $154.25.

International Business Machines Corp. (NYSE:IBM) last released its earnings results on Monday, July 18th. The technology company reported $2.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.89 by $0.06. The firm had revenue of $20.20 billion for the quarter, compared to analysts’ expectations of $20.03 billion. International Business Machines Corp. had a net margin of 14.86% and a return on equity of 88.92%. The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the company earned $3.84 earnings per share. Analysts predict that International Business Machines Corp. will post $13.51 EPS for the current fiscal year.

A number of research firms have commented on IBM. Barclays PLC reaffirmed a “sell” rating on shares of International Business Machines Corp. in a report on Sunday, July 17th. Morgan Stanley reissued a “buy” rating and issued a $168.00 price target on shares of International Business Machines Corp. in a report on Sunday, July 17th. Cantor Fitzgerald reissued a “hold” rating on shares of International Business Machines Corp. in a report on Sunday, July 17th. Vetr downgraded International Business Machines Corp. from a “hold” rating to a “sell” rating and set a $150.47 price target on the stock. in a report on Monday, July 11th. Finally, Drexel Hamilton reissued a “buy” rating and issued a $166.00 price target on shares of International Business Machines Corp. in a report on Friday, July 15th. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $154.47.

In related news, insider Erich Clementi sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $160.28, for a total transaction of $961,680.00. Following the sale, the insider now directly owns 25,100 shares in the company, valued at approximately $4,023,028. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert J. Leblanc sold 15,708 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $162.25, for a total transaction of $2,548,623.00. Following the sale, the insider now owns 61,374 shares in the company, valued at $9,957,931.50. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

International Business Machines Corp. Company Profile

International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Global Technology Services (GTS), Global Business Services (GBS), Software, Systems Hardware and Global Financing. The Company’s GTS segment offers services, including strategic outsourcing, integrated technology services, cloud and technology support services (maintenance services).

5 Day Chart for NYSE:IBM

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