Darwin Advisors LLC Sells 3,686 Shares of International Business Machines Co. (NYSE:IBM)

Darwin Advisors LLC reduced its stake in shares of International Business Machines Co. (NYSE:IBM) by 18.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 16,197 shares of the technology company’s stock after selling 3,686 shares during the period. Darwin Advisors LLC’s holdings in International Business Machines were worth $1,970,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. lifted its holdings in shares of International Business Machines by 3.2% during the 2nd quarter. Bessemer Group Inc. now owns 985,759 shares of the technology company’s stock worth $119,048,000 after acquiring an additional 30,225 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of International Business Machines by 2.5% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 726,451 shares of the technology company’s stock worth $87,733,000 after acquiring an additional 17,929 shares during the last quarter. Gulf International Bank UK Ltd lifted its holdings in shares of International Business Machines by 0.9% during the 2nd quarter. Gulf International Bank UK Ltd now owns 215,315 shares of the technology company’s stock worth $26,003,000 after acquiring an additional 1,956 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in International Business Machines by 24.5% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 208,892 shares of the technology company’s stock worth $25,228,000 after purchasing an additional 41,040 shares during the last quarter. Finally, Mutual of America Capital Management LLC lifted its stake in International Business Machines by 0.4% in the second quarter. Mutual of America Capital Management LLC now owns 121,125 shares of the technology company’s stock worth $14,628,000 after purchasing an additional 424 shares during the last quarter. 56.11% of the stock is owned by institutional investors.

Several analysts have weighed in on IBM shares. Citigroup boosted their price target on shares of International Business Machines from $120.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 21st. Bank of America reissued a “buy” rating and issued a $145.00 price target on shares of International Business Machines in a research note on Monday, July 20th. JPMorgan Chase & Co. boosted their price target on shares of International Business Machines from $135.00 to $148.00 and gave the stock a “neutral” rating in a research note on Monday, August 17th. Credit Suisse Group boosted their price target on shares of International Business Machines from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 21st. Finally, ValuEngine raised shares of International Business Machines from a “sell” rating to a “hold” rating in a research note on Thursday, October 8th. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $139.88.

In other news, SVP Diane J. Gherson sold 1,215 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $127.00, for a total value of $154,305.00. Following the transaction, the senior vice president now owns 30,597 shares in the company, valued at $3,885,819. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Diane J. Gherson sold 1,176 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $126.73, for a total transaction of $149,034.48. Following the completion of the transaction, the senior vice president now owns 31,767 shares in the company, valued at approximately $4,025,831.91. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate insiders.

Shares of NYSE IBM opened at $125.93 on Friday. International Business Machines Co. has a 1 year low of $90.56 and a 1 year high of $158.75. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.04 and a quick ratio of 0.99. The company’s 50-day moving average is $122.93 and its 200 day moving average is $122.15. The stock has a market capitalization of $112.15 billion, a P/E ratio of 14.29, a P/E/G ratio of 3.51 and a beta of 1.16.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Monday, July 20th. The technology company reported $2.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.14 by $0.04. The business had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.72 billion. International Business Machines had a net margin of 10.44% and a return on equity of 51.06%. The business’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.17 earnings per share. Research analysts anticipate that International Business Machines Co. will post 11.06 earnings per share for the current year.

International Business Machines Profile

International Business Machines Corporation operates as an integrated solutions and services company worldwide. Its Cloud & Cognitive Software segment offers software for vertical and domain-specific solutions in health, financial services, and Internet of Things (IoT), weather, and security software and services application areas; and customer information control system and storage, and analytics and integration software solutions to support client mission critical on-premise workloads in banking, airline, and retail industries.

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

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