West Coast Financial LLC raised its position in International Business Machines Corp. (NYSE:IBM) by 1.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,625 shares of the technology company’s stock after buying an additional 358 shares during the period. International Business Machines Corp. accounts for 1.5% of West Coast Financial LLC’s holdings, making the stock its 22nd largest position. West Coast Financial LLC’s holdings in International Business Machines Corp. were worth $4,637,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pinnacle Bank purchased a new stake in International Business Machines Corp. during the first quarter valued at approximately $1,416,000. HighPoint Advisor Group LLC boosted its stake in International Business Machines Corp. by 11.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 21,150 shares of the technology company’s stock valued at $3,848,000 after buying an additional 2,209 shares during the last quarter. Nadler Financial Group Inc. boosted its stake in International Business Machines Corp. by 14.1% in the first quarter. Nadler Financial Group Inc. now owns 2,595 shares of the technology company’s stock valued at $452,000 after buying an additional 320 shares during the last quarter. Aspiriant LLC boosted its stake in International Business Machines Corp. by 1.9% in the fourth quarter. Aspiriant LLC now owns 9,157 shares of the technology company’s stock valued at $1,520,000 after buying an additional 175 shares during the last quarter. Finally, NewSquare Capital LLC boosted its stake in International Business Machines Corp. by 13.7% in the first quarter. NewSquare Capital LLC now owns 6,502 shares of the technology company’s stock valued at $1,132,000 after buying an additional 782 shares during the last quarter. 58.65% of the stock is owned by institutional investors and hedge funds.

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

Shares of International Business Machines Corp. (IBM) opened at 152.05 on Monday. International Business Machines Corp. has a 1-year low of $142.50 and a 1-year high of $182.79. The stock has a market cap of $142.85 billion, a P/E ratio of 12.50 and a beta of 0.96. The company’s 50-day moving average is $156.07 and its 200 day moving average is $167.76.

International Business Machines Corp. (NYSE:IBM) last posted its quarterly earnings data on Tuesday, April 18th. The technology company reported $2.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.35 by $0.03. The business had revenue of $18.16 billion during the quarter, compared to the consensus estimate of $18.37 billion. International Business Machines Corp. had a net margin of 14.85% and a return on equity of 78.32%. International Business Machines Corp.’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.35 EPS. Equities research analysts anticipate that International Business Machines Corp. will post $13.70 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 10th. Investors of record on Wednesday, May 10th will be issued a dividend of $1.50 per share. This is an increase from International Business Machines Corp.’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a dividend yield of 3.95%. The ex-dividend date is Monday, May 8th. International Business Machines Corp.’s dividend payout ratio is currently 45.16%.

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Several research firms have commented on IBM. Stifel Nicolaus lowered their target price on shares of International Business Machines Corp. from $192.00 to $182.00 and set a “buy” rating for the company in a research note on Wednesday, May 24th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $180.00 target price on shares of International Business Machines Corp. in a research note on Tuesday, May 23rd. Vetr cut shares of International Business Machines Corp. from a “hold” rating to a “sell” rating and set a $143.18 target price for the company. in a research note on Monday, May 22nd. Jefferies Group LLC set a $135.00 target price on shares of International Business Machines Corp. and gave the stock a “sell” rating in a research note on Friday, May 19th. Finally, Pacific Crest began coverage on shares of International Business Machines Corp. in a research note on Thursday, May 18th. They issued an “equal weight” rating and a $151.35 target price for the company. Eight investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the stock. International Business Machines Corp. presently has an average rating of “Hold” and an average price target of $164.54.

In other news, Director James W. Owens acquired 1,718 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The stock was acquired at an average cost of $153.19 per share, with a total value of $263,180.42. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.08% of the stock is currently owned by corporate insiders.

About International Business Machines Corp.

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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