Kimelman & Baird LLC purchased a new position in International Business Machines Corporation (NYSE:IBM) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,776 shares of the technology company’s stock, valued at approximately $309,000.

A number of other hedge funds have also recently modified their holdings of the stock. State Street Corp grew its stake in International Business Machines Corporation by 0.4% in the first quarter. State Street Corp now owns 51,198,962 shares of the technology company’s stock worth $8,915,788,000 after purchasing an additional 181,993 shares during the period. Schwab Charles Investment Management Inc. grew its stake in International Business Machines Corporation by 5.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 4,516,351 shares of the technology company’s stock worth $786,478,000 after purchasing an additional 215,180 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in International Business Machines Corporation by 1.3% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,719,932 shares of the technology company’s stock worth $473,649,000 after purchasing an additional 34,936 shares during the period. LSV Asset Management grew its stake in International Business Machines Corporation by 2.3% in the first quarter. LSV Asset Management now owns 2,578,404 shares of the technology company’s stock worth $449,003,000 after purchasing an additional 59,030 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in International Business Machines Corporation by 0.7% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,917,559 shares of the technology company’s stock worth $333,924,000 after purchasing an additional 13,592 shares during the period. 57.94% of the stock is currently owned by institutional investors.

IBM has been the topic of several recent research reports. Vetr raised International Business Machines Corporation from a “sell” rating to a “hold” rating and set a $147.02 price target on the stock in a research note on Wednesday, June 7th. Credit Suisse Group reaffirmed an “underperform” rating and issued a $110.00 price target (down from $125.00) on shares of International Business Machines Corporation in a research note on Monday, July 17th. UBS AG reissued a “neutral” rating and issued a $159.00 target price (down from $167.00) on shares of International Business Machines Corporation in a report on Saturday, July 22nd. Stifel Nicolaus reissued a “buy” rating and issued a $182.00 target price on shares of International Business Machines Corporation in a report on Friday, June 9th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $180.00 target price on shares of International Business Machines Corporation in a report on Tuesday, May 23rd. Seven investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have given a buy rating to the company’s stock. International Business Machines Corporation currently has an average rating of “Hold” and an average target price of $157.12.

International Business Machines Corporation (IBM) traded up 0.07% during mid-day trading on Wednesday, hitting $145.86. The company had a trading volume of 1,104,800 shares. International Business Machines Corporation has a 12 month low of $139.13 and a 12 month high of $182.79. The firm has a market capitalization of $135.93 billion, a P/E ratio of 12.11 and a beta of 0.97. The company has a 50-day moving average price of $143.21 and a 200 day moving average price of $157.11.

International Business Machines Corporation (NYSE:IBM) last announced its quarterly earnings results on Tuesday, July 18th. The technology company reported $2.97 earnings per share for the quarter, beating 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 firm 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 business earned $2.95 EPS. International Business Machines Corporation’s revenue for the quarter was down 4.7% compared to the same quarter last year. Equities analysts forecast that International Business Machines Corporation will post $13.76 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Saturday, September 9th. Investors of record on Thursday, August 10th were paid a $1.50 dividend. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $6.00 annualized dividend and a dividend yield of 4.12%. International Business Machines Corporation’s dividend payout ratio is presently 49.88%.

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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.

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

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