Sabal Trust CO increased its position in International Business Machines Corporation (NYSE:IBM) by 4.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,012 shares of the technology company’s stock after buying an additional 171 shares during the period. Sabal Trust CO’s holdings in International Business Machines Corporation were worth $617,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in IBM. Horan Securities Inc. increased its stake in International Business Machines Corporation by 845.5% in the second quarter. Horan Securities Inc. now owns 936 shares of the technology company’s stock worth $144,000 after buying an additional 837 shares during the period. Proficio Capital Partners LLC increased its stake in International Business Machines Corporation by 85.1% in the first quarter. Proficio Capital Partners LLC now owns 959 shares of the technology company’s stock worth $146,000 after buying an additional 441 shares during the period. CKW Financial Group increased its stake in International Business Machines Corporation by 14.8% in the first quarter. CKW Financial Group now owns 938 shares of the technology company’s stock worth $163,000 after buying an additional 121 shares during the period. Grisanti Capital Management LLC increased its stake in International Business Machines Corporation by 2.0% in the first quarter. Grisanti Capital Management LLC now owns 1,027 shares of the technology company’s stock worth $179,000 after buying an additional 20 shares during the period. Finally, Capital Management Associates NY bought a new stake in International Business Machines Corporation during the first quarter worth approximately $200,000. Institutional investors own 58.57% of the company’s stock.

International Business Machines Corporation (IBM) traded up 0.14% during midday trading on Monday, hitting $139.90. 1,366,932 shares of the stock traded hands. International Business Machines Corporation has a 12-month low of $139.13 and a 12-month high of $182.79. The stock has a market capitalization of $130.38 billion, a PE ratio of 11.61 and a beta of 0.97. The firm’s 50 day moving average is $147.30 and its 200-day moving average is $161.22.

International Business Machines Corporation (NYSE:IBM) last released its earnings results on Tuesday, July 18th. The technology company reported $2.97 earnings per share (EPS) for the quarter, beating the Zacks’ 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 for the quarter, compared to analysts’ expectations of $19.45 billion. During the same quarter in the previous year, the business posted $2.95 earnings per share. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. On average, analysts anticipate that International Business Machines Corporation will post $13.77 EPS for the current fiscal 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 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 of this dividend is Tuesday, August 8th. International Business Machines Corporation’s dividend payout ratio is presently 49.88%.

COPYRIGHT VIOLATION WARNING: This news story was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this news story on another website, it was illegally stolen and republished in violation of U.S. and international copyright and trademark law. The correct version of this news story can be accessed at https://www.thecerbatgem.com/2017/08/21/international-business-machines-corporation-ibm-stake-boosted-by-sabal-trust-co.html.

A number of analysts have commented on IBM shares. Stifel Nicolaus restated a “buy” rating and set a $182.00 price target on shares of International Business Machines Corporation in a research report on Friday, June 9th. Vetr upgraded shares of International Business Machines Corporation from a “hold” rating to a “buy” rating and set a $159.56 price target on the stock in a research report on Monday, July 10th. Drexel Hamilton restated a “buy” rating and set a $200.00 price target on shares of International Business Machines Corporation in a research report on Tuesday, July 18th. Standpoint Research upgraded shares of International Business Machines Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Finally, Argus restated a “buy” rating and set a $175.00 price target (down from $192.00) on shares of International Business Machines Corporation in a research report on Friday, July 21st. Seven equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. International Business Machines Corporation presently has an average rating of “Hold” and a consensus price target of $157.40.

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.

Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Corporation (NYSE:IBM).

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

Receive News & Stock Ratings for International Business Machines Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Business Machines Corporation and related stocks with our FREE daily email newsletter.