Folger Nolan Fleming Douglas Capital Management Inc. Has $2.01 Million Position in International Business Machines Co. (NYSE:IBM)

Folger Nolan Fleming Douglas Capital Management Inc. reduced its stake in International Business Machines Co. (NYSE:IBMGet Rating) by 11.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,267 shares of the technology company’s stock after selling 1,807 shares during the period. 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.

A number of other hedge funds also recently made changes to their positions in IBM. IFS Advisors LLC acquired a new stake in shares of International Business Machines in the 4th quarter valued at approximately $28,000. Gleason Group Inc. bought a new position in International Business Machines in the 2nd quarter valued at approximately $28,000. Parkside Investments LLC bought a new position in International Business Machines in the 1st quarter valued at approximately $31,000. SJS Investment Consulting Inc. raised its holdings in International Business Machines by 39.9% in the 1st quarter. SJS Investment Consulting Inc. now owns 270 shares of the technology company’s stock valued at $35,000 after buying an additional 77 shares during the last quarter. Finally, PrairieView Partners LLC raised its holdings in International Business Machines by 64.2% in the 1st quarter. PrairieView Partners LLC now owns 284 shares of the technology company’s stock valued at $37,000 after buying an additional 111 shares during the last quarter. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other International Business Machines news, Director David N. Farr purchased 1,000 shares of International Business Machines stock in a transaction that occurred on Thursday, September 15th. The stock was acquired at an average price of $125.00 per share, with a total value of $125,000.00. Following the transaction, the director now owns 1,000 shares in the company, valued at approximately $125,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.04% of the stock is currently owned by company insiders.

International Business Machines Trading Down 2.3 %

International Business Machines stock traded down $2.85 during mid-day trading on Friday, hitting $122.46. 140,535 shares of the stock were exchanged, compared to its average volume of 3,566,598. The company has a quick ratio of 0.82, a current ratio of 0.88 and a debt-to-equity ratio of 2.28. International Business Machines Co. has a 12 month low of $114.56 and a 12 month high of $146.00. The firm’s fifty day simple moving average is $130.85 and its two-hundred day simple moving average is $132.93. The stock has a market capitalization of $110.60 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 1.91 and a beta of 0.84.

International Business Machines (NYSE:IBMGet Rating) last released its quarterly earnings data on Monday, July 18th. The technology company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.02. The company had revenue of $15.54 billion during the quarter, compared to analyst estimates of $15.18 billion. International Business Machines had a net margin of 8.72% and a return on equity of 43.52%. International Business Machines’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.33 EPS. Analysts forecast that International Business Machines Co. will post 9.39 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, September 10th. Stockholders of record on Wednesday, August 10th were paid a $1.65 dividend. The ex-dividend date was Tuesday, August 9th. This represents a $6.60 annualized dividend and a dividend yield of 5.39%. International Business Machines’s dividend payout ratio is currently 107.14%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Morgan Stanley dropped their price objective on shares of International Business Machines from $157.00 to $155.00 and set an “overweight” rating for the company in a report on Tuesday, July 19th. BMO Capital Markets dropped their price objective on shares of International Business Machines from $152.00 to $148.00 in a report on Tuesday, July 19th. Societe Generale dropped their price objective on shares of International Business Machines to $129.00 in a report on Tuesday, September 13th. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a report 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 report on Wednesday, August 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $145.18.

International Business Machines Company Profile

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

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