Cape Cod Five Cents Savings Bank Sells 1,395 Shares of International Business Machines Corporation (NYSE:IBM)

Cape Cod Five Cents Savings Bank cut its position in International Business Machines Corporation (NYSE:IBM) by 5.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,360 shares of the technology company’s stock after selling 1,395 shares during the period. Cape Cod Five Cents Savings Bank’s holdings in International Business Machines Corporation were worth $3,594,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Thomas J. Herzfeld Advisors Inc. bought a new stake in shares of International Business Machines Corporation during the fourth quarter worth about $117,000. Jackson Grant Investment Advisers Inc. increased its stake in shares of International Business Machines Corporation by 0.8% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 737 shares of the technology company’s stock worth $122,000 after buying an additional 6 shares during the period. Horan Securities Inc. increased its stake in shares of International Business Machines Corporation by 845.5% in the second quarter. Horan Securities Inc. now owns 936 shares of the technology company’s stock worth $144,000 after buying an additional 837 shares during the period. CKW Financial Group increased its stake in shares of International Business Machines Corporation by 14.8% in the first quarter. CKW Financial Group now owns 938 shares of the technology company’s stock worth $163,000 after buying an additional 121 shares during the period. Finally, Proficio Capital Partners LLC increased its stake in shares of 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 worth $146,000 after buying an additional 441 shares during the period. 58.73% of the stock is owned by institutional investors and hedge funds.

International Business Machines Corporation (IBM) remained flat at $141.84 on Friday. The company had a trading volume of 3,004,360 shares. The firm has a 50 day moving average of $149.20 and a 200 day moving average of $162.50. The stock has a market cap of $132.19 billion, a P/E ratio of 11.77 and a beta of 0.97. International Business Machines Corporation has a 52-week low of $141.19 and a 52-week high of $182.79.

International Business Machines Corporation (NYSE:IBM) last released its earnings results on Tuesday, July 18th. The technology company reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.74 by $0.23. International Business Machines Corporation had a return on equity of 71.53% and a net margin of 14.58%. The company had revenue of $19.29 billion for the quarter, compared to the consensus estimate of $19.45 billion. During the same quarter last year, the business posted $2.95 EPS. International Business Machines Corporation’s quarterly revenue was down 4.7% compared to the same quarter last year. On average, analysts expect that International Business Machines Corporation will post $13.74 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Saturday, September 9th. Shareholders of record on Thursday, August 10th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date is Tuesday, August 8th. International Business Machines Corporation’s dividend payout ratio is presently 49.88%.

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A number of analysts have issued reports on the company. UBS AG reaffirmed a “neutral” rating and issued a $167.00 target price (down from $185.00) on shares of International Business Machines Corporation in a research note on Saturday, April 22nd. Wedbush assumed coverage on International Business Machines Corporation in a research note on Thursday, August 3rd. They issued a “neutral” rating and a $155.00 target price for the company. Sanford C. Bernstein reissued a “market perform” rating and set a $150.00 price objective on shares of International Business Machines Corporation in a research report on Wednesday. Vetr downgraded International Business Machines Corporation from a “buy” rating to a “hold” rating and set a $150.68 price objective for the company. in a research report on Monday. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $165.00 price objective on shares of International Business Machines Corporation in a research report on Wednesday, July 12th. Seven investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have assigned a buy rating to the company. International Business Machines Corporation has a consensus rating of “Hold” and an average price target of $157.40.

In related news, Director James W. Owens purchased 1,718 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The shares were acquired at an average price of $153.19 per share, with a total value of $263,180.42. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.23% of the company’s stock.

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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