Synovus Financial Corp Trims Stake in International Business Machines Corporation (IBM)

Synovus Financial Corp trimmed its holdings in International Business Machines Corporation (NYSE:IBM) by 13.8% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 68,137 shares of the technology company’s stock after selling 10,869 shares during the period. Synovus Financial Corp’s holdings in International Business Machines were worth $10,482,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in IBM. State Street Corp increased its stake in shares of International Business Machines by 0.4% during the first quarter. State Street Corp now owns 51,198,962 shares of the technology company’s stock worth $8,915,788,000 after acquiring an additional 181,993 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of International Business Machines by 3.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 4,651,213 shares of the technology company’s stock worth $715,497,000 after acquiring an additional 134,862 shares during the period. Swiss National Bank increased its stake in shares of International Business Machines by 2.9% during the second quarter. Swiss National Bank now owns 3,534,977 shares of the technology company’s stock worth $543,786,000 after acquiring an additional 100,700 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of International Business Machines by 3.3% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,808,640 shares of the technology company’s stock worth $432,053,000 after acquiring an additional 88,708 shares during the period. Finally, APG Asset Management N.V. increased its stake in shares of International Business Machines by 11.6% during the second quarter. APG Asset Management N.V. now owns 2,527,501 shares of the technology company’s stock worth $388,805,000 after acquiring an additional 261,720 shares during the period. 58.43% of the stock is owned by institutional investors and hedge funds.

International Business Machines Corporation (IBM) opened at $151.84 on Friday. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.36 and a current ratio of 1.41. The stock has a market cap of $140,572.11, a P/E ratio of 11.12, a P/E/G ratio of 2.22 and a beta of 0.94. International Business Machines Corporation has a one year low of $139.13 and a one year high of $182.79.

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 for the quarter, compared to the consensus estimate of $18.63 billion. International Business Machines had a net margin of 14.43% and a return on equity of 68.68%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.29 earnings per share. research analysts forecast that International Business Machines Corporation will post 13.8 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 9th. Investors of record on Friday, November 10th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend is Thursday, November 9th. International Business Machines’s payout ratio is 50.13%.

IBM has been the topic of a number of recent analyst reports. Vetr upgraded shares of International Business Machines from a “hold” rating to a “buy” rating and set a $150.68 price target on the stock in a research note on Monday, July 31st. Wedbush initiated coverage on shares of International Business Machines in a research note on Thursday, August 3rd. They set a “neutral” rating and a $155.00 price target on the stock. Sanford C. Bernstein reiterated a “market perform” rating and set a $150.00 price target on shares of International Business Machines in a research note on Wednesday, August 9th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $160.00 price target on shares of International Business Machines in a research note on Friday, August 18th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $192.00 price target on shares of International Business Machines in a research note on Wednesday, August 23rd. Eight investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $158.93.

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International Business Machines 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 (NYSE:IBM)

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