Ignite Planners LLC Sells 1,564 Shares of International Business Machines Co. (NYSE:IBM)

Ignite Planners LLC reduced its position in shares of International Business Machines Co. (NYSE:IBMGet Rating) by 34.3% in the second quarter, HoldingsChannel reports. The firm owned 2,992 shares of the technology company’s stock after selling 1,564 shares during the quarter. Ignite Planners LLC’s holdings in International Business Machines were worth $421,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of International Business Machines by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 77,002,099 shares of the technology company’s stock valued at $10,011,813,000 after purchasing an additional 1,448,444 shares during the period. BlackRock Inc. grew its stake in shares of International Business Machines by 1.7% during the 1st quarter. BlackRock Inc. now owns 66,591,742 shares of the technology company’s stock valued at $8,658,261,000 after acquiring an additional 1,139,368 shares during the period. State Street Corp grew its stake in shares of International Business Machines by 1.3% during the 1st quarter. State Street Corp now owns 53,755,675 shares of the technology company’s stock valued at $6,989,313,000 after acquiring an additional 706,994 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of International Business Machines by 7.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 16,297,545 shares of the technology company’s stock valued at $2,119,007,000 after acquiring an additional 1,105,170 shares during the period. Finally, Norges Bank bought a new position in shares of International Business Machines during the 4th quarter valued at approximately $1,025,028,000. 55.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, August 31st. Morgan Stanley dropped their price target on International Business Machines from $157.00 to $155.00 and set an “overweight” rating for the company in a research note on Tuesday, July 19th. Credit Suisse Group upped their price target on International Business Machines from $156.00 to $163.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 17th. Societe Generale dropped their price target on International Business Machines to $129.00 in a research note on Tuesday, September 13th. Finally, BMO Capital Markets dropped their price target on International Business Machines from $152.00 to $148.00 in a research note on Tuesday, July 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $145.18.

International Business Machines Price Performance

Shares of IBM traded down $2.34 during mid-day trading on Friday, hitting $122.97. 88,263 shares of the stock were exchanged, compared to its average volume of 3,566,598. The company has a market cap of $111.06 billion, a PE ratio of 20.06, a price-to-earnings-growth ratio of 1.91 and a beta of 0.84. International Business Machines Co. has a 52-week low of $114.56 and a 52-week high of $146.00. The firm has a 50-day moving average of $130.85 and a two-hundred day moving average of $132.93. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.82 and a current ratio of 0.88.

International Business Machines (NYSE:IBMGet Rating) last issued its quarterly earnings data on Monday, July 18th. The technology company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.02. International Business Machines had a return on equity of 43.52% and a net margin of 8.72%. The business had revenue of $15.54 billion for the quarter, compared to analysts’ expectations of $15.18 billion. During the same period in the prior year, the firm earned $2.33 EPS. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, equities analysts predict that International Business Machines Co. will post 9.39 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, September 10th. Investors of record on Wednesday, August 10th were issued a dividend of $1.65 per share. The ex-dividend date of this dividend was Tuesday, August 9th. This represents a $6.60 annualized dividend and a yield of 5.37%. International Business Machines’s payout ratio is presently 107.14%.

Insider Activity at International Business Machines

In related news, Director David N. Farr purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were bought at an average price of $125.00 per share, for a total transaction of $125,000.00. Following the acquisition, the director now owns 1,000 shares of the company’s stock, valued at approximately $125,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.04% of the stock is currently owned by insiders.

About International Business Machines

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International Business Machines Corporation provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions, such as Red Hat, an enterprise open-source solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.

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

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