International Business Machines Corporation (IBM) Position Decreased by Harwood Advisory Group LLC

Harwood Advisory Group LLC lowered its stake in shares of International Business Machines Corporation (NYSE:IBM) by 11.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,146 shares of the technology company’s stock after selling 2,974 shares during the period. International Business Machines Corporation comprises about 2.1% of Harwood Advisory Group LLC’s portfolio, making the stock its 10th largest position. Harwood Advisory Group LLC’s holdings in International Business Machines Corporation were worth $3,714,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Thomas J. Herzfeld Advisors Inc. acquired a new stake in International Business Machines Corporation during the fourth quarter valued at $117,000. Jackson Grant Investment Advisers Inc. raised its stake 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 valued at $122,000 after buying an additional 6 shares during the last quarter. Horan Securities Inc. raised its stake in International Business Machines Corporation by 845.5% in the second quarter. Horan Securities Inc. now owns 936 shares of the technology company’s stock valued at $144,000 after buying an additional 837 shares during the last quarter. CKW Financial Group raised its stake 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 valued at $163,000 after buying an additional 121 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its stake in 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 valued at $146,000 after buying an additional 441 shares during the last quarter. Hedge funds and other institutional investors own 58.73% of the company’s stock.

International Business Machines Corporation (IBM) opened at 141.84 on Friday. 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 cap of $132.19 billion, a P/E ratio of 11.77 and a beta of 0.97. The company has a 50-day moving average price of $149.20 and a 200-day moving average price of $162.50.

International Business Machines Corporation (NYSE:IBM) last announced its earnings results on Tuesday, July 18th. The technology company reported $2.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 business had revenue of $19.29 billion for the quarter, compared to analyst estimates of $19.45 billion. During the same quarter last year, the firm earned $2.95 EPS. International Business Machines Corporation’s revenue for the quarter was down 4.7% compared to the same quarter last year. On average, analysts predict that International Business Machines Corporation will post $13.74 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Saturday, September 9th. Investors of record on Thursday, August 10th will be given a $1.50 dividend. 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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Several research firms have recently commented on IBM. Pacific Crest began coverage on shares of International Business Machines Corporation in a research report on Thursday, May 18th. They set an “equal weight” rating and a $151.35 price target for the company. Stifel Nicolaus restated a “buy” rating and set a $182.00 price target on shares of International Business Machines Corporation in a research report on Friday, July 21st. BMO Capital Markets lowered their price target on shares of International Business Machines Corporation from $170.00 to $165.00 and set a “market perform” rating for the company in a research report on Wednesday, April 19th. Royal Bank Of Canada restated a “sector perform” rating and set a $160.00 price target (down previously from $165.00) on shares of International Business Machines Corporation in a research report on Saturday, July 22nd. Finally, Deutsche Bank AG restated a “hold” rating and set a $150.00 price target on shares of International Business Machines Corporation in a research report on Wednesday, April 19th. Seven equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have assigned a buy rating to the stock. International Business Machines Corporation has an average rating of “Hold” and an average target price of $157.40.

In other news, Director James W. Owens bought 1,718 shares of the company’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 accessible through this hyperlink. 0.23% of the stock is currently owned by company 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.

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

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