International Business Machines Corp. (IBM) Position Lowered by Summit Asset Management LLC

Summit Asset Management LLC cut its holdings in shares of International Business Machines Corp. (NYSE:IBM) by 7.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,050 shares of the technology company’s stock after selling 544 shares during the period. Summit Asset Management LLC’s holdings in International Business Machines were worth $1,082,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in IBM. Intact Investment Management Inc. boosted its position in International Business Machines by 5.8% in the second quarter. Intact Investment Management Inc. now owns 79,750 shares of the technology company’s stock worth $12,272,000 after purchasing an additional 4,400 shares during the last quarter. Chilton Investment Co. LLC lifted its position in shares of International Business Machines by 0.3% during the 2nd quarter. Chilton Investment Co. LLC now owns 12,392 shares of the technology company’s stock valued at $1,906,000 after buying an additional 40 shares in the last quarter. SNS Financial Group LLC lifted its position in shares of International Business Machines by 2.0% during the 2nd quarter. SNS Financial Group LLC now owns 8,135 shares of the technology company’s stock valued at $1,251,000 after buying an additional 158 shares in the last quarter. Flagship Harbor Advisors LLC lifted its position in shares of International Business Machines by 16.2% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 11,073 shares of the technology company’s stock valued at $1,700,000 after buying an additional 1,544 shares in the last quarter. Finally, Matrix Asset Advisors Inc. NY lifted its position in shares of International Business Machines by 5.3% during the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 18,035 shares of the technology company’s stock valued at $2,774,000 after buying an additional 903 shares in the last quarter. 57.02% of the stock is currently owned by institutional investors.

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A number of research analysts have recently weighed in on the company. BMO Capital Markets reaffirmed a “hold” rating and set a $175.00 price objective on shares of International Business Machines in a research report on Thursday, January 11th. They noted that the move was a valuation call. Zacks Investment Research raised International Business Machines from a “sell” rating to a “hold” rating in a research note on Wednesday, January 10th. Bank of America reissued a “buy” rating and set a $200.00 target price on shares of International Business Machines in a research note on Monday. Pivotal Research set a $180.00 target price on International Business Machines and gave the company a “buy” rating in a research note on Thursday, January 18th. Finally, JPMorgan Chase & Co. set a $167.00 target price on International Business Machines and gave the company a “neutral” rating in a research note on Friday, January 19th. Six research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the stock. International Business Machines currently has a consensus rating of “Hold” and a consensus target price of $166.01.

International Business Machines Corp. (NYSE:IBM) opened at $148.89 on Monday. International Business Machines Corp. has a 1-year low of $139.13 and a 1-year high of $176.33. The company has a current ratio of 1.33, a quick ratio of 1.29 and a debt-to-equity ratio of 2.25. The stock has a market capitalization of $137,152.69, a price-to-earnings ratio of 24.37, a P/E/G ratio of 2.18 and a beta of 0.94.

International Business Machines (NYSE:IBM) last issued its earnings results on Thursday, January 18th. The technology company reported $5.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $5.17 by $0.01. International Business Machines had a return on equity of 69.48% and a net margin of 7.27%. The business had revenue of $22.54 billion during the quarter, compared to analysts’ expectations of $22.03 billion. During the same period in the prior year, the business earned $5.01 EPS. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. equities analysts expect that International Business Machines Corp. will post 13.82 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Saturday, March 10th. Shareholders of record on Friday, February 9th were issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 4.03%. The ex-dividend date was Thursday, February 8th. International Business Machines’s dividend payout ratio is 98.20%.

In related news, Director Frederick H. Waddell purchased 610 shares of International Business Machines stock in a transaction dated Wednesday, January 31st. The stock was purchased at an average cost of $163.38 per share, with a total value of $99,661.80. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Diane J. Gherson sold 5,000 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $156.00, for a total value of $780,000.00. Following the completion of the transaction, the insider now directly owns 20,581 shares of the company’s stock, valued at $3,210,636. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by corporate insiders.

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International Business Machines Company 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.

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

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