Steinberg Global Asset Management Sells 649 Shares of International Business Machines Corp. (IBM)

Steinberg Global Asset Management lessened its stake in International Business Machines Corp. (NYSE:IBM) by 11.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,079 shares of the technology company’s stock after selling 649 shares during the period. Steinberg Global Asset Management’s holdings in International Business Machines were worth $737,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. SeaBridge Investment Advisors LLC lifted its position in shares of International Business Machines by 18.9% during the 2nd quarter. SeaBridge Investment Advisors LLC now owns 76,818 shares of the technology company’s stock valued at $11,817,000 after buying an additional 12,236 shares in the last quarter. Intellectus Partners LLC raised its stake in International Business Machines by 9.8% in the 1st quarter. Intellectus Partners LLC now owns 16,817 shares of the technology company’s stock valued at $2,929,000 after purchasing an additional 1,496 shares during the last quarter. CKW Financial Group raised its stake in International Business Machines by 14.8% in the 1st quarter. CKW Financial Group now owns 938 shares of the technology company’s stock valued at $163,000 after purchasing an additional 121 shares during the last quarter. Argus Investors Counsel Inc. raised its stake in International Business Machines by 10.9% in the 2nd quarter. Argus Investors Counsel Inc. now owns 26,876 shares of the technology company’s stock valued at $4,134,000 after purchasing an additional 2,651 shares during the last quarter. Finally, SOL Capital Management CO raised its stake in International Business Machines by 0.6% in the 2nd quarter. SOL Capital Management CO now owns 7,588 shares of the technology company’s stock valued at $1,167,000 after purchasing an additional 45 shares during the last quarter. Institutional investors and hedge funds own 57.13% of the company’s stock.

International Business Machines Corp. (NYSE:IBM) opened at $152.50 on Tuesday. International Business Machines Corp. has a twelve month low of $139.13 and a twelve month high of $182.79. The company has a market capitalization of $142,120.00, a PE ratio of 12.73, a P/E/G ratio of 2.22 and a beta of 0.94. The company has a current ratio of 1.41, a quick ratio of 1.36 and a debt-to-equity ratio of 2.09.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Tuesday, October 17th. The technology company reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.02. The business had revenue of $19.15 billion during the quarter, compared to analysts’ expectations of $18.63 billion. International Business Machines had a return on equity of 68.68% and a net margin of 14.43%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the business posted $3.29 EPS. equities analysts anticipate that International Business Machines Corp. will post 13.8 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Saturday, December 9th. Stockholders of record on Friday, November 10th were paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 3.93%. The ex-dividend date of this dividend was Thursday, November 9th. International Business Machines’s payout ratio is presently 50.08%.

Several research analysts recently commented on IBM shares. UBS Group reissued a “neutral” rating and issued a $160.00 price objective (up from $152.00) on shares of International Business Machines in a research note on Wednesday, October 18th. Jefferies Group reaffirmed a “sell” rating and issued a $125.00 target price on shares of International Business Machines in a research note on Thursday, September 21st. Vetr raised International Business Machines from a “buy” rating to a “strong-buy” rating and set a $173.45 target price for the company in a research note on Wednesday, December 6th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $154.00 target price on shares of International Business Machines in a research note on Friday, October 13th. Finally, ValuEngine downgraded International Business Machines from a “buy” rating to a “hold” rating in a research note on Friday, September 15th. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $159.24.

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About International Business Machines

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

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