Levin Capital Strategies L.P. Sells 39,307 Shares of International Business Machines Co. (NYSE:IBM)

Levin Capital Strategies L.P. lowered its holdings in International Business Machines Co. (NYSE:IBM) by 16.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 200,041 shares of the technology company’s stock after selling 39,307 shares during the quarter. 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 SEC filing.

Several other large investors have also added to or reduced their stakes in IBM. Morgan Stanley grew its position in International Business Machines by 22.6% during the first quarter. Morgan Stanley now owns 12,082,219 shares of the technology company’s stock valued at $1,610,076,000 after buying an additional 2,228,318 shares during the period. Renaissance Technologies LLC grew its position in International Business Machines by 399.5% during the first quarter. Renaissance Technologies LLC now owns 1,391,514 shares of the technology company’s stock valued at $185,433,000 after buying an additional 1,112,914 shares during the period. Arrowstreet Capital Limited Partnership grew its position in International Business Machines by 32.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,623,563 shares of the technology company’s stock valued at $482,876,000 after buying an additional 883,128 shares during the period. Schroder Investment Management Group grew its position in International Business Machines by 41.0% during the first quarter. Schroder Investment Management Group now owns 1,580,249 shares of the technology company’s stock valued at $210,583,000 after buying an additional 459,518 shares during the period. Finally, Russell Investments Group Ltd. grew its position in International Business Machines by 107.4% during the first quarter. Russell Investments Group Ltd. now owns 809,175 shares of the technology company’s stock valued at $107,949,000 after buying an additional 419,075 shares during the period. Hedge funds and other institutional investors own 55.24% of the company’s stock.

Shares of IBM stock opened at $134.63 on Thursday. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.84 and a quick ratio of 0.79. The firm’s 50-day moving average is $139.83 and its two-hundred day moving average is $140.07. International Business Machines Co. has a 12 month low of $105.92 and a 12 month high of $152.84. The company has a market capitalization of $120.67 billion, a PE ratio of 22.70, a price-to-earnings-growth ratio of 1.56 and a beta of 1.22.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Sunday, July 18th. The technology company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.04. The business had revenue of $18.75 billion for the quarter, compared to the consensus estimate of $18.30 billion. International Business Machines had a net margin of 7.17% and a return on equity of 36.79%. The business’s revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.18 EPS. Sell-side analysts forecast that International Business Machines Co. will post 10.82 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Tuesday, August 10th were paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 4.87%. The ex-dividend date of this dividend was Monday, August 9th. International Business Machines’s dividend payout ratio (DPR) is 75.66%.

Several analysts have recently issued reports on IBM shares. BMO Capital Markets lifted their target price 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. Societe Generale raised shares of International Business Machines from a “sell” rating to a “hold” rating and raised their price target for the stock from $121.00 to $140.00 in a research note on Tuesday, July 20th. Finally, Citigroup raised their price target on shares of International Business Machines from $140.00 to $150.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines currently has an average rating of “Hold” and a consensus target price of $149.86.

International Business Machines Profile

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

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