Traders Buy International Business Machines Corporation (IBM) on Weakness

Traders purchased shares of International Business Machines Corporation (NYSE:IBM) on weakness during trading on Wednesday. $123.29 million flowed into the stock on the tick-up and $95.23 million flowed out of the stock on the tick-down, for a money net flow of $28.06 million into the stock. Of all stocks tracked, International Business Machines Corporation had the 11th highest net in-flow for the day. International Business Machines Corporation traded down ($0.03) for the day and closed at $154.03

IBM has been the subject of several recent analyst reports. Stifel Nicolaus restated a “buy” rating and set a $182.00 price objective on shares of International Business Machines Corporation in a research report on Friday, July 21st. Cantor Fitzgerald restated a “hold” rating and set a $154.00 price objective on shares of International Business Machines Corporation in a research report on Friday, October 13th. BidaskClub upgraded International Business Machines Corporation from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. Goldman Sachs Group, Inc. (The) set a $170.00 target price on International Business Machines Corporation and gave the stock a “neutral” rating in a report on Wednesday, October 18th. Finally, ValuEngine cut International Business Machines Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 15th. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and ten have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $158.90.

International Business Machines Corporation (NYSE:IBM) last posted its earnings results on Tuesday, October 17th. The technology company reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.28 by $0.02. International Business Machines Corporation had a return on equity of 68.68% and a net margin of 14.43%. The firm had revenue of $19.15 billion for the quarter, compared to the consensus estimate of $18.63 billion. During the same quarter in the prior year, the business earned $3.29 EPS. The business’s revenue for the quarter was down .4% on a year-over-year basis.

The company also recently announced a quarterly dividend, which will be paid on Saturday, December 9th. Shareholders of record on Friday, November 10th will be issued a dividend of $1.50 per share. The ex-dividend date is Thursday, November 9th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.89%. International Business Machines Corporation’s dividend payout ratio (DPR) is 50.13%.

International Business Machines Corporation declared that its board has authorized a share repurchase program on Tuesday, October 31st that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the technology company to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

Several hedge funds have recently bought and sold shares of the business. Klingenstein Fields & Co. LLC grew its holdings in shares of International Business Machines Corporation by 174.8% during the 3rd quarter. Klingenstein Fields & Co. LLC now owns 106,374 shares of the technology company’s stock worth $15,433,000 after acquiring an additional 67,663 shares during the period. American Century Companies Inc. grew its holdings in shares of International Business Machines Corporation by 14.1% during the 3rd quarter. American Century Companies Inc. now owns 1,182,871 shares of the technology company’s stock worth $171,611,000 after acquiring an additional 146,397 shares during the period. First Personal Financial Services grew its holdings in shares of International Business Machines Corporation by 3.7% during the 3rd quarter. First Personal Financial Services now owns 33,215 shares of the technology company’s stock worth $4,819,000 after acquiring an additional 1,179 shares during the period. WealthTrust Axiom LLC grew its holdings in shares of International Business Machines Corporation by 11.5% during the 3rd quarter. WealthTrust Axiom LLC now owns 53,537 shares of the technology company’s stock worth $7,767,000 after acquiring an additional 5,533 shares during the period. Finally, Good Life Advisors LLC grew its holdings in shares of International Business Machines Corporation by 42.6% during the 3rd quarter. Good Life Advisors LLC now owns 4,210 shares of the technology company’s stock worth $618,000 after acquiring an additional 1,257 shares during the period. Hedge funds and other institutional investors own 57.88% of the company’s stock.

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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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