The Argyle Capital Management Inc. decides to keep it stake in International Business Machines Corp. (IBM) to the level of $3,812,000

The Argyle Capital Management Inc. decides to keep it stake in International Business Machines Corp. (IBM) to the level of $3,812,000

Argyle Capital Management Inc. maintained its position in International Business Machines Corp. (NYSE:IBM) during the second quarter, Holdings Channel reports. The firm owned 25,116 shares of the technology company’s stock at the end of the second quarter. International Business Machines Corp. makes up about 1.6% of Argyle Capital Management Inc.’s investment portfolio, making the stock its 19th largest position. Argyle Capital Management Inc.’s holdings in International Business Machines Corp. were worth $3,812,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Round Table Services LLC boosted its stake in International Business Machines Corp. by 0.4% in the second quarter. Round Table Services LLC now owns 1,620 shares of the technology company’s stock worth $246,000 after buying an additional 6 shares in the last quarter. Nadler Financial Group Inc. boosted its stake in International Business Machines Corp. by 0.4% in the second quarter. Nadler Financial Group Inc. now owns 2,243 shares of the technology company’s stock worth $340,000 after buying an additional 8 shares in the last quarter. Alpha Windward LLC boosted its stake in International Business Machines Corp. by 1.1% in the second quarter. Alpha Windward LLC now owns 1,324 shares of the technology company’s stock worth $201,000 after buying an additional 15 shares in the last quarter. Bremer Trust National Association boosted its stake in International Business Machines Corp. by 0.4% in the second quarter. Bremer Trust National Association now owns 6,063 shares of the technology company’s stock worth $921,000 after buying an additional 27 shares in the last quarter. Finally, Roberts Glore & Co. Inc. IL boosted its stake in International Business Machines Corp. by 1.3% in the first quarter. Roberts Glore & Co. Inc. IL now owns 2,194 shares of the technology company’s stock worth $332,000 after buying an additional 28 shares in the last quarter. 57.61% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Corp. (NYSE:IBM) traded down 0.37% on Thursday, reaching $153.72. 2,909,898 shares of the company’s stock were exchanged. The company has a market capitalization of $146.93 billion, a PE ratio of 12.50 and a beta of 0.88. The company has a 50 day moving average price of $157.12 and a 200-day moving average price of $154.21. International Business Machines Corp. has a 1-year low of $116.90 and a 1-year high of $165.00.

International Business Machines Corp. (NYSE:IBM) last released its quarterly earnings data on Monday, July 18th. The technology company reported $2.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.89 by $0.06. The firm earned $20.20 billion during the quarter, compared to analysts’ expectations of $20.03 billion. International Business Machines Corp. had a return on equity of 88.92% and a net margin of 14.86%. International Business Machines Corp.’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.84 earnings per share. On average, equities research analysts anticipate that International Business Machines Corp. will post $13.51 earnings per share for the current year.

A number of research firms recently commented on IBM. Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $147.00 target price on shares of International Business Machines Corp. in a research note on Wednesday. Credit Suisse Group AG reiterated an “underperform” rating and issued a $110.00 target price on shares of International Business Machines Corp. in a research note on Wednesday. Sanford C. Bernstein reiterated a “market perform” rating and issued a $140.00 target price on shares of International Business Machines Corp. in a research note on Saturday, October 8th. Societe Generale set a $160.00 target price on shares of International Business Machines Corp. and gave the stock a “neutral” rating in a research note on Tuesday, September 27th. Finally, Zacks Investment Research upgraded shares of International Business Machines Corp. from a “sell” rating to a “hold” rating in a research note on Monday, September 26th. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. International Business Machines Corp. has a consensus rating of “Hold” and a consensus price target of $154.47.

In other news, insider Robert J. Leblanc sold 15,708 shares of the firm’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $162.25, for a total value of $2,548,623.00. Following the completion of the transaction, the insider now owns 61,374 shares in the company, valued at $9,957,931.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider John E. Kelly III sold 6,698 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $160.89, for a total value of $1,077,641.22. Following the completion of the transaction, the insider now owns 33,576 shares of the company’s stock, valued at approximately $5,402,042.64. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

About International Business Machines Corp.

International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Global Technology Services (GTS), Global Business Services (GBS), Software, Systems Hardware and Global Financing. The Company’s GTS segment offers services, including strategic outsourcing, integrated technology services, cloud and technology support services (maintenance services).

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