Utah Retirement Systems Sells 3,800 Shares of International Business Machines Corporation (IBM)

Utah Retirement Systems lowered its position in shares of International Business Machines Corporation (NYSE:IBM) by 2.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 157,561 shares of the technology company’s stock after selling 3,800 shares during the quarter. Utah Retirement Systems’ holdings in International Business Machines Corporation were worth $24,237,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Herndon Capital Management LLC raised its position in shares of International Business Machines Corporation by 39.0% in the 2nd quarter. Herndon Capital Management LLC now owns 695 shares of the technology company’s stock worth $107,000 after purchasing an additional 195 shares during the last quarter. Edge Wealth Management LLC raised its position in shares of International Business Machines Corporation by 5.6% in the 2nd quarter. Edge Wealth Management LLC now owns 760 shares of the technology company’s stock worth $117,000 after purchasing an additional 40 shares during the last quarter. Peddock Capital Advisors LLC raised its position in shares of International Business Machines Corporation by 7.3% in the 2nd quarter. Peddock Capital Advisors LLC now owns 912 shares of the technology company’s stock worth $140,000 after purchasing an additional 62 shares during the last quarter. Horan Securities Inc. raised its position in shares of International Business Machines Corporation by 845.5% in the 2nd quarter. Horan Securities Inc. now owns 936 shares of the technology company’s stock worth $144,000 after purchasing an additional 837 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its position in shares of International Business Machines Corporation by 85.1% in the 1st quarter. Proficio Capital Partners LLC now owns 959 shares of the technology company’s stock worth $146,000 after purchasing an additional 441 shares during the last quarter. 58.25% of the stock is owned by institutional investors and hedge funds.

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Several research firms have recently issued reports on IBM. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $160.00 price target on shares of International Business Machines Corporation in a research report on Wednesday. Wedbush reaffirmed a “neutral” rating and issued a $155.00 price target on shares of International Business Machines Corporation in a research report on Wednesday, August 9th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of International Business Machines Corporation in a research report on Wednesday, October 18th. ValuEngine raised International Business Machines Corporation from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, UBS AG reaffirmed a “neutral” rating and issued a $160.00 price target (up previously from $152.00) on shares of International Business Machines Corporation in a research report on Wednesday, October 18th. Eight equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $158.90.

International Business Machines Corporation (IBM) opened at $148.89 on Wednesday. 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 Corporation has a twelve month low of $139.13 and a twelve month high of $182.79. The company has a market capitalization of $137,387.44, a P/E ratio of 10.86, a P/E/G ratio of 2.17 and a beta of 0.94.

International Business Machines Corporation (NYSE:IBM) last posted its quarterly earnings results on Tuesday, October 17th. The technology company reported $3.30 EPS for the quarter, topping the Zacks’ consensus estimate of $3.28 by $0.02. The company had revenue of $19.15 billion for the quarter, compared to analysts’ expectations of $18.63 billion. International Business Machines Corporation had a return on equity of 68.68% and a net margin of 14.43%. The firm’s revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.29 EPS. analysts anticipate that International Business Machines Corporation will post 13.8 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 9th. Stockholders of record on Friday, November 10th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $6.00 annualized dividend and a dividend yield of 4.03%. International Business Machines Corporation’s dividend payout ratio (DPR) is 50.13%.

International Business Machines Corporation announced that its Board of Directors has initiated a stock buyback program on Tuesday, October 31st that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the technology company to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

About International Business Machines Corporation

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.

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

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