Today, Horan Capital Management Sold shares of International Business Machines Corp. (IBM)

Today, Horan Capital Management Sold shares of International Business Machines Corp. (IBM)

Horan Capital Management decreased its stake in shares of International Business Machines Corp. (NYSE:IBM) by 4.3% during the third quarter, Holdings Channel reports. The institutional investor owned 30,146 shares of the technology company’s stock after selling 1,341 shares during the period. International Business Machines Corp. makes up about 1.3% of Horan Capital Management’s holdings, making the stock its 29th largest position. Horan Capital Management’s holdings in International Business Machines Corp. were worth $4,788,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in International Business Machines Corp. by 2.2% in the second quarter. Vanguard Group Inc. now owns 55,476,336 shares of the technology company’s stock valued at $8,420,198,000 after buying an additional 1,216,940 shares in the last quarter. BlackRock Fund Advisors boosted its position in International Business Machines Corp. by 6.4% in the second quarter. BlackRock Fund Advisors now owns 13,451,769 shares of the technology company’s stock valued at $2,041,709,000 after buying an additional 806,207 shares in the last quarter. Capital Research Global Investors boosted its position in International Business Machines Corp. by 81.1% in the second quarter. Capital Research Global Investors now owns 7,135,471 shares of the technology company’s stock valued at $1,083,022,000 after buying an additional 3,194,471 shares in the last quarter. Capital World Investors boosted its position in International Business Machines Corp. by 22.3% in the second quarter. Capital World Investors now owns 5,322,000 shares of the technology company’s stock valued at $807,773,000 after buying an additional 972,000 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in International Business Machines Corp. by 9.0% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,073,142 shares of the technology company’s stock valued at $770,001,000 after buying an additional 419,742 shares in the last quarter. Institutional investors and hedge funds own 58.49% of the company’s stock.

Shares of International Business Machines Corp. (NYSE:IBM) traded up 0.72% during mid-day trading on Friday, reaching $163.14. 1,605,344 shares of the company’s stock traded hands. International Business Machines Corp. has a 12 month low of $116.90 and a 12 month high of $165.00. The stock has a market cap of $155.12 billion, a PE ratio of 13.29 and a beta of 0.94. The firm has a 50 day moving average price of $155.55 and a 200-day moving average price of $155.73.

International Business Machines Corp. (NYSE:IBM) last announced its quarterly earnings data on Monday, October 17th. The technology company reported $3.29 EPS for the quarter, beating analysts’ consensus estimates of $3.24 by $0.05. International Business Machines Corp. had a net margin of 14.75% and a return on equity of 82.86%. The company earned $19.23 billion during the quarter, compared to the consensus estimate of $19 billion. During the same quarter last year, the firm posted $3.34 EPS. The company’s quarterly revenue was down .3% on a year-over-year basis. On average, analysts predict that International Business Machines Corp. will post $13.50 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 10th. Stockholders of record on Thursday, November 10th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date of this dividend is Tuesday, November 8th. International Business Machines Corp.’s dividend payout ratio (DPR) is presently 45.64%.

Several equities analysts have recently commented on IBM shares. Vetr upgraded shares of International Business Machines Corp. from a “sell” rating to a “hold” rating and set a $156.55 price target on the stock in a report on Monday, August 29th. Cantor Fitzgerald restated a “hold” rating and set a $162.00 price target on shares of International Business Machines Corp. in a report on Monday, September 12th. Bank of America Corp. set a $185.00 price target on shares of International Business Machines Corp. and gave the company a “buy” rating in a report on Monday, November 21st. Drexel Hamilton reiterated a “buy” rating and issued a $186.00 price objective on shares of International Business Machines Corp. in a report on Tuesday, October 18th. Finally, Societe Generale upgraded shares of International Business Machines Corp. from a “sell” rating to a “hold” rating in a report on Monday, September 26th. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $156.04.

In related news, Director David N. Farr bought 1,300 shares of International Business Machines Corp. stock in a transaction that occurred on Tuesday, October 25th. The stock was acquired at an average price of $149.93 per share, with a total value of $194,909.00. Following the acquisition, the director now owns 3,758 shares of the company’s stock, valued at approximately $563,436.94. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kralingen Bridget A. Van sold 2,107 shares of International Business Machines Corp. stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $162.44, for a total transaction of $342,261.08. Following the sale, the insider now directly owns 4,147 shares of the company’s stock, valued at approximately $673,638.68. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by 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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