Middleton & Co Inc MA Cuts Stake in International Business Machines Corporation (IBM)

Middleton & Co Inc MA decreased its stake in International Business Machines Corporation (NYSE:IBM) by 31.3% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 5,956 shares of the technology company’s stock after selling 2,711 shares during the period. Middleton & Co Inc MA’s holdings in International Business Machines Corporation were worth $916,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of IBM. Cantab Capital Partners LLP boosted its stake in shares of International Business Machines Corporation by 2.4% in the fourth quarter. Cantab Capital Partners LLP now owns 12,957 shares of the technology company’s stock valued at $2,151,000 after buying an additional 307 shares in the last quarter. Folger Hill Asset Management LP boosted its stake in shares of International Business Machines Corporation by 72.7% in the fourth quarter. Folger Hill Asset Management LP now owns 6,045 shares of the technology company’s stock valued at $1,003,000 after buying an additional 2,545 shares during the period. Bristol Advisors LLC purchased a new stake in shares of International Business Machines Corporation during the fourth quarter valued at $2,789,000. Chilton Capital Management LLC boosted its stake in shares of International Business Machines Corporation by 9.3% in the fourth quarter. Chilton Capital Management LLC now owns 7,962 shares of the technology company’s stock valued at $1,322,000 after buying an additional 676 shares during the period. Finally, Parallel Advisors LLC purchased a new stake in shares of International Business Machines Corporation during the fourth quarter valued at $1,173,000. 58.73% of the stock is currently owned by institutional investors and hedge funds.

Shares of International Business Machines Corporation (NYSE:IBM) opened at 141.84 on Friday. The stock has a market cap of $132.19 billion, a PE ratio of 11.77 and a beta of 0.97. The company’s 50-day moving average price is $149.20 and its 200-day moving average price is $162.50. 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 announced its quarterly earnings data on Tuesday, July 18th. The technology company reported $2.97 earnings per share for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $19.45 billion. During the same quarter in the prior year, the firm posted $2.95 earnings per share. The company’s revenue was down 4.7% on a year-over-year basis. Analysts expect that International Business Machines Corporation will post $13.74 earnings per share for the current year.

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

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IBM has been the topic of several analyst reports. Jefferies Group LLC set a $135.00 target price on shares of International Business Machines Corporation and gave the company a “sell” rating in a report on Friday, May 19th. Drexel Hamilton reaffirmed a “buy” rating and issued a $200.00 target price (down previously from $215.00) on shares of International Business Machines Corporation in a report on Saturday, April 22nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $182.00 target price on shares of International Business Machines Corporation in a report on Friday, July 21st. Bank of America Corporation reaffirmed a “buy” rating and issued a $180.00 target price (down previously from $185.00) on shares of International Business Machines Corporation in a report on Wednesday, April 19th. Finally, TheStreet cut shares of International Business Machines Corporation to a “hold” rating in a report on Friday, April 21st. Seven investment 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. The stock presently has a consensus rating of “Hold” and an average target price of $157.40.

In related news, Director James W. Owens bought 1,718 shares of International Business Machines Corporation stock in a transaction dated Tuesday, May 16th. The stock was acquired at an average cost of $153.19 per share, with a total value of $263,180.42. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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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