Summit Global Investments increased its stake in shares of International Business Machines Corporation (NYSE:IBM) by 3.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,235 shares of the technology company’s stock after buying an additional 1,113 shares during the period. International Business Machines Corporation comprises approximately 2.0% of Summit Global Investments’ holdings, making the stock its 6th largest position. Summit Global Investments’ holdings in International Business Machines Corporation were worth $6,136,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Security National Bank of SO Dak raised its stake in International Business Machines Corporation by 0.5% in the first quarter. Security National Bank of SO Dak now owns 7,743 shares of the technology company’s stock valued at $1,348,000 after buying an additional 41 shares in the last quarter. Ironwood Investment Management LLC raised its stake in International Business Machines Corporation by 0.4% in the first quarter. Ironwood Investment Management LLC now owns 8,921 shares of the technology company’s stock valued at $1,554,000 after buying an additional 33 shares in the last quarter. Lumbard & Kellner LLC raised its stake in International Business Machines Corporation by 3.1% in the first quarter. Lumbard & Kellner LLC now owns 26,624 shares of the technology company’s stock valued at $4,636,000 after buying an additional 790 shares in the last quarter. Flagship Harbor Advisors LLC raised its stake in International Business Machines Corporation by 50.9% in the first quarter. Flagship Harbor Advisors LLC now owns 9,529 shares of the technology company’s stock valued at $1,647,000 after buying an additional 3,216 shares in the last quarter. Finally, Baker Avenue Asset Management LP raised its stake in International Business Machines Corporation by 11.4% in the first quarter. Baker Avenue Asset Management LP now owns 36,306 shares of the technology company’s stock valued at $6,322,000 after buying an additional 3,725 shares in the last quarter. 58.57% of the stock is owned by institutional investors and hedge funds.

Shares of International Business Machines Corporation (NYSE IBM) traded up 0.42% during midday trading on Monday, reaching $142.43. The company’s stock had a trading volume of 554,013 shares. The stock’s 50 day moving average price is $149.20 and its 200 day moving average price is $162.50. The firm has a market cap of $132.74 billion, a price-to-earnings ratio of 11.82 and a beta of 0.97. International Business Machines Corporation has a one year low of $141.19 and a one year high of $182.79.

International Business Machines Corporation (NYSE:IBM) last released its earnings results on Tuesday, July 18th. The technology company reported $2.97 earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $19.29 billion for the quarter, compared to analyst estimates of $19.45 billion. During the same period last year, the company posted $2.95 EPS. The business’s revenue was down 4.7% on a year-over-year basis. Analysts predict that International Business Machines Corporation will post $13.74 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, September 9th. Shareholders of record on Thursday, August 10th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date of this dividend is Tuesday, August 8th. International Business Machines Corporation’s dividend payout ratio (DPR) is 49.88%.

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Several analysts have issued reports on the company. Sanford C. Bernstein reissued a “market perform” rating and set a $150.00 price target on shares of International Business Machines Corporation in a report on Wednesday, August 9th. Wedbush reissued a “neutral” rating and set a $155.00 price target on shares of International Business Machines Corporation in a report on Wednesday, August 9th. Vetr lowered International Business Machines Corporation from a “buy” rating to a “hold” rating and set a $150.68 price target for the company. in a report on Monday, August 7th. BidaskClub lowered International Business Machines Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. Finally, UBS AG reissued a “neutral” rating and set a $159.00 price target (down previously from $167.00) on shares of International Business Machines Corporation in a report on Saturday, July 22nd. Seven analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $157.40.

In other International Business Machines Corporation news, Director James W. Owens bought 1,718 shares of the firm’s stock in a transaction on Tuesday, May 16th. The shares were acquired at an average cost of $153.19 per share, with a total value of $263,180.42. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.23% of the company’s stock.

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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