Needelman Asset Management Inc. Holds Position in International Business Machines Corporation (IBM)

Needelman Asset Management Inc. maintained its position in International Business Machines Corporation (NYSE:IBM) during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,746 shares of the technology company’s stock at the end of the second quarter. Needelman Asset Management Inc.’s holdings in International Business Machines Corporation were worth $269,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of IBM. First Command Financial Services Inc. lifted its holdings in shares of International Business Machines Corporation by 6.0% in the first quarter. First Command Financial Services Inc. now owns 6,866 shares of the technology company’s stock valued at $1,196,000 after purchasing an additional 389 shares in the last quarter. CWM LLC lifted its holdings in shares of International Business Machines Corporation by 20.1% in the first quarter. CWM LLC now owns 118,387 shares of the technology company’s stock valued at $20,616,000 after purchasing an additional 19,829 shares in the last quarter. Oliver Luxxe Assets LLC lifted its holdings in shares of International Business Machines Corporation by 2.8% in the first quarter. Oliver Luxxe Assets LLC now owns 25,379 shares of the technology company’s stock valued at $4,419,000 after purchasing an additional 696 shares in the last quarter. Pinnacle Bank bought a new position in shares of International Business Machines Corporation in the first quarter valued at approximately $1,416,000. Finally, Howe & Rusling Inc. lifted its holdings in shares of International Business Machines Corporation by 425.7% in the first quarter. Howe & Rusling Inc. now owns 46,770 shares of the technology company’s stock valued at $8,145,000 after purchasing an additional 37,874 shares in the last quarter. Institutional investors own 57.94% of the company’s stock.

International Business Machines Corporation (IBM) traded down 0.49% on Friday, hitting $144.82. The stock had a trading volume of 7,397,233 shares. The company’s 50 day moving average price is $143.19 and its 200 day moving average price is $156.45. The firm has a market cap of $134.96 billion, a price-to-earnings ratio of 12.02 and a beta of 0.97. International Business Machines Corporation has a 52-week low of $139.13 and a 52-week high of $182.79.

International Business Machines Corporation (NYSE:IBM) last released its quarterly earnings data on Tuesday, July 18th. The technology company reported $2.97 EPS for the quarter, beating the consensus estimate of $2.74 by $0.23. International Business Machines Corporation had a net margin of 14.58% and a return on equity of 71.53%. The business had revenue of $19.29 billion during the quarter, compared to the consensus estimate of $19.45 billion. During the same quarter in the prior year, the firm earned $2.95 EPS. The business’s revenue was down 4.7% on a year-over-year basis. Analysts expect that International Business Machines Corporation will post $13.76 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Saturday, September 9th. Shareholders of record on Thursday, August 10th were issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 4.14%. The ex-dividend date of this dividend was Tuesday, August 8th. International Business Machines Corporation’s dividend payout ratio (DPR) is presently 49.88%.

A number of analysts recently commented on the company. BidaskClub raised International Business Machines Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Cleveland Research assumed coverage on International Business Machines Corporation in a research report on Thursday, June 22nd. They set a “neutral” rating for the company. Cantor Fitzgerald reaffirmed a “hold” rating and set a $154.00 price target (down from $166.00) on shares of International Business Machines Corporation in a research report on Wednesday, July 19th. Argus reaffirmed a “buy” rating and set a $175.00 price target (down from $192.00) on shares of International Business Machines Corporation in a research report on Friday, July 21st. Finally, UBS AG reaffirmed a “neutral” rating and set a $159.00 price target (down from $167.00) on shares of International Business Machines Corporation in a research report on Saturday, July 22nd. Seven research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $157.12.

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International Business Machines Corporation Profile

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 Corporation (NYSE:IBM)

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