Douglas Lane & Associates LLC Has $8.07 Million Stake in International Business Machines Corporation (NYSE:IBM)

Douglas Lane & Associates LLC cut its position in shares of International Business Machines Corporation (NYSE:IBM) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,451 shares of the technology company’s stock after selling 35 shares during the period. Douglas Lane & Associates LLC’s holdings in International Business Machines Corporation were worth $8,069,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Thomas J. Herzfeld Advisors Inc. bought a new stake in International Business Machines Corporation during the fourth quarter worth about $117,000. Jackson Grant Investment Advisers Inc. increased 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 worth $122,000 after buying an additional 6 shares in the last quarter. Horan Securities Inc. increased 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 worth $144,000 after buying an additional 837 shares in the last quarter. Proficio Capital Partners LLC boosted its position 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 worth $146,000 after buying an additional 441 shares during the last quarter. Finally, 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 during the last quarter. 58.57% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Corporation (NYSE:IBM) traded down 0.46% during mid-day trading on Friday, reaching $140.05. The company had a trading volume of 1,961,890 shares. The firm has a 50-day moving average price of $147.71 and a 200 day moving average price of $161.48. International Business Machines Corporation has a 12-month low of $139.58 and a 12-month high of $182.79. The firm has a market capitalization of $130.52 billion, a price-to-earnings ratio of 11.62 and a beta of 0.97.

International Business Machines Corporation (NYSE:IBM) last issued 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. The company had revenue of $19.29 billion for the quarter, compared to analysts’ expectations of $19.45 billion. International Business Machines Corporation had a net margin of 14.58% and a return on equity of 71.53%. The firm’s revenue was down 4.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.95 EPS. Analysts expect that International Business Machines Corporation will post $13.76 EPS for the current year.

The firm 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 4.26%. The ex-dividend date is Tuesday, August 8th. International Business Machines Corporation’s payout ratio is presently 49.88%.

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A number of research firms recently commented on IBM. UBS AG reiterated a “neutral” rating and set a $167.00 price target (down previously from $185.00) on shares of International Business Machines Corporation in a report on Saturday, April 22nd. Sanford C. Bernstein reiterated a “neutral” rating and set a $150.00 price target on shares of International Business Machines Corporation in a report on Friday, May 5th. Wells Fargo & Company reiterated a “market perform” rating and set a $162.50 price target on shares of International Business Machines Corporation in a report on Tuesday, April 25th. BidaskClub upgraded International Business Machines Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Finally, Cleveland Research began coverage on International Business Machines Corporation in a report on Thursday, June 22nd. They set a “neutral” rating for the company. 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 company. International Business Machines Corporation has an average rating of “Hold” and a consensus target price of $157.40.

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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