Hourglass Capital LLC boosted its stake in shares of International Business Machines Corporation (NYSE:IBM) by 0.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,170 shares of the technology company’s stock after buying an additional 150 shares during the period. Hourglass Capital LLC’s holdings in International Business Machines Corporation were worth $4,906,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. 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 valued at $163,000 after buying an additional 121 shares in the last quarter. Asset Management Advisors LLC increased its stake in International Business Machines Corporation by 5.5% in the first quarter. Asset Management Advisors LLC now owns 48,504 shares of the technology company’s stock valued at $8,446,000 after buying an additional 2,525 shares in the last quarter. Pictet Asset Management Ltd. increased its stake in International Business Machines Corporation by 8.0% in the first quarter. Pictet Asset Management Ltd. now owns 683,784 shares of the technology company’s stock valued at $119,074,000 after buying an additional 50,841 shares in the last quarter. Xact Kapitalforvaltning AB increased its stake in International Business Machines Corporation by 3.6% in the first quarter. Xact Kapitalforvaltning AB now owns 141,407 shares of the technology company’s stock valued at $24,625,000 after buying an additional 4,934 shares in the last quarter. Finally, Trust Co. of Vermont increased its stake in International Business Machines Corporation by 0.9% in the first quarter. Trust Co. of Vermont now owns 48,878 shares of the technology company’s stock valued at $8,512,000 after buying an additional 422 shares in the last quarter. 57.91% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Corporation (IBM) traded up 0.51% during midday trading on Thursday, hitting $143.28. 920,534 shares of the stock were exchanged. International Business Machines Corporation has a 1-year low of $139.13 and a 1-year high of $182.79. The firm’s 50-day moving average price is $145.84 and its 200 day moving average price is $160.04. The firm has a market capitalization of $133.53 billion, a P/E ratio of 11.89 and a beta of 0.97.

International Business Machines Corporation (NYSE:IBM) last issued 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 firm had revenue of $19.29 billion during the quarter, compared to analyst estimates of $19.45 billion. During the same quarter in the prior year, the business earned $2.95 earnings per share. International Business Machines Corporation’s revenue for the quarter was down 4.7% on a year-over-year basis. Analysts expect that International Business Machines Corporation will post $13.77 earnings per share for the current fiscal year.

The business 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 dividend of $1.50 per share. The ex-dividend date is Tuesday, August 8th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 4.21%. International Business Machines Corporation’s dividend payout ratio is 49.88%.

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Several equities analysts have recently weighed in on the company. BidaskClub upgraded International Business Machines Corporation from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. Vetr upgraded International Business Machines Corporation from a “hold” rating to a “buy” rating and set a $150.93 price objective for the company in a report on Thursday, August 24th. Morgan Stanley restated an “overweight” rating and issued a $192.00 price objective on shares of International Business Machines Corporation in a report on Wednesday, August 23rd. Royal Bank Of Canada restated a “sector perform” rating and issued a $160.00 price objective on shares of International Business Machines Corporation in a report on Friday, August 18th. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $150.00 price objective on shares of International Business Machines Corporation in a report on Wednesday, August 9th. Seven research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have issued a buy rating to the company. International Business Machines Corporation has an average rating of “Hold” and an average target price of $157.41.

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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