International Business Machines Co. (NYSE:IBM) Shares Sold by Jump Financial LLC

Jump Financial LLC reduced its holdings in International Business Machines Co. (NYSE:IBM) by 47.6% during the 2nd quarter, Holdings Channel reports. The fund owned 7,236 shares of the technology company’s stock after selling 6,572 shares during the quarter. Jump Financial LLC’s holdings in International Business Machines were worth $1,061,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the business. AGF Investments LLC raised its holdings in International Business Machines by 369.1% during the first quarter. AGF Investments LLC now owns 258 shares of the technology company’s stock worth $34,000 after purchasing an additional 203 shares in the last quarter. Samalin Investment Counsel LLC bought a new position in International Business Machines during the second quarter valued at about $42,000. Sumitomo Mitsui Financial Group Inc. acquired a new position in International Business Machines during the second quarter worth about $47,000. Bradley & Co. Private Wealth Management LLC bought a new stake in International Business Machines in the first quarter worth about $52,000. Finally, Corsicana & Co. acquired a new stake in International Business Machines in the 2nd quarter valued at about $55,000. 55.24% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:IBM opened at $140.76 on Thursday. The stock has a market cap of $126.17 billion, a PE ratio of 23.74, a price-to-earnings-growth ratio of 1.56 and a beta of 1.22. International Business Machines Co. has a fifty-two week low of $105.92 and a fifty-two week high of $152.84. 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 stock’s 50-day moving average is $139.65 and its two-hundred day moving average is $141.27.

International Business Machines (NYSE:IBM) last released its earnings results on Sunday, July 18th. The technology company reported $2.33 earnings per share (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 during the quarter, compared to the consensus estimate of $18.30 billion. During the same quarter in the prior year, the firm earned $2.18 EPS. The company’s revenue was up 3.4% compared to the same quarter last year. On average, equities research analysts anticipate that International Business Machines Co. will post 10.82 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 10th. Investors of record on Tuesday, August 10th were given a dividend of $1.64 per share. The ex-dividend date of this dividend was Monday, August 9th. This represents a $6.56 dividend on an annualized basis and a yield of 4.66%. International Business Machines’s payout ratio is 75.66%.

Several analysts recently commented on the stock. Societe Generale raised shares of International Business Machines from a “sell” rating to a “hold” rating and increased their target price for the company from $121.00 to $140.00 in a research note on Tuesday, July 20th. BMO Capital Markets lifted their target price on International Business Machines from $150.00 to $155.00 and gave the stock a “market perform” rating in a report on Friday, July 16th. Credit Suisse Group upped their target price on International Business Machines from $167.00 to $176.00 and gave the company an “outperform” rating in a report on Tuesday, October 5th. Citigroup boosted their price objective on International Business Machines from $140.00 to $150.00 and gave the stock a “neutral” rating in a report on Tuesday, July 20th. Finally, Jefferies Financial Group started coverage on shares of International Business Machines in a report on Friday, October 1st. They issued a “buy” rating and a $170.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and a consensus target price of $153.75.

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

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