International Business Machines Corporation (IBM) Stake Lessened by ARS Investment Partners LLC

ARS Investment Partners LLC lowered its stake in shares of International Business Machines Corporation (NYSE:IBM) by 3.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,488 shares of the technology company’s stock after selling 938 shares during the quarter. ARS Investment Partners LLC’s holdings in International Business Machines Corporation were worth $3,921,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of IBM. Edge Wealth Management LLC boosted its position in International Business Machines Corporation by 5.6% in the second quarter. Edge Wealth Management LLC now owns 760 shares of the technology company’s stock valued at $117,000 after buying an additional 40 shares during the last quarter. Horan Securities Inc. boosted its position 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 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 valued at $163,000 after buying an additional 121 shares during 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 valued at $146,000 after buying an additional 441 shares during the last quarter. Finally, 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 valued at $179,000 after buying an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 57.88% of the company’s stock.

A number of equities research analysts recently commented on IBM shares. Stifel Nicolaus reiterated a “buy” rating and issued a $182.00 target price on shares of International Business Machines Corporation in a research report on Friday, July 21st. Cantor Fitzgerald reiterated a “hold” rating and issued a $154.00 target price 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 company a “neutral” rating in a research report on Wednesday, October 18th. Finally, ValuEngine lowered International Business Machines Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 15th. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $158.90.

International Business Machines Corporation (NYSE:IBM) last issued its quarterly earnings data on Tuesday, October 17th. The technology company reported $3.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 business had revenue of $19.15 billion for the quarter, compared to the consensus estimate of $18.63 billion. During the same period in the prior year, the business earned $3.29 earnings per share. The business’s revenue was down .4% on a year-over-year basis.

International Business Machines Corporation announced that its Board of Directors has initiated a stock buyback plan on Tuesday, October 31st that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the technology company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, December 9th. Stockholders of record on Friday, November 10th will be given a $1.50 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $6.00 annualized dividend and a dividend yield of 3.91%. International Business Machines Corporation’s dividend payout ratio is currently 50.13%.

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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.

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

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