Toronto Dominion Bank Sells 328,181 Shares of International Business Machines Corp. (IBM)

Toronto Dominion Bank lessened its stake in shares of International Business Machines Corp. (NYSE:IBM) by 39.8% in the third quarter, HoldingsChannel reports. The firm owned 497,294 shares of the technology company’s stock after selling 328,181 shares during the quarter. Toronto Dominion Bank’s holdings in International Business Machines were worth $72,143,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Herndon Capital Management LLC grew its holdings in International Business Machines by 39.0% in the 2nd quarter. Herndon Capital Management LLC now owns 695 shares of the technology company’s stock valued at $107,000 after buying an additional 195 shares during the period. Edge Wealth Management LLC grew its holdings in International Business Machines by 5.6% in the 2nd 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 period. ETF Managers Group LLC purchased a new stake in International Business Machines in the 2nd quarter valued at about $121,000. Peddock Capital Advisors LLC grew its holdings in International Business Machines by 7.3% in the 2nd quarter. Peddock Capital Advisors LLC now owns 912 shares of the technology company’s stock valued at $140,000 after buying an additional 62 shares during the period. Finally, Horan Securities Inc. grew its holdings in International Business Machines by 845.5% in the 2nd 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 period. Hedge funds and other institutional investors own 57.12% of the company’s stock.

Several analysts have commented on the company. Barclays upgraded International Business Machines from an “underweight” rating to an “overweight” rating in a report on Wednesday. Societe Generale set a $152.00 price target on International Business Machines and gave the company a “sell” rating in a report on Friday, January 12th. BMO Capital Markets restated a “hold” rating and issued a $175.00 price target on shares of International Business Machines in a report on Thursday, January 11th. They noted that the move was a valuation call. Zacks Investment Research upgraded International Business Machines from a “sell” rating to a “hold” rating in a report on Wednesday, January 10th. Finally, Royal Bank of Canada upgraded International Business Machines from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $160.00 to $180.00 in a report on Wednesday, January 3rd. They noted that the move was a valuation call. Six investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $159.90.

International Business Machines Corp. (NYSE IBM) opened at $163.85 on Wednesday. The firm has a market capitalization of $151,690.00, a PE ratio of 13.68, a PEG ratio of 2.38 and a beta of 0.94. International Business Machines Corp. has a 52 week low of $139.13 and a 52 week high of $182.79. The company has a quick ratio of 1.36, a current ratio of 1.41 and a debt-to-equity ratio of 2.09.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Tuesday, October 17th. The technology company reported $3.30 earnings per share 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 analyst estimates of $18.63 billion. International Business Machines had a return on equity of 68.68% and a net margin of 14.43%. The company’s revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the company posted $3.29 EPS. sell-side analysts anticipate that International Business Machines Corp. will post 13.79 earnings per share for the current fiscal year.

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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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