Commerce Bank Sells 21,244 Shares of International Business Machines Corp. (IBM)

Commerce Bank cut its position in shares of International Business Machines Corp. (NYSE:IBM) by 15.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 114,962 shares of the technology company’s stock after selling 21,244 shares during the quarter. Commerce Bank’s holdings in International Business Machines were worth $16,678,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in International Business Machines by 3.7% in the second quarter. Vanguard Group Inc. now owns 62,228,040 shares of the technology company’s stock valued at $9,572,538,000 after purchasing an additional 2,241,818 shares during the period. BlackRock Inc. grew its holdings in International Business Machines by 2.4% in the second quarter. BlackRock Inc. now owns 52,936,360 shares of the technology company’s stock valued at $8,143,204,000 after purchasing an additional 1,241,441 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in International Business Machines by 3.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 4,651,213 shares of the technology company’s stock valued at $715,497,000 after purchasing an additional 134,862 shares during the period. Swiss National Bank grew its holdings in International Business Machines by 2.9% in the second quarter. Swiss National Bank now owns 3,534,977 shares of the technology company’s stock valued at $543,786,000 after purchasing an additional 100,700 shares during the period. Finally, Nordea Investment Management AB grew its holdings in International Business Machines by 151.2% in the second quarter. Nordea Investment Management AB now owns 3,250,047 shares of the technology company’s stock valued at $499,955,000 after purchasing an additional 1,956,033 shares during the period. Institutional investors and hedge funds own 57.12% of the company’s stock.

International Business Machines Corp. (NYSE:IBM) opened at $162.37 on Friday. International Business Machines Corp. 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 $150,320.00, a price-to-earnings ratio of 13.55, a PEG ratio of 2.46 and a beta of 0.94.

International Business Machines (NYSE:IBM) last posted its earnings results on Thursday, January 18th. The technology company reported $5.18 EPS for the quarter, topping analysts’ consensus estimates of $5.17 by $0.01. International Business Machines had a net margin of 7.27% and a return on equity of 68.39%. The business had revenue of $22.54 billion for the quarter, compared to analysts’ expectations of $22.03 billion. During the same period in the previous year, the company posted $5.01 earnings per share. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. research analysts anticipate that International Business Machines Corp. will post 13.86 EPS for the current year.

IBM has been the subject of several research reports. ValuEngine upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Stifel Nicolaus reiterated a “buy” rating and set a $182.00 price objective on shares of International Business Machines in a research note on Friday, October 6th. Royal Bank of Canada reiterated a “hold” rating on shares of International Business Machines in a research note on Friday, October 13th. Cantor Fitzgerald reiterated a “hold” rating and set a $154.00 price objective on shares of International Business Machines in a research note on Friday, October 13th. Finally, Zacks Investment Research downgraded shares of International Business Machines from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Six analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $164.09.

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About International Business Machines

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 (NYSE:IBM)

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