Foster & Motley Inc. Cuts Position in International Business Machines Corp. (NYSE:IBM)

Foster & Motley Inc. trimmed its stake in International Business Machines Corp. (NYSE:IBM) by 9.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,918 shares of the technology company’s stock after selling 1,803 shares during the period. Foster & Motley Inc.’s holdings in International Business Machines were worth $2,454,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Herndon Capital Management LLC increased its stake in International Business Machines by 39.0% during the 2nd quarter. Herndon Capital Management LLC now owns 695 shares of the technology company’s stock valued at $107,000 after purchasing an additional 195 shares in the last quarter. Edge Wealth Management LLC increased its stake in International Business Machines by 5.6% during the 2nd quarter. Edge Wealth Management LLC now owns 760 shares of the technology company’s stock valued at $117,000 after purchasing an additional 40 shares in the last quarter. ETF Managers Group LLC bought a new stake in International Business Machines during the 2nd quarter valued at about $121,000. Peddock Capital Advisors LLC increased its stake in International Business Machines by 7.3% during the 2nd quarter. Peddock Capital Advisors LLC now owns 912 shares of the technology company’s stock valued at $140,000 after purchasing an additional 62 shares in the last quarter. Finally, Horan Securities Inc. increased its stake in International Business Machines by 845.5% during the 2nd quarter. Horan Securities Inc. now owns 936 shares of the technology company’s stock valued at $144,000 after purchasing an additional 837 shares in the last quarter. 57.11% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently commented on the stock. Societe Generale set a $152.00 price target on shares of International Business Machines and gave the stock a “sell” rating in a research note on Friday. BMO Capital Markets reiterated a “hold” rating and issued a $175.00 price target on shares of International Business Machines in a research note on Thursday. They noted that the move was a valuation call. Oppenheimer reissued a “hold” rating on shares of International Business Machines in a report on Wednesday, October 18th. ValuEngine raised shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Royal Bank of Canada raised shares of International Business Machines from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $160.00 to $180.00 in a report on Wednesday, January 3rd. They noted that the move was a valuation call. Seven equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have issued a buy rating to the stock. International Business Machines has a consensus rating of “Hold” and an average price target of $159.90.

International Business Machines Corp. (IBM) traded down $1.06 during trading hours on Friday, reaching $163.14. 5,007,300 shares of the company were exchanged, compared to its average volume of 4,810,000. The stock has a market capitalization of $151,030.00, a price-to-earnings ratio of 13.62, a PEG ratio of 2.39 and a beta of 0.94. International Business Machines Corp. has a 52 week low of $139.13 and a 52 week high of $182.79. The company has a current ratio of 1.41, a quick ratio of 1.36 and a debt-to-equity ratio of 2.09.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Tuesday, October 17th. The technology company reported $3.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.28 by $0.02. The business had revenue of $19.15 billion during the quarter, compared to analyst estimates of $18.63 billion. International Business Machines had a net margin of 14.43% and a return on equity of 68.68%. The company’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the firm posted $3.29 earnings per share. sell-side analysts predict that International Business Machines Corp. will post 13.78 EPS for the current fiscal year.

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International Business Machines Company Profile

International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.

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

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