State Street Corp increased its stake in shares of International Business Machines Corporation (NYSE:IBM) by 0.4% during the first quarter, Holdings Channel reports. The institutional investor owned 51,198,962 shares of the technology company’s stock after buying an additional 181,993 shares during the period. International Business Machines Corporation makes up about 0.8% of State Street Corp’s portfolio, making the stock its 20th largest position. State Street Corp owned approximately 0.05% of International Business Machines Corporation worth $8,915,788,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Independence Advisors LLC increased 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 in the last quarter. Jackson Grant Investment Advisers Inc. increased 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 in the last quarter. K.J. Harrison & Partners Inc increased 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 in the last quarter. Arthur M. Cohen & Associates LLC increased 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 in the last quarter. Finally, Financial & Investment Management Group Ltd. increased 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 in the last quarter. Hedge funds and other institutional investors own 58.73% of the company’s stock.

Shares of International Business Machines Corporation (NYSE IBM) remained flat at $141.84 on Friday. 3,004,360 shares of the company were exchanged. The firm’s 50-day moving average is $149.20 and its 200-day moving average is $162.50. International Business Machines Corporation has a one year low of $141.19 and a one year high of $182.79. The firm has a market capitalization of $132.19 billion, a price-to-earnings ratio of 11.77 and a beta of 0.97.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, September 9th. Stockholders of record on Thursday, August 10th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 4.23%. The ex-dividend date is Tuesday, August 8th. International Business Machines Corporation’s payout ratio is 49.88%.

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Several research firms have commented on IBM. Goldman Sachs Group, Inc. (The) decreased their price objective on shares of International Business Machines Corporation from $175.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, April 19th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $150.00 price objective on shares of International Business Machines Corporation in a report on Wednesday, April 19th. UBS AG reiterated a “neutral” rating and issued a $167.00 price objective (down from $185.00) on shares of International Business Machines Corporation in a report on Saturday, April 22nd. Wells Fargo & Company reiterated a “market perform” rating and issued a $162.50 price objective on shares of International Business Machines Corporation in a report on Tuesday, April 25th. Finally, BidaskClub upgraded shares of International Business Machines Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Seven research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. International Business Machines Corporation presently has an average rating of “Hold” and a consensus price target of $157.40.

In other International Business Machines Corporation news, Director James W. Owens acquired 1,718 shares of the business’s stock in a transaction dated Tuesday, May 16th. The stock was bought at an average price of $153.19 per share, with a total value of $263,180.42. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.23% of the stock is currently owned by 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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