Coastline Trust Co Sells 814 Shares of International Business Machines Corporation (IBM)

Coastline Trust Co lessened its holdings in International Business Machines Corporation (NYSE:IBM) by 5.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,013 shares of the technology company’s stock after selling 814 shares during the period. Coastline Trust Co’s holdings in International Business Machines were worth $2,310,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of IBM. DekaBank Deutsche Girozentrale grew its stake in International Business Machines by 70.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 646,799 shares of the technology company’s stock worth $112,830,000 after buying an additional 267,588 shares during the last quarter. Grisanti Capital Management LLC grew its stake in International Business Machines by 2.0% during the first quarter. Grisanti Capital Management LLC now owns 1,027 shares of the technology company’s stock worth $179,000 after buying an additional 20 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in International Business Machines by 5.9% during the first quarter. Daiwa Securities Group Inc. now owns 53,060 shares of the technology company’s stock worth $9,240,000 after buying an additional 2,970 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its stake in International Business Machines by 89.1% during the first quarter. Massmutual Trust Co. FSB ADV now owns 27,443 shares of the technology company’s stock worth $4,779,000 after buying an additional 12,928 shares during the last quarter. Finally, Checchi Capital Advisers LLC grew its stake in shares of International Business Machines by 7.9% during the first quarter. Checchi Capital Advisers LLC now owns 13,052 shares of the technology company’s stock valued at $2,273,000 after purchasing an additional 954 shares during the last quarter. 57.26% of the stock is owned by hedge funds and other institutional investors.

Shares of International Business Machines Corporation (IBM) traded down $0.77 during mid-day trading on Wednesday, reaching $154.58. 748,324 shares of the company’s stock were exchanged, compared to its average volume of 4,263,785. International Business Machines Corporation has a 1 year low of $139.13 and a 1 year high of $182.79. The company has a market capitalization of $144,849.33, a PE ratio of 11.45, a PEG ratio of 2.29 and a beta of 0.94. The company has a current ratio of 1.41, a quick ratio of 1.36 and a debt-to-equity ratio of 2.09.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, December 9th. Shareholders of record on Friday, November 10th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $6.00 dividend on an annualized basis and a yield of 3.88%. International Business Machines’s payout ratio is presently 50.13%.

Several analysts have recently commented on the stock. Royal Bank Of Canada reissued a “hold” rating on shares of International Business Machines in a research note on Friday, October 13th. BidaskClub raised shares of International Business Machines from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. Morgan Stanley reissued an “overweight” rating and set a $192.00 price target on shares of International Business Machines in a research note on Wednesday, August 23rd. BMO Capital Markets reissued a “market perform” rating and set a $170.00 price target (up from $167.00) on shares of International Business Machines in a research note on Wednesday, October 18th. Finally, Citigroup increased their price target on shares of International Business Machines from $160.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, October 18th. Eight research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $159.12.

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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.

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

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