Todays Report: Today: Livingston Group Asset Management CO operating as Southport Capital Management Reduces stake in International Business Machines Corp. (IBM)

Today: Livingston Group Asset Management CO operating as Southport Capital Management Reduces stake in International Business Machines Corp. (IBM)

Livingston Group Asset Management CO operating as Southport Capital Management reduced its position in shares of International Business Machines Corp. (NYSE:IBM) by 5.3% during the second quarter, Holdings Channel reports. The fund owned 7,818 shares of the technology company’s stock after selling 439 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in International Business Machines Corp. were worth $1,187,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp increased its position in International Business Machines Corp. by 2.5% in the first quarter. State Street Corp now owns 50,852,184 shares of the technology company’s stock worth $7,701,559,000 after buying an additional 1,230,826 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in International Business Machines Corp. by 0.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 23,262,068 shares of the technology company’s stock worth $3,523,040,000 after buying an additional 62,326 shares in the last quarter. BlackRock Fund Advisors increased its position in International Business Machines Corp. by 10.0% in the first quarter. BlackRock Fund Advisors now owns 12,645,562 shares of the technology company’s stock worth $1,915,170,000 after buying an additional 1,154,028 shares in the last quarter. BlackRock Group LTD increased its position in International Business Machines Corp. by 1.0% in the first quarter. BlackRock Group LTD now owns 7,444,327 shares of the technology company’s stock worth $1,127,444,000 after buying an additional 74,181 shares in the last quarter. Finally, Legal & General Group Plc increased its position in International Business Machines Corp. by 2.2% in the first quarter. Legal & General Group Plc now owns 4,564,926 shares of the technology company’s stock worth $691,352,000 after buying an additional 98,130 shares in the last quarter. Institutional investors and hedge funds own 57.61% of the company’s stock.

Shares of International Business Machines Corp. (NYSE:IBM) traded up 0.47% on Friday, hitting $154.45. The company’s stock had a trading volume of 4,358,197 shares. The stock’s 50 day moving average price is $156.85 and its 200 day moving average price is $154.25. International Business Machines Corp. has a 52 week low of $116.90 and a 52 week high of $165.00. The stock has a market capitalization of $147.63 billion, a P/E ratio of 12.56 and a beta of 0.88.

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

A number of research analysts recently issued reports on the company. Barclays PLC restated a “sell” rating on shares of International Business Machines Corp. in a research note on Sunday, July 17th. Morgan Stanley reiterated a “buy” rating and issued a $168.00 target price on shares of International Business Machines Corp. in a research note on Sunday, July 17th. Cantor Fitzgerald reiterated a “hold” rating on shares of International Business Machines Corp. in a research note on Sunday, July 17th. Vetr downgraded International Business Machines Corp. from a “hold” rating to a “sell” rating and set a $150.47 target price on the stock. in a research note on Monday, July 11th. Finally, Drexel Hamilton reiterated a “buy” rating and issued a $166.00 target price on shares of International Business Machines Corp. in a research note on Friday, July 15th. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have assigned a buy rating to the stock. International Business Machines Corp. currently has an average rating of “Hold” and a consensus price target of $154.47.

In other news, insider Robert J. Picciano sold 1,922 shares of the stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of $159.16, for a total transaction of $305,905.52. Following the completion of the sale, the insider now owns 35,861 shares in the company, valued at approximately $5,707,636.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Erich Clementi sold 2,984 shares of the stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $159.00, for a total value of $474,456.00. Following the sale, the insider now owns 22,531 shares of the company’s stock, valued at approximately $3,582,429. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

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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