International Business Machines Corporation (IBM) Shares Sold by Summit Financial Wealth Advisors LLC

Summit Financial Wealth Advisors LLC reduced its stake in International Business Machines Corporation (NYSE:IBM) by 26.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,763 shares of the technology company’s stock after selling 631 shares during the period. Summit Financial Wealth Advisors LLC’s holdings in International Business Machines were worth $271,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in International Business Machines by 3.7% in the 2nd quarter. Vanguard Group Inc. now owns 62,228,040 shares of the technology company’s stock worth $9,572,538,000 after acquiring an additional 2,241,818 shares in the last quarter. BlackRock Inc. grew its stake in International Business Machines by 2.4% in the 2nd quarter. BlackRock Inc. now owns 52,936,360 shares of the technology company’s stock worth $8,143,204,000 after acquiring an additional 1,241,441 shares in the last quarter. State Street Corp grew its stake in International Business Machines by 0.4% in the 1st quarter. State Street Corp now owns 51,198,962 shares of the technology company’s stock worth $8,915,788,000 after acquiring an additional 181,993 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in International Business Machines by 3.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 4,651,213 shares of the technology company’s stock worth $715,497,000 after acquiring an additional 134,862 shares in the last quarter. Finally, Swiss National Bank grew its stake in International Business Machines by 2.9% in the 2nd quarter. Swiss National Bank now owns 3,534,977 shares of the technology company’s stock worth $543,786,000 after acquiring an additional 100,700 shares in the last quarter. Institutional investors and hedge funds own 57.26% of the company’s stock.

A number of equities analysts have commented on the stock. Vetr upgraded shares of International Business Machines from a “buy” rating to a “strong-buy” rating and set a $173.45 target price on the stock in a research note on Wednesday. Tigress Financial reiterated a “buy” rating on shares of International Business Machines in a research note on Friday, December 1st. Royal Bank Of Canada reiterated a “hold” rating and set a $160.00 price objective on shares of International Business Machines in a research note on Wednesday, November 15th. KeyCorp reiterated a “hold” rating on shares of International Business Machines in a research note on Friday, November 3rd. Finally, Pivotal Research started coverage on shares of International Business Machines in a research note on Friday, October 27th. They set a “buy” rating and a $180.00 price objective on the stock. Eight research analysts have rated the stock with a sell rating, seventeen have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $159.24.

International Business Machines Corporation (IBM) traded up $1.24 during midday trading on Friday, hitting $154.81. 3,440,847 shares of the company’s stock were exchanged, compared to its average volume of 4,178,896. The stock has a market capitalization of $142,173.80, a PE ratio of 11.24, a P/E/G ratio of 2.25 and a beta of 0.94. International Business Machines Corporation has a fifty-two week low of $139.13 and a fifty-two week high of $182.79. The company has a current ratio of 1.41, a quick ratio of 1.36 and a debt-to-equity ratio of 2.09.

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

The business also recently declared a quarterly dividend, which will be paid on Saturday, December 9th. Shareholders of record on Friday, November 10th will be issued a $1.50 dividend. The ex-dividend date is Thursday, November 9th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.88%. International Business Machines’s dividend payout ratio is currently 50.13%.

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International Business Machines 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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