Gotham Asset Management LLC Sells 58,321 Shares of International Business Machines Corporation (IBM)

Gotham Asset Management LLC trimmed its holdings in International Business Machines Corporation (NYSE:IBM) by 37.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 96,208 shares of the technology company’s stock after selling 58,321 shares during the period. Gotham Asset Management LLC’s holdings in International Business Machines Corporation were worth $16,754,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. CKW Financial Group raised its holdings 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 acquiring an additional 121 shares in the last quarter. Grisanti Capital Management LLC grew its position in International Business Machines Corporation by 2.0% during the 1st quarter. Grisanti Capital Management LLC now owns 1,027 shares of the technology company’s stock worth $179,000 after acquiring an additional 20 shares during the last quarter. Capital Management Associates NY bought a new stake in International Business Machines Corporation during the 1st quarter worth $200,000. Chicago Equity Partners LLC bought a new stake in International Business Machines Corporation during the 1st quarter worth $207,000. Finally, Retirement Planning Group acquired a new position in International Business Machines Corporation during the 1st quarter worth about $212,000. 57.94% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have recently issued reports on the company. BidaskClub raised International Business Machines Corporation from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Cleveland Research started coverage on International Business Machines Corporation in a research note on Thursday, June 22nd. They issued a “neutral” rating on the stock. Cantor Fitzgerald reaffirmed a “hold” rating and set a $154.00 price target (down from $166.00) on shares of International Business Machines Corporation in a research note on Wednesday, July 19th. Argus reaffirmed a “buy” rating and set a $175.00 price target (down from $192.00) on shares of International Business Machines Corporation in a research note on Friday, July 21st. Finally, UBS AG reaffirmed a “neutral” rating and set a $159.00 price target (down from $167.00) on shares of International Business Machines Corporation in a research note on Saturday, July 22nd. Seven research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $157.12.

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Shares of International Business Machines Corporation (NYSE IBM) traded down 0.49% during mid-day trading on Friday, reaching $144.82. 7,397,233 shares of the company’s stock traded hands. International Business Machines Corporation has a 12-month low of $139.13 and a 12-month high of $182.79. The firm has a market capitalization of $134.96 billion, a price-to-earnings ratio of 11.99 and a beta of 0.97. The stock has a 50-day moving average price of $143.19 and a 200 day moving average price of $156.45.

International Business Machines Corporation (NYSE:IBM) last announced its quarterly earnings data on Tuesday, July 18th. The technology company reported $2.97 EPS for the quarter, topping the Zacks’ consensus estimate of $2.74 by $0.23. International Business Machines Corporation had a net margin of 14.58% and a return on equity of 71.53%. The company had revenue of $19.29 billion during the quarter, compared to the consensus estimate of $19.45 billion. During the same quarter in the prior year, the firm earned $2.95 EPS. International Business Machines Corporation’s quarterly revenue was down 4.7% on a year-over-year basis. Analysts anticipate that International Business Machines Corporation will post $13.76 EPS for the current fiscal year.

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

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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