DekaBank Deutsche Girozentrale boosted its position in shares of International Business Machines Corporation (NYSE:IBM) by 70.6% during the first quarter, according to its most recent filing with the SEC. The fund owned 646,799 shares of the technology company’s stock after buying an additional 267,588 shares during the period. International Business Machines Corporation comprises approximately 1.0% of DekaBank Deutsche Girozentrale’s investment portfolio, making the stock its 16th largest position. DekaBank Deutsche Girozentrale owned 0.07% of International Business Machines Corporation worth $112,830,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in IBM. British Airways Pensions Investment Management Ltd bought a new stake in shares of International Business Machines Corporation during the first quarter worth $23,149,000. Parnassus Investments CA boosted its stake in shares of International Business Machines Corporation by 12.4% in the first quarter. Parnassus Investments CA now owns 1,135,000 shares of the technology company’s stock worth $197,649,000 after buying an additional 125,000 shares during the period. ING Groep NV boosted its stake in shares of International Business Machines Corporation by 4,198.4% in the first quarter. ING Groep NV now owns 114,853 shares of the technology company’s stock worth $20,001,000 after buying an additional 112,181 shares during the period. Bank of Montreal Can boosted its stake in shares of International Business Machines Corporation by 11.0% in the first quarter. Bank of Montreal Can now owns 955,721 shares of the technology company’s stock worth $166,430,000 after buying an additional 94,939 shares during the period. Finally, LSV Asset Management boosted its stake in shares of 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 buying an additional 59,030 shares during the period. Institutional investors and hedge funds own 58.57% of the company’s stock.

International Business Machines Corporation (NYSE:IBM) traded down 0.225% during trading on Monday, reaching $139.385. The company’s stock had a trading volume of 518,790 shares. The stock has a market cap of $129.90 billion, a price-to-earnings ratio of 11.568 and a beta of 0.97. International Business Machines Corporation has a 52-week low of $139.13 and a 52-week high of $182.79. The firm has a 50 day moving average price of $147.30 and a 200-day moving average price of $161.22.

International Business Machines Corporation (NYSE:IBM) last issued its earnings results on Tuesday, July 18th. The technology company reported $2.97 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $19.45 billion. During the same period in the previous year, the company posted $2.95 EPS. The firm’s revenue was down 4.7% compared to the same quarter last year. On average, analysts expect that International Business Machines Corporation will post $13.77 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Saturday, September 9th. Investors of record on Thursday, August 10th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date is Tuesday, August 8th. International Business Machines Corporation’s payout ratio is 49.88%.

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A number of brokerages have weighed in on IBM. BidaskClub upgraded International Business Machines Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Sanford C. Bernstein reiterated a “neutral” rating and issued a $150.00 price target on shares of International Business Machines Corporation in a research report on Friday, May 5th. Wells Fargo & Company reiterated a “market perform” rating and issued a $162.50 price target on shares of International Business Machines Corporation in a research report on Tuesday, April 25th. Cleveland Research began coverage on International Business Machines Corporation in a research report on Thursday, June 22nd. They issued a “neutral” rating on the stock. Finally, Cantor Fitzgerald reiterated a “hold” rating and issued a $154.00 price target (down from $166.00) on shares of International Business Machines Corporation in a research report on Wednesday, July 19th. Seven research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $157.40.

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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