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Kornitzer Capital Management Inc. KS decreased its stake in shares of International Business Machines Co. (NYSE:IBM – Get Rating) by 0.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 271,431 shares of the technology company’s stock after selling 755 shares during the period. International Business Machines makes up 0.7% of Kornitzer Capital Management Inc. KS’s investment portfolio, making the stock its 27th largest holding. Kornitzer Capital Management Inc. KS’s holdings in International Business Machines were worth $32,249,000 as of its most recent filing with the Securities and Exchange Commission.
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Several other hedge funds and other institutional investors also recently modified their holdings of the stock. BCR Wealth Strategies LLC bought a new stake in International Business Machines during the 2nd quarter valued at approximately $25,000. Canton Hathaway LLC bought a new stake in shares of International Business Machines during the second quarter valued at approximately $31,000. Win Advisors Inc. grew its stake in International Business Machines by 52.3% in the second quarter. Win Advisors Inc. now owns 236 shares of the technology company’s stock worth $33,000 after purchasing an additional 81 shares during the period. EdgeRock Capital LLC bought a new position in International Business Machines in the third quarter worth $36,000. Finally, Total Clarity Wealth Management Inc. purchased a new position in International Business Machines during the second quarter valued at $37,000. Hedge funds and other institutional investors own 55.90% of the company’s stock.
Insider Buying and Selling at International Business Machines
In related news, VP Bene Robert F. Del sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $148.36, for a total value of $445,080.00. Following the transaction, the vice president now owns 14,553 shares of the company’s stock, valued at $2,159,083.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.04% of the stock is owned by corporate insiders.
International Business Machines Stock Performance
NYSE:IBM traded up $0.80 during mid-day trading on Friday, reaching $141.42. The company’s stock had a trading volume of 48,072 shares, compared to its average volume of 3,540,994. The company has a current ratio of 0.95, a quick ratio of 0.89 and a debt-to-equity ratio of 2.23. The stock has a market cap of $127.86 billion, a P/E ratio of 102.64, a PEG ratio of 2.27 and a beta of 0.89. The firm’s fifty day moving average price is $144.76 and its two-hundred day moving average price is $135.52. International Business Machines Co. has a 12-month low of $115.54 and a 12-month high of $153.21.
International Business Machines (NYSE:IBM – Get Rating) last issued its quarterly earnings data on Wednesday, October 19th. The technology company reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.03. International Business Machines had a net margin of 2.08% and a return on equity of 41.50%. The company had revenue of $14.11 billion for the quarter, compared to the consensus estimate of $13.55 billion. During the same quarter in the prior year, the firm earned $2.52 earnings per share. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equities analysts forecast that International Business Machines Co. will post 9.12 EPS for the current fiscal year.
International Business Machines Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Saturday, December 10th. Investors of record on Thursday, November 10th were given a dividend of $1.65 per share. This represents a $6.60 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date of this dividend was Wednesday, November 9th. International Business Machines’s dividend payout ratio (DPR) is presently 481.76%.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on IBM shares. Stifel Nicolaus decreased their price target on shares of International Business Machines from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, October 17th. Moffett Nathanson raised shares of International Business Machines from an “underperform” rating to a “market perform” rating and set a $140.00 target price for the company in a research note on Thursday. Morgan Stanley cut International Business Machines from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $152.00 to $148.00 in a research report on Wednesday. Bank of America reduced their price objective on International Business Machines from $155.00 to $145.00 in a research report on Tuesday, October 18th. Finally, Evercore ISI increased their target price on International Business Machines from $135.00 to $150.00 in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $140.50.
International Business Machines Company Profile
International Business Machines Corporation provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions, such as Red Hat, an enterprise open-source solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.
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