Investment Centers of America Inc. Has $1.70 Million Stake in International Business Machines Corporation (IBM)

Investment Centers of America Inc. decreased its stake in shares of International Business Machines Corporation (NYSE:IBM) by 43.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,794 shares of the technology company’s stock after selling 7,627 shares during the period. Investment Centers of America Inc.’s holdings in International Business Machines Corporation were worth $1,701,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. K.J. Harrison & Partners Inc lifted its holdings in International Business Machines Corporation by 0.4% during the first quarter. K.J. Harrison & Partners Inc now owns 1,955 shares of the technology company’s stock worth $340,000 after acquiring an additional 7 shares during the period. Arthur M. Cohen & Associates LLC lifted its holdings in International Business Machines Corporation by 0.5% during the first quarter. Arthur M. Cohen & Associates LLC now owns 1,362 shares of the technology company’s stock worth $237,000 after acquiring an additional 7 shares during the period. Financial & Investment Management Group Ltd. lifted its holdings in International Business Machines Corporation by 0.6% during the first quarter. Financial & Investment Management Group Ltd. now owns 1,958 shares of the technology company’s stock worth $341,000 after acquiring an additional 12 shares during the period. Hays Advisory LLC lifted its holdings in International Business Machines Corporation by 1.1% during the first quarter. Hays Advisory LLC now owns 1,419 shares of the technology company’s stock worth $247,000 after acquiring an additional 15 shares during the period. Finally, Gilman Hill Asset Management LLC lifted its holdings in International Business Machines Corporation by 0.4% during the first quarter. Gilman Hill Asset Management LLC now owns 3,767 shares of the technology company’s stock worth $656,000 after acquiring an additional 15 shares during the period. 57.94% of the stock is currently owned by institutional investors.

TRADEMARK VIOLATION WARNING: This news story was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this news story on another website, it was illegally copied and reposted in violation of US and international trademark & copyright laws. The original version of this news story can be viewed at https://ledgergazette.com/2017/09/17/international-business-machines-corporation-ibm-position-decreased-by-investment-centers-of-america-inc.html.

A number of analysts recently commented on IBM shares. Vetr upgraded International Business Machines Corporation from a “hold” rating to a “buy” rating and set a $159.56 price target on the stock in a report on Monday, July 10th. Stifel Nicolaus lowered their target price on International Business Machines Corporation from $192.00 to $182.00 and set a “buy” rating on the stock in a research note on Wednesday, May 24th. Drexel Hamilton restated a “buy” rating and issued a $200.00 target price on shares of International Business Machines Corporation in a research note on Tuesday, July 18th. Standpoint Research upgraded International Business Machines Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Finally, Argus restated a “buy” rating and issued a $175.00 target price (down from $192.00) on shares of International Business Machines Corporation in a research note on Friday, July 21st. Seven analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $157.12.

International Business Machines Corporation (NYSE:IBM) traded down 0.49% on Friday, reaching $144.82. The company’s stock had a trading volume of 7,397,233 shares. The company has a market capitalization of $134.96 billion, a PE ratio of 12.02 and a beta of 0.97. The firm has a 50-day moving average of $143.19 and a 200-day moving average of $156.45. International Business Machines Corporation has a one year low of $139.13 and a one year high of $182.79.

International Business Machines Corporation (NYSE:IBM) last released its quarterly earnings data on Tuesday, July 18th. The technology company reported $2.97 EPS for the quarter, beating the Zacks’ 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%. International Business Machines Corporation’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.95 EPS. Analysts predict that International Business Machines Corporation will post $13.76 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, September 9th. Shareholders of record on Thursday, August 10th were issued a $1.50 dividend. The ex-dividend date of this dividend 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%.

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.

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

Receive News & Ratings for International Business Machines Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Business Machines Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply