Folger Nolan Fleming Douglas Capital Management Inc. lowered its position in International Business Machines Co. (NYSE:IBM – Get Rating) by 11.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,267 shares of the technology company’s stock after selling 1,807 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in International Business Machines were worth $2,014,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently made changes to their positions in the company. Lannebo Fonder AB increased its stake in shares of International Business Machines by 10.0% in the second quarter. Lannebo Fonder AB now owns 220,000 shares of the technology company’s stock valued at $31,062,000 after purchasing an additional 20,000 shares during the period. McKinley Carter Wealth Services Inc. acquired a new stake in shares of International Business Machines in the second quarter valued at approximately $285,000. Joel Isaacson & Co. LLC increased its stake in shares of International Business Machines by 10.3% during the second quarter. Joel Isaacson & Co. LLC now owns 9,989 shares of the technology company’s stock valued at $1,410,000 after acquiring an additional 930 shares during the period. Westshore Wealth LLC acquired a new position in shares of International Business Machines during the second quarter valued at approximately $494,000. Finally, Uncommon Cents Investing LLC increased its stake in shares of International Business Machines by 2.1% during the second quarter. Uncommon Cents Investing LLC now owns 5,875 shares of the technology company’s stock valued at $829,000 after acquiring an additional 120 shares during the period. Institutional investors and hedge funds own 55.52% of the company’s stock.
Insider Buying and Selling
In other news, Director David N. Farr acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The stock was purchased at an average price of $125.00 per share, with a total value of $125,000.00. Following the purchase, the director now owns 1,000 shares of the company’s stock, valued at approximately $125,000. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.04% of the company’s stock.
International Business Machines Price Performance
International Business Machines (NYSE:IBM – Get Rating) last posted its quarterly earnings data on Monday, July 18th. The technology company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.02. International Business Machines had a net margin of 8.72% and a return on equity of 43.52%. The firm had revenue of $15.54 billion during the quarter, compared to analyst estimates of $15.18 billion. During the same quarter last year, the business posted $2.33 EPS. The company’s revenue was up 9.3% on a year-over-year basis. Sell-side analysts expect that International Business Machines Co. will post 9.39 EPS for the current fiscal year.
International Business Machines Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Saturday, September 10th. Investors of record on Wednesday, August 10th were paid a $1.65 dividend. This represents a $6.60 dividend on an annualized basis and a yield of 5.39%. The ex-dividend date was Tuesday, August 9th. International Business Machines’s dividend payout ratio is 107.14%.
Analyst Ratings Changes
IBM has been the topic of a number of research analyst reports. Morgan Stanley lowered their price objective on shares of International Business Machines from $157.00 to $155.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 19th. Societe Generale lowered their price objective on shares of International Business Machines to $129.00 in a research note on Tuesday, September 13th. BMO Capital Markets lowered their price objective on shares of International Business Machines from $152.00 to $148.00 in a research note on Tuesday, July 19th. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, August 31st. Finally, Credit Suisse Group raised their price objective on shares of International Business Machines from $156.00 to $163.00 and gave the company an “outperform” rating in a research note on Wednesday, August 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, International Business Machines currently has an average rating of “Hold” and a consensus target price of $145.18.
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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