1ST Source Bank Decreases Position in International Business Machines Corporation (IBM)

1ST Source Bank trimmed its position in International Business Machines Corporation (NYSE:IBM) by 1.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,892 shares of the technology company’s stock after selling 604 shares during the period. 1ST Source Bank’s holdings in International Business Machines Corporation were worth $5,982,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of IBM. Horan Securities Inc. boosted its stake in International Business Machines Corporation 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 acquiring an additional 837 shares during the period. Proficio Capital Partners LLC boosted its stake in International Business Machines Corporation 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 acquiring an additional 441 shares during the period. CKW Financial Group boosted its stake in International Business Machines Corporation by 14.8% in the first quarter. CKW Financial Group now owns 938 shares of the technology company’s stock valued at $163,000 after acquiring an additional 121 shares during the period. Grisanti Capital Management LLC boosted its stake in International Business Machines Corporation by 2.0% in the first quarter. Grisanti Capital Management LLC now owns 1,027 shares of the technology company’s stock valued at $179,000 after acquiring an additional 20 shares during the period. Finally, Capital Management Associates NY acquired a new position in International Business Machines Corporation in the first quarter valued at approximately $200,000. Institutional investors and hedge funds own 57.94% of the company’s stock.

International Business Machines Corporation (NYSE:IBM) opened at 145.64 on Friday. The stock has a market capitalization of $135.73 billion, a PE ratio of 12.09 and a beta of 0.97. The firm’s 50-day moving average is $143.20 and its 200 day moving average is $156.70. International Business Machines Corporation has a 52-week low of $139.13 and a 52-week high of $182.79.

International Business Machines Corporation (NYSE:IBM) last posted its earnings results on Tuesday, July 18th. The technology company reported $2.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.74 by $0.23. The company had revenue of $19.29 billion for the quarter, compared to analyst estimates of $19.45 billion. International Business Machines Corporation had a net margin of 14.58% and a return on equity of 71.53%. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period last year, the business posted $2.95 earnings per share. On average, equities analysts forecast that International Business Machines Corporation will post $13.76 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Saturday, September 9th. Shareholders of record on Thursday, August 10th were issued a $1.50 dividend. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $6.00 annualized dividend and a yield of 4.12%. International Business Machines Corporation’s dividend payout ratio (DPR) is presently 49.88%.

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A number of brokerages have commented on IBM. Pacific Crest began coverage on International Business Machines Corporation in a research note on Thursday, May 18th. They issued an “equal weight” rating and a $151.35 target price for the company. BidaskClub upgraded International Business Machines Corporation from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. Stifel Nicolaus restated a “buy” rating and issued a $182.00 target price on shares of International Business Machines Corporation in a research note on Friday, July 21st. Royal Bank Of Canada restated a “sector perform” rating and issued a $160.00 target price (down from $165.00) on shares of International Business Machines Corporation in a research note on Saturday, July 22nd. Finally, Morgan Stanley restated an “overweight” rating and issued a $192.00 target price on shares of International Business Machines Corporation in a research note on Wednesday, August 23rd. Seven research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $157.12.

International Business Machines Corporation 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 Corporation (NYSE:IBM)

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