Sand Hill Global Advisors LLC Trims Holdings in International Business Machines Corp. (IBM)

Sand Hill Global Advisors LLC reduced its holdings in shares of International Business Machines Corp. (NYSE:IBM) by 12.2% in the third quarter, Holdings Channel reports. The institutional investor owned 3,812 shares of the technology company’s stock after selling 531 shares during the period. Sand Hill Global Advisors LLC’s holdings in International Business Machines were worth $553,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its holdings in International Business Machines by 3.7% during the second quarter. Vanguard Group Inc. now owns 62,228,040 shares of the technology company’s stock valued at $9,572,538,000 after buying an additional 2,241,818 shares during the last quarter. BlackRock Inc. increased its holdings in International Business Machines by 2.4% during the second quarter. BlackRock Inc. now owns 52,936,360 shares of the technology company’s stock valued at $8,143,204,000 after buying an additional 1,241,441 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in International Business Machines by 4.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,242,553 shares of the technology company’s stock valued at $763,790,000 after buying an additional 216,212 shares during the last quarter. Legal & General Group Plc increased its holdings in International Business Machines by 2.5% during the third quarter. Legal & General Group Plc now owns 4,929,973 shares of the technology company’s stock valued at $715,252,000 after buying an additional 119,747 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in International Business Machines by 3.8% during the third quarter. Schwab Charles Investment Management Inc. now owns 4,826,502 shares of the technology company’s stock valued at $700,229,000 after buying an additional 175,289 shares during the last quarter. 57.06% of the stock is owned by institutional investors and hedge funds.

International Business Machines Corp. (NYSE IBM) opened at $147.59 on Friday. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.29 and a current ratio of 1.33. International Business Machines Corp. has a 12-month low of $139.13 and a 12-month high of $182.79. The firm has a market cap of $142,433.02, a price-to-earnings ratio of 24.16, a P/E/G ratio of 2.25 and a beta of 0.94.

International Business Machines (NYSE:IBM) last issued its earnings results on Thursday, January 18th. The technology company reported $5.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $5.17 by $0.01. International Business Machines had a net margin of 7.27% and a return on equity of 69.48%. The firm had revenue of $22.54 billion during the quarter, compared to analyst estimates of $22.03 billion. During the same quarter in the prior year, the business earned $5.01 earnings per share. International Business Machines’s revenue for the quarter was up 3.6% on a year-over-year basis. analysts expect that International Business Machines Corp. will post 13.82 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 10th. Investors of record on Friday, February 9th will be given a dividend of $1.50 per share. The ex-dividend date is Thursday, February 8th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 4.07%. International Business Machines’s dividend payout ratio is 98.20%.

In related news, Director Frederick H. Waddell bought 610 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The stock was purchased at an average price of $163.38 per share, for a total transaction of $99,661.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.23% of the stock is currently owned by corporate insiders.

A number of analysts have commented on IBM shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $182.00 target price on shares of International Business Machines in a report on Wednesday, October 18th. Drexel Hamilton reiterated a “buy” rating and issued a $200.00 price target on shares of International Business Machines in a research report on Tuesday, October 17th. Vetr upgraded shares of International Business Machines from a “hold” rating to a “buy” rating and set a $164.53 price target for the company in a research report on Tuesday, October 24th. Pivotal Research started coverage on shares of International Business Machines in a research report on Friday, October 27th. They issued a “buy” rating and a $180.00 price target for the company. Finally, Tigress Financial reiterated a “buy” rating on shares of International Business Machines in a research report on Friday, December 1st. Seven investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $164.37.

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International Business Machines Company 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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