International Business Machines Corporation (NYSE:IBM) Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. reduced its position in shares of International Business Machines Corporation (NYSE:IBM) by 30.1% during the first quarter, Holdings Channel reports. The institutional investor owned 125,423 shares of the technology company’s stock after selling 54,032 shares during the period. International Business Machines Corporation comprises approximately 1.7% of Logan Capital Management Inc.’s portfolio, making the stock its 10th largest position. Logan Capital Management Inc.’s holdings in International Business Machines Corporation were worth $21,841,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Thomas J. Herzfeld Advisors Inc. purchased a new position in International Business Machines Corporation during the fourth quarter worth approximately $117,000. Jackson Grant Investment Advisers Inc. boosted its position in 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 in the last quarter. CKW Financial Group boosted its position 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 worth $163,000 after buying an additional 121 shares in the last quarter. Grisanti Capital Management LLC boosted its position 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 worth $179,000 after buying an additional 20 shares in the last quarter. Finally, Pacific Center for Financial Services purchased a new position in International Business Machines Corporation during the fourth quarter worth approximately $195,000. 58.73% of the stock is currently owned by institutional investors and hedge funds.

Shares of International Business Machines Corporation (IBM) traded down 0.15% during mid-day trading on Friday, reaching $141.63. 886,406 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $149.55 and a 200 day moving average price of $162.71. International Business Machines Corporation has a 12-month low of $141.19 and a 12-month high of $182.79. The firm has a market capitalization of $131.99 billion, a price-to-earnings ratio of 11.75 and a beta of 0.97.

International Business Machines Corporation (NYSE:IBM) last announced its quarterly earnings results on Tuesday, July 18th. The technology company reported $2.97 earnings per share for the quarter, topping the consensus estimate of $2.74 by $0.23. International Business Machines Corporation had a net margin of 14.58% and a return on equity of 71.53%. The firm had revenue of $19.29 billion during the quarter, compared to analysts’ expectations of $19.45 billion. During the same quarter in the prior year, the company earned $2.95 EPS. The company’s revenue was down 4.7% compared to the same quarter last year. Analysts anticipate that International Business Machines Corporation will post $13.74 EPS for the current fiscal year.

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

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A number of research analysts recently commented on IBM shares. Bank of America Corporation reissued a “buy” rating and issued a $180.00 target price (down previously from $185.00) on shares of International Business Machines Corporation in a research note on Wednesday, April 19th. Stifel Nicolaus reissued a “buy” rating and issued a $192.00 target price on shares of International Business Machines Corporation in a research note on Wednesday, April 19th. Drexel Hamilton reissued a “buy” rating and issued a $200.00 target price (down previously from $215.00) on shares of International Business Machines Corporation in a research note on Saturday, April 22nd. Vetr raised International Business Machines Corporation from a “hold” rating to a “buy” rating and set a $159.56 target price on the stock in a research note on Monday, July 10th. Finally, Standpoint Research raised International Business Machines Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Seven equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $157.40.

In other International Business Machines Corporation news, Director James W. Owens purchased 1,718 shares of the stock in a transaction dated Tuesday, May 16th. The stock was purchased at an average price of $153.19 per share, with a total value of $263,180.42. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.23% of the stock is currently owned by corporate insiders.

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.

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

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