Bank of New York Mellon Corp Has $2 Billion Holdings in International Business Machines Corporation $IBM

Bank of New York Mellon Corp decreased its stake in International Business Machines Corporation (NYSE:IBM) by 0.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 7,072,758 shares of the technology company’s stock after selling 55,481 shares during the period. Bank of New York Mellon Corp’s holdings in International Business Machines were worth $1,995,650,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Mattson Financial Services LLC acquired a new stake in shares of International Business Machines in the 3rd quarter valued at about $852,000. Vise Technologies Inc. bought a new position in shares of International Business Machines during the second quarter worth about $16,565,000. Vanguard Group Inc. raised its position in International Business Machines by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 95,051,475 shares of the technology company’s stock valued at $28,019,274,000 after buying an additional 1,913,708 shares during the last quarter. Thames Capital Management LLC bought a new stake in International Business Machines in the 2nd quarter valued at approximately $2,710,000. Finally, CWM LLC boosted its position in International Business Machines by 3.0% during the 2nd quarter. CWM LLC now owns 122,623 shares of the technology company’s stock worth $36,147,000 after acquiring an additional 3,537 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Down 0.8%

International Business Machines stock opened at $294.07 on Wednesday. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.93 and a quick ratio of 0.89. The company’s 50-day moving average is $302.19 and its 200-day moving average is $282.72. The firm has a market capitalization of $274.88 billion, a PE ratio of 35.18, a P/E/G ratio of 2.87 and a beta of 0.70. International Business Machines Corporation has a fifty-two week low of $214.50 and a fifty-two week high of $324.90.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on IBM. Wall Street Zen downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Sunday, January 11th. Royal Bank Of Canada reiterated an “outperform” rating on shares of International Business Machines in a research note on Tuesday. BMO Capital Markets boosted their price target on shares of International Business Machines from $300.00 to $305.00 and gave the stock a “market perform” rating in a research report on Thursday, October 23rd. Stifel Nicolaus raised their price objective on International Business Machines from $295.00 to $325.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of International Business Machines in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, International Business Machines currently has a consensus rating of “Moderate Buy” and an average price target of $306.86.

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.