Eagle Asset Management Inc. Sells 10,711 Shares of International Business Machines Corporation (IBM)

Eagle Asset Management Inc. reduced its position in shares of International Business Machines Corporation (NYSE:IBM) by 51.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,951 shares of the technology company’s stock after selling 10,711 shares during the period. Eagle Asset Management Inc.’s holdings in International Business Machines were worth $1,530,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Herndon Capital Management LLC raised its stake in International Business Machines by 39.0% in the second quarter. Herndon Capital Management LLC now owns 695 shares of the technology company’s stock valued at $107,000 after buying an additional 195 shares during the period. Edge Wealth Management LLC raised its stake in International Business Machines by 5.6% in the second quarter. Edge Wealth Management LLC now owns 760 shares of the technology company’s stock valued at $117,000 after buying an additional 40 shares during the period. Peddock Capital Advisors LLC raised its stake in International Business Machines by 7.3% in the second quarter. Peddock Capital Advisors LLC now owns 912 shares of the technology company’s stock valued at $140,000 after buying an additional 62 shares during the period. Horan Securities Inc. raised its stake 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 buying an additional 837 shares during the period. Finally, Proficio Capital Partners LLC raised its stake in International Business Machines by 85.1% in the first quarter. Proficio Capital Partners LLC now owns 959 shares of the technology company’s stock valued at $146,000 after buying an additional 441 shares during the period. 57.26% of the stock is owned by institutional investors.

Several analysts have issued reports on IBM shares. Vetr upgraded International Business Machines from a “hold” rating to a “buy” rating and set a $150.93 price objective on the stock in a research note on Thursday, August 24th. Stifel Nicolaus restated a “buy” rating and issued a $182.00 price objective on shares of International Business Machines in a research note on Friday, October 6th. ValuEngine upgraded International Business Machines from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Drexel Hamilton reiterated a “buy” rating and set a $200.00 target price on shares of International Business Machines in a research note on Tuesday, October 17th. Finally, Pivotal Research initiated coverage on International Business Machines in a research note on Friday, October 27th. They set a “buy” rating and a $180.00 target price on the stock. Eight equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. International Business Machines has an average rating of “Hold” and a consensus price target of $159.24.

International Business Machines Corporation (IBM) traded down $0.53 during trading on Thursday, reaching $153.57. The company’s stock had a trading volume of 3,771,429 shares, compared to its average volume of 4,258,083. International Business Machines Corporation has a 12-month low of $139.13 and a 12-month high of $182.79. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.36 and a current ratio of 1.41. The company has a market cap of $143,821.70, a price-to-earnings ratio of 11.37, a PEG ratio of 2.27 and a beta of 0.94.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Tuesday, October 17th. The technology company reported $3.30 EPS for the quarter, topping the Zacks’ consensus estimate of $3.28 by $0.02. The firm had revenue of $19.15 billion for the quarter, compared to analyst estimates of $18.63 billion. International Business Machines had a return on equity of 68.68% and a net margin of 14.43%. The company’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the company earned $3.29 EPS. equities analysts expect that International Business Machines Corporation will post 13.8 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 9th. Shareholders of record on Friday, November 10th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend is Thursday, November 9th. International Business Machines’s dividend payout ratio is presently 50.13%.

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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.

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

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