Olstein Capital Management L.P. lifted its stake in shares of International Business Machines Corp. (NYSE:IBM) by 50.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,000 shares of the technology company’s stock after acquiring an additional 14,000 shares during the quarter. Olstein Capital Management L.P.’s holdings in International Business Machines were worth $6,093,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Union Bankshares Corp increased its holdings in International Business Machines by 2.2% in the second quarter. Union Bankshares Corp now owns 30,291 shares of the technology company’s stock worth $4,660,000 after purchasing an additional 661 shares in the last quarter. Hills Bank & Trust Co. increased its holdings in International Business Machines by 64.7% in the second quarter. Hills Bank & Trust Co. now owns 3,217 shares of the technology company’s stock worth $495,000 after purchasing an additional 1,264 shares in the last quarter. Private Capital Advisors Inc. increased its holdings in International Business Machines by 4.9% in the second quarter. Private Capital Advisors Inc. now owns 2,150 shares of the technology company’s stock worth $331,000 after purchasing an additional 100 shares in the last quarter. NEXT Financial Group Inc increased its holdings in International Business Machines by 20.6% in the second quarter. NEXT Financial Group Inc now owns 5,718 shares of the technology company’s stock worth $880,000 after purchasing an additional 978 shares in the last quarter. Finally, Cullinan Associates Inc. increased its holdings in International Business Machines by 42.4% in the second quarter. Cullinan Associates Inc. now owns 30,890 shares of the technology company’s stock worth $4,752,000 after purchasing an additional 9,200 shares in the last quarter. Institutional investors own 57.34% of the company’s stock.

IBM has been the subject of a number of research analyst reports. UBS Group reiterated a “neutral” rating and issued a $160.00 target price (up from $152.00) on shares of International Business Machines in a report on Wednesday, October 18th. Morgan Stanley downgraded International Business Machines from an “equal weight” rating to an “underweight” rating and lifted their target price for the stock from $200.00 to $205.00 in a report on Tuesday. Societe Generale set a $149.00 price objective on International Business Machines and gave the company a “sell” rating in a research note on Friday, January 19th. Vetr raised International Business Machines from a “buy” rating to a “strong-buy” rating and set a $173.45 price objective for the company in a research note on Wednesday, December 6th. Finally, Cantor Fitzgerald reissued a “hold” rating and issued a $154.00 price objective on shares of International Business Machines in a research note on Friday, October 13th. Seven investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $164.37.

International Business Machines Corp. (NYSE:IBM) opened at $165.47 on Friday. The stock has a market capitalization of $153,098.06, a P/E ratio of 27.08, a P/E/G ratio of 2.42 and a beta of 0.94. The company has a current ratio of 1.33, a quick ratio of 1.29 and a debt-to-equity ratio of 2.25. International Business Machines Corp. has a 1 year low of $139.13 and a 1 year high of $182.79.

International Business Machines (NYSE:IBM) last announced its earnings results on Thursday, January 18th. The technology company reported $5.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $5.17 by $0.01. The company had revenue of $22.54 billion for the quarter, compared to analysts’ expectations of $22.03 billion. International Business Machines had a return on equity of 69.48% and a net margin of 7.27%. International Business Machines’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.01 earnings per share. research analysts forecast that International Business Machines Corp. will post 13.82 EPS for the current year.

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About International Business Machines

International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.

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

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