Founders Capital Management raised its position in shares of International Business Machines Corporation (NYSE:IBM) by 14.8% during the second quarter, Holdings Channel reports. The institutional investor owned 16,598 shares of the technology company’s stock after buying an additional 2,144 shares during the period. International Business Machines Corporation makes up 2.3% of Founders Capital Management’s portfolio, making the stock its 12th largest position. Founders Capital Management’s holdings in International Business Machines Corporation were worth $2,553,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Independence Advisors LLC boosted its position in International Business Machines Corporation by 0.3% in the first quarter. Independence Advisors LLC now owns 1,937 shares of the technology company’s stock valued at $337,000 after buying an additional 5 shares during the period. Jackson Grant Investment Advisers Inc. boosted its position in International Business Machines Corporation by 0.8% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 737 shares of the technology company’s stock valued at $122,000 after buying an additional 6 shares during the period. K.J. Harrison & Partners Inc boosted its position in International Business Machines Corporation by 0.4% in the first quarter. K.J. Harrison & Partners Inc now owns 1,955 shares of the technology company’s stock valued at $340,000 after buying an additional 7 shares during the period. Arthur M. Cohen & Associates LLC boosted its position in International Business Machines Corporation by 0.5% in the first quarter. Arthur M. Cohen & Associates LLC now owns 1,362 shares of the technology company’s stock valued at $237,000 after buying an additional 7 shares during the period. Finally, Financial & Investment Management Group Ltd. boosted its position in International Business Machines Corporation by 0.6% in the first quarter. Financial & Investment Management Group Ltd. now owns 1,958 shares of the technology company’s stock valued at $341,000 after buying an additional 12 shares during the period. Hedge funds and other institutional investors own 58.73% of the company’s stock.

Shares of International Business Machines Corporation (IBM) traded down 0.42% during midday trading on Wednesday, hitting $141.52. 1,492,544 shares of the stock were exchanged. International Business Machines Corporation has a 1-year low of $141.19 and a 1-year high of $182.79. The company has a market capitalization of $131.89 billion, a P/E ratio of 11.75 and a beta of 0.97. The firm has a 50-day moving average of $150.98 and a 200-day moving average of $163.44.

International Business Machines Corporation (NYSE:IBM) last issued its quarterly earnings results on Tuesday, July 18th. The technology company reported $2.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.74 by $0.23. International Business Machines Corporation had a net margin of 14.58% and a return on equity of 71.53%. The company had revenue of $19.29 billion for the quarter, compared to the consensus estimate of $19.45 billion. During the same quarter in the prior year, the company earned $2.95 EPS. International Business Machines Corporation’s quarterly revenue was down 4.7% on a year-over-year basis. On average, equities analysts expect that International Business Machines Corporation will post $13.74 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, September 9th. Investors of record on Thursday, August 10th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $6.00 annualized dividend and a yield of 4.22%. International Business Machines Corporation’s dividend payout ratio (DPR) is presently 49.88%.

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Several research firms recently weighed in on IBM. Sanford C. Bernstein restated a “market perform” rating and set a $150.00 price target on shares of International Business Machines Corporation in a report on Tuesday, April 11th. Vetr cut shares of International Business Machines Corporation from a “sell” rating to a “strong sell” rating and set a $152.23 price target on the stock. in a report on Monday, April 17th. Cantor Fitzgerald restated a “hold” rating and set a $166.00 price target on shares of International Business Machines Corporation in a report on Thursday, April 13th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of International Business Machines Corporation in a report on Tuesday, April 18th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $180.00 price target (down from $185.00) on shares of International Business Machines Corporation in a report on Wednesday, April 19th. Seven research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have given a buy rating to the company. International Business Machines Corporation currently has an average rating of “Hold” and an average price target of $157.40.

In other International Business Machines Corporation news, Director James W. Owens purchased 1,718 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The shares were bought at an average price of $153.19 per share, for a total transaction of $263,180.42. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.23% of the stock is currently owned by corporate insiders.

International Business Machines Corporation Company Profile

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 Corporation (NYSE:IBM)

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