Sterneck Capital Management LLC Buys 10,159 Shares of International Business Machines Corporation (IBM)

Sterneck Capital Management LLC boosted its stake in International Business Machines Corporation (NYSE:IBM) by 91.3% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,281 shares of the technology company’s stock after buying an additional 10,159 shares during the quarter. International Business Machines makes up about 2.0% of Sterneck Capital Management LLC’s holdings, making the stock its 16th biggest position. Sterneck Capital Management LLC’s holdings in International Business Machines were worth $3,274,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. SeaBridge Investment Advisors LLC lifted its stake in shares of International Business Machines by 18.9% during the 2nd quarter. SeaBridge Investment Advisors LLC now owns 76,818 shares of the technology company’s stock worth $11,817,000 after purchasing an additional 12,236 shares during the period. Intellectus Partners LLC lifted its stake in shares of International Business Machines by 9.8% during the 1st quarter. Intellectus Partners LLC now owns 16,817 shares of the technology company’s stock worth $2,929,000 after purchasing an additional 1,496 shares during the period. CKW Financial Group lifted its stake in shares of International Business Machines by 14.8% during the 1st quarter. CKW Financial Group now owns 938 shares of the technology company’s stock worth $163,000 after purchasing an additional 121 shares during the period. Argus Investors Counsel Inc. lifted its stake in shares of International Business Machines by 10.9% during the 2nd quarter. Argus Investors Counsel Inc. now owns 26,876 shares of the technology company’s stock worth $4,134,000 after purchasing an additional 2,651 shares during the period. Finally, SOL Capital Management CO lifted its stake in shares of International Business Machines by 0.6% during the 2nd quarter. SOL Capital Management CO now owns 7,588 shares of the technology company’s stock worth $1,167,000 after purchasing an additional 45 shares during the period. 57.26% of the stock is currently owned by hedge funds and other institutional investors.

Shares of International Business Machines Corporation (IBM) traded up $1.33 during trading on Wednesday, hitting $156.74. The stock had a trading volume of 6,321,800 shares, compared to its average volume of 4,262,980. The company has a quick ratio of 1.36, a current ratio of 1.41 and a debt-to-equity ratio of 2.09. The firm has a market capitalization of $143,877.25, a P/E ratio of 11.38, a PEG ratio of 2.28 and a beta of 0.94. International Business Machines Corporation has a 12 month low of $139.13 and a 12 month high of $182.79.

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

The firm also recently announced a quarterly dividend, which was paid on Saturday, December 9th. Stockholders of record on Friday, November 10th were paid a dividend of $1.50 per share. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $6.00 annualized dividend and a dividend yield of 3.83%. International Business Machines’s dividend payout ratio is presently 50.13%.

IBM has been the topic of a number of recent analyst reports. Cantor Fitzgerald reissued a “hold” rating and set a $154.00 price target on shares of International Business Machines in a research note on Friday, October 13th. Stifel Nicolaus reissued a “buy” rating and set a $182.00 price target on shares of International Business Machines in a research note on Friday, October 6th. Royal Bank of Canada restated a “hold” rating and set a $160.00 price objective on shares of International Business Machines in a report on Wednesday, November 15th. BidaskClub upgraded International Business Machines from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. Finally, Goldman Sachs Group set a $170.00 price objective on International Business Machines and gave the stock a “neutral” rating in a report on Wednesday, October 18th. Eight investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the stock. International Business Machines currently has a consensus rating of “Hold” and a consensus target price of $159.24.

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International Business Machines 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 (NYSE:IBM)

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