APG Asset Management N.V. lowered its holdings in International Business Machines Co. (NYSE:IBM) by 37.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 489,508 shares of the technology company’s stock after selling 298,891 shares during the quarter. APG Asset Management N.V.’s holdings in International Business Machines were worth $60,508,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. AGF Investments LLC boosted its holdings in shares of International Business Machines by 369.1% in the first quarter. AGF Investments LLC now owns 258 shares of the technology company’s stock worth $34,000 after buying an additional 203 shares during the period. Samalin Investment Counsel LLC acquired a new stake in shares of International Business Machines during the second quarter worth approximately $42,000. Sumitomo Mitsui Financial Group Inc. acquired a new stake in International Business Machines in the second quarter valued at approximately $47,000. Corsicana & Co. acquired a new stake in International Business Machines in the second quarter valued at approximately $55,000. Finally, Bradley & Co. Private Wealth Management LLC acquired a new stake in International Business Machines in the first quarter valued at approximately $52,000. Institutional investors own 55.24% of the company’s stock.
A number of equities analysts recently issued reports on IBM shares. Citigroup boosted their target price on shares of International Business Machines from $140.00 to $150.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 20th. Jefferies Financial Group began coverage on shares of International Business Machines in a report on Friday, October 1st. They issued a “buy” rating and a $170.00 price target on the stock. Credit Suisse Group boosted their price target on shares of International Business Machines from $167.00 to $176.00 and gave the company an “outperform” rating in a report on Tuesday, October 5th. Morgan Stanley boosted their target price on shares of International Business Machines from $152.00 to $164.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 20th. Finally, BMO Capital Markets increased their price target on shares of International Business Machines from $150.00 to $155.00 and gave the company a “market perform” rating in a research note on Friday, July 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $153.75.
International Business Machines (NYSE:IBM) last announced its earnings results on Sunday, July 18th. The technology company reported $2.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.29 by $0.04. The firm had revenue of $18.75 billion during the quarter, compared to analyst estimates of $18.30 billion. International Business Machines had a net margin of 7.17% and a return on equity of 36.79%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.18 EPS. On average, equities research analysts expect that International Business Machines Co. will post 10.82 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 10th. Investors of record on Tuesday, August 10th were paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date was Monday, August 9th. International Business Machines’s payout ratio is presently 75.66%.
About International Business Machines
International Business Machines Corp. is an information technology company, which provides integrated solutions that leverage information technology and knowledge of business processes. It operates through the following segments: Cloud and Cognitive Software, Global Business Services, Global Technology Services, Systems, and Global Financing.
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