Levin Capital Strategies L.P. lowered its stake in International Business Machines Co. (NYSE:IBM) by 16.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 200,041 shares of the technology company’s stock after selling 39,307 shares during the period. International Business Machines accounts for 3.0% of Levin Capital Strategies L.P.’s holdings, making the stock its 7th biggest position. Levin Capital Strategies L.P.’s holdings in International Business Machines were worth $29,324,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. AGF Investments LLC raised its holdings in shares of International Business Machines by 369.1% in the first quarter. AGF Investments LLC now owns 258 shares of the technology company’s stock worth $34,000 after buying an additional 203 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. acquired a new stake in shares of International Business Machines in the second quarter worth $47,000. Corsicana & Co. acquired a new stake in shares of International Business Machines in the second quarter worth $55,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in International Business Machines during the first quarter valued at $52,000. Finally, Sage Financial Management Group Inc. acquired a new stake in International Business Machines during the first quarter valued at $52,000. 55.24% of the stock is owned by institutional investors and hedge funds.
IBM has been the topic of several analyst reports. BMO Capital Markets raised their price target on shares of International Business Machines from $150.00 to $155.00 and gave the company a “market perform” rating in a research report on Friday, July 16th. Morgan Stanley lifted their target price on shares of International Business Machines from $152.00 to $164.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 20th. Citigroup lifted their target price on shares of International Business Machines from $140.00 to $150.00 and gave the company a “neutral” rating in a research report on Tuesday, July 20th. Finally, Societe Generale upgraded shares of International Business Machines from a “sell” rating to a “hold” rating and lifted their target price for the company from $121.00 to $140.00 in a research report on Tuesday, July 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $149.86.
International Business Machines (NYSE:IBM) last issued its earnings results on Sunday, July 18th. The technology company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.04. International Business Machines had a net margin of 7.17% and a return on equity of 36.79%. The company had revenue of $18.75 billion for the quarter, compared to the consensus estimate of $18.30 billion. During the same period in the previous year, the firm earned $2.18 earnings per share. International Business Machines’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, analysts expect that International Business Machines Co. will post 10.82 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 10th. Shareholders of record on Tuesday, August 10th were paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 4.87%. The ex-dividend date of this dividend was Monday, August 9th. International Business Machines’s dividend payout ratio (DPR) is presently 75.66%.
About International Business Machines
International Business Machines Corp. is an information technology company, which provides integrated solutions that leverage information technology and knowledge of business processes. It operates through the following segments: Cloud and Cognitive Software, Global Business Services, Global Technology Services, Systems, and Global Financing.
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