International Business Machines Corporation (NYSE:IBM) Stake Increased by Argus Investors Counsel Inc.

Argus Investors Counsel Inc. boosted its position in shares of International Business Machines Corporation (NYSE:IBM) by 10.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,876 shares of the technology company’s stock after acquiring an additional 2,651 shares during the period. Argus Investors Counsel Inc.’s holdings in International Business Machines Corporation were worth $4,134,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Horan Securities Inc. lifted its position in shares of International Business Machines Corporation by 845.5% during the 2nd quarter. Horan Securities Inc. now owns 936 shares of the technology company’s stock worth $144,000 after buying an additional 837 shares during the last quarter. Proficio Capital Partners LLC raised its position in 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 valued at $146,000 after purchasing an additional 441 shares during the last quarter. CKW Financial Group raised its position in International Business Machines Corporation by 14.8% in the 1st quarter. CKW Financial Group now owns 938 shares of the technology company’s stock valued at $163,000 after purchasing an additional 121 shares during the last quarter. Grisanti Capital Management LLC raised its position in International Business Machines Corporation by 2.0% in the 1st quarter. Grisanti Capital Management LLC now owns 1,027 shares of the technology company’s stock valued at $179,000 after purchasing an additional 20 shares during the last quarter. Finally, Capital Management Associates NY purchased a new stake in International Business Machines Corporation in the 1st quarter valued at $200,000. Institutional investors own 57.94% of the company’s stock.

A number of equities analysts have commented on the stock. Stifel Nicolaus restated a “buy” rating and set a $182.00 price objective on shares of International Business Machines Corporation in a research report on Friday, July 21st. BidaskClub upgraded shares of International Business Machines Corporation from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. Vetr raised shares of International Business Machines Corporation from a “sell” rating to a “hold” rating and set a $150.26 price target on the stock in a research note on Monday, July 3rd. Credit Suisse Group reaffirmed an “underperform” rating and set a $110.00 price target (down from $125.00) on shares of International Business Machines Corporation in a research note on Monday, July 17th. Finally, Drexel Hamilton reaffirmed a “buy” rating and set a $200.00 price target on shares of International Business Machines Corporation in a research note on Tuesday, July 18th. Seven analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have issued a buy rating to the company’s stock. International Business Machines Corporation presently has an average rating of “Hold” and a consensus target price of $157.12.

Shares of International Business Machines Corporation (NYSE IBM) opened at 144.82 on Friday. The stock’s 50 day moving average is $143.19 and its 200-day moving average is $156.45. International Business Machines Corporation has a 52-week low of $139.13 and a 52-week high of $182.79. The firm has a market cap of $134.96 billion, a P/E ratio of 12.02 and a beta of 0.97.

International Business Machines Corporation (NYSE:IBM) last issued its quarterly earnings results on Tuesday, July 18th. The technology company reported $2.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.74 by $0.23. International Business Machines Corporation had a return on equity of 71.53% and a net margin of 14.58%. The business had revenue of $19.29 billion for the quarter, compared to analyst estimates of $19.45 billion. During the same quarter in the prior year, the firm posted $2.95 earnings per share. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. Equities analysts anticipate that International Business Machines Corporation will post $13.76 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Saturday, September 9th. Shareholders of record on Thursday, August 10th were paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend was Tuesday, August 8th. International Business Machines Corporation’s payout ratio is 49.88%.

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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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