Montecito Bank & Trust decreased its stake in International Business Machines Corporation (NYSE:IBM) by 4.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,696 shares of the technology company’s stock after selling 291 shares during the period. Montecito Bank & Trust’s holdings in International Business Machines Corporation were worth $876,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the company. Kwmg LLC grew its stake in shares of International Business Machines Corporation by 8.8% in the second quarter. Kwmg LLC now owns 9,776 shares of the technology company’s stock worth $1,504,000 after acquiring an additional 792 shares during the last quarter. Personal Capital Advisors Corp grew its stake in shares of International Business Machines Corporation by 359.2% in the second quarter. Personal Capital Advisors Corp now owns 28,291 shares of the technology company’s stock worth $4,352,000 after acquiring an additional 22,130 shares during the last quarter. Moloney Securities Asset Management LLC grew its stake in shares of International Business Machines Corporation by 4.7% in the second quarter. Moloney Securities Asset Management LLC now owns 10,206 shares of the technology company’s stock worth $1,570,000 after acquiring an additional 454 shares during the last quarter. Clarkston Capital Partners LLC grew its stake in shares of International Business Machines Corporation by 17.0% in the second quarter. Clarkston Capital Partners LLC now owns 168,421 shares of the technology company’s stock worth $25,908,000 after acquiring an additional 24,421 shares during the last quarter. Finally, Wellington Shields & Co. LLC grew its stake in shares of International Business Machines Corporation by 3.4% in the second quarter. Wellington Shields & Co. LLC now owns 30,440 shares of the technology company’s stock worth $4,683,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 57.94% of the company’s stock.

Several equities research analysts have recently issued reports on IBM shares. Jefferies Group LLC set a $135.00 price objective on shares of International Business Machines Corporation and gave the stock a “sell” rating in a research note on Friday, May 19th. Stifel Nicolaus restated a “buy” rating and issued a $182.00 price objective on shares of International Business Machines Corporation in a research note on Friday, July 21st. BidaskClub upgraded shares of International Business Machines Corporation from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. Vetr upgraded shares of International Business Machines Corporation from a “sell” rating to a “hold” rating and set a $150.26 price objective on the stock in a research note on Monday, July 3rd. Finally, Credit Suisse Group restated an “underperform” rating and issued a $110.00 price objective (down previously from $125.00) on shares of International Business Machines Corporation in a research note on Monday, July 17th. Seven equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $157.12.

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Shares of International Business Machines Corporation (IBM) opened at 145.99 on Thursday. 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 $136.05 billion, a price-to-earnings ratio of 12.12 and a beta of 0.97. The company has a 50-day moving average price of $143.20 and a 200-day moving average price of $156.86.

International Business Machines Corporation (NYSE:IBM) last announced its quarterly earnings data on Tuesday, July 18th. The technology company reported $2.97 earnings per share for the quarter, topping the 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 business had revenue of $19.29 billion during the quarter, compared to the consensus estimate of $19.45 billion. During the same period in the prior year, the company earned $2.95 EPS. International Business Machines Corporation’s revenue for the quarter was down 4.7% on a year-over-year basis. Equities analysts forecast that International Business Machines Corporation will post $13.76 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, September 9th. Investors of record on Thursday, August 10th were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $6.00 annualized dividend and a dividend yield of 4.11%. International Business Machines Corporation’s dividend payout ratio is currently 49.88%.

About International Business Machines Corporation

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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