Papp L Roy & Associates Decreases Position in International Business Machines Corporation (IBM)

Papp L Roy & Associates reduced its stake in International Business Machines Corporation (NYSE:IBM) by 5.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,459 shares of the technology company’s stock after selling 800 shares during the period. Papp L Roy & Associates’ holdings in International Business Machines Corporation were worth $2,070,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Harbour Capital Advisors LLC raised its holdings in shares of International Business Machines Corporation by 14,730.9% during the second quarter. Harbour Capital Advisors LLC now owns 483,488 shares of the technology company’s stock valued at $3,143,000 after buying an additional 480,228 shares during the last quarter. Bank of Nova Scotia raised its holdings in shares of International Business Machines Corporation by 668.8% during the first quarter. Bank of Nova Scotia now owns 492,007 shares of the technology company’s stock valued at $85,677,000 after buying an additional 428,011 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of International Business Machines Corporation by 31.9% during the first quarter. AQR Capital Management LLC now owns 1,531,243 shares of the technology company’s stock valued at $266,651,000 after buying an additional 370,700 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of International Business Machines Corporation by 70.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 646,799 shares of the technology company’s stock valued at $112,830,000 after buying an additional 267,588 shares during the last quarter. Finally, APG Asset Management N.V. raised its holdings in shares of International Business Machines Corporation by 11.6% during the second quarter. APG Asset Management N.V. now owns 2,527,501 shares of the technology company’s stock valued at $388,805,000 after buying an additional 261,720 shares during the last quarter. Institutional investors own 57.88% of the company’s stock.

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International Business Machines Corporation (NYSE IBM) opened at 147.62 on Thursday. The company has a market cap of $137.57 billion, a P/E ratio of 12.25 and a beta of 0.95. The stock has a 50 day moving average of $144.97 and a 200-day moving average of $152.25. International Business Machines Corporation has a 12 month low of $139.13 and a 12 month high of $182.79.

International Business Machines Corporation (NYSE:IBM) last announced its earnings results on Tuesday, July 18th. The technology company reported $2.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.74 by $0.23. The company had revenue of $19.29 billion during the quarter, compared to the consensus estimate of $19.45 billion. International Business Machines Corporation had a net margin of 14.58% and a return on equity of 71.53%. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.95 earnings per share. Equities research analysts expect that International Business Machines Corporation will post $13.77 EPS for the current year.

A number of equities research analysts have recently weighed in on IBM shares. Vetr raised International Business Machines Corporation from a “sell” rating to a “hold” rating and set a $150.26 price target on the stock in a report on Monday, June 19th. Cleveland Research started coverage on International Business Machines Corporation in a report on Thursday, June 22nd. They set a “neutral” rating on the stock. Royal Bank Of Canada reaffirmed a “hold” rating and set a $165.00 price target on shares of International Business Machines Corporation in a report on Wednesday, July 12th. Jefferies Group LLC reissued an “underperform” rating and set a $125.00 target price (down previously from $135.00) on shares of International Business Machines Corporation in a report on Wednesday, July 12th. Finally, Guggenheim reissued a “hold” rating on shares of International Business Machines Corporation in a report on Friday, July 14th. Seven equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $157.12.

International Business Machines Corporation 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 Corporation (NYSE:IBM)

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