International Business Machines Corporation (IBM) Shares Sold by FundX Investment Group LLC

FundX Investment Group LLC lowered its position in shares of International Business Machines Corporation (NYSE:IBM) by 2.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,000 shares of the technology company’s stock after selling 40 shares during the quarter. FundX Investment Group LLC’s holdings in International Business Machines Corporation were worth $308,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. State Street Corp boosted its position in International Business Machines Corporation by 0.4% during the first quarter. State Street Corp now owns 51,198,962 shares of the technology company’s stock valued at $8,915,788,000 after acquiring an additional 181,993 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in International Business Machines Corporation by 3.0% during 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 acquiring an additional 134,862 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in International Business Machines Corporation by 3.3% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,808,640 shares of the technology company’s stock valued at $432,053,000 after acquiring an additional 88,708 shares during the last quarter. LSV Asset Management boosted its position in International Business Machines Corporation by 2.3% during the first quarter. LSV Asset Management now owns 2,578,404 shares of the technology company’s stock valued at $449,003,000 after acquiring an additional 59,030 shares during the last quarter. Finally, APG Asset Management N.V. boosted its position in International Business Machines Corporation by 11.6% during the second quarter. APG Asset Management N.V. now owns 2,527,501 shares of the technology company’s stock valued at $388,805,000 after acquiring an additional 261,720 shares during the last quarter. 58.35% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Corporation (IBM) opened at $149.16 on Friday. The company has a market cap of $138,090.98, a P/E ratio of 10.92, a P/E/G ratio of 2.18 and a beta of 0.94. International Business Machines Corporation has a fifty-two week low of $139.13 and a fifty-two week high of $182.79. The company has a quick ratio of 1.36, a current ratio of 1.41 and a debt-to-equity ratio of 2.09.

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

International Business Machines Corporation declared that its Board of Directors has approved a stock buyback plan on Tuesday, October 31st that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the technology company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

The company also recently declared 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 annualized dividend and a yield of 4.02%. The ex-dividend date is Thursday, November 9th. International Business Machines Corporation’s payout ratio is 50.13%.

IBM has been the topic of a number of research analyst reports. Vetr cut shares of International Business Machines Corporation from a “buy” rating to a “hold” rating and set a $160.68 price objective on the stock. in a research report on Thursday, October 19th. Berenberg Bank set a $125.00 price objective on shares of International Business Machines Corporation and gave the stock a “sell” rating in a research report on Wednesday, October 18th. Standpoint Research raised shares of International Business Machines Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Zacks Investment Research raised shares of International Business Machines Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, Cantor Fitzgerald reissued a “hold” rating and set a $154.00 price objective (down previously from $166.00) on shares of International Business Machines Corporation in a research report on Wednesday, July 19th. Eight equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $158.90.

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About International Business Machines Corporation

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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