Chesley Taft & Associates LLC lowered its stake in International Business Machines Corporation (NYSE:IBM) by 1.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 41,033 shares of the technology company’s stock after selling 521 shares during the period. Chesley Taft & Associates LLC’s holdings in International Business Machines Corporation were worth $6,312,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the stock. Intellectus Partners LLC lifted its position in International Business Machines Corporation by 9.8% during the first quarter. Intellectus Partners LLC now owns 16,817 shares of the technology company’s stock worth $2,929,000 after purchasing an additional 1,496 shares during the period. CKW Financial Group grew its stake in International Business Machines Corporation by 14.8% during 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 in the last quarter. Stevens Capital Management LP acquired a new stake in International Business Machines Corporation during the first quarter worth about $12,488,000. Wellington Shields & Co. LLC grew its stake in International Business Machines Corporation by 1.0% during the first quarter. Wellington Shields & Co. LLC now owns 29,440 shares of the technology company’s stock worth $5,127,000 after buying an additional 300 shares in the last quarter. Finally, Highbridge Capital Management LLC acquired a new stake in International Business Machines Corporation during the first quarter worth about $1,103,000. 57.88% of the stock is owned by institutional investors and hedge funds.

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Shares of International Business Machines Corporation (IBM) traded up 0.01% during trading on Tuesday, reaching $146.67. The company’s stock had a trading volume of 1,182,083 shares. The stock has a market cap of $136.69 billion, a price-to-earnings ratio of 12.17 and a beta of 0.95. International Business Machines Corporation has a 52-week low of $139.13 and a 52-week high of $182.79. The stock’s 50 day moving average price is $143.79 and its 200-day moving average price is $153.48. International Business Machines Corporation also was the target of unusually large options trading activity on Monday. Traders bought 10,093 call options on the stock. This is an increase of approximately 136% compared to the typical daily volume of 4,279 call options.

International Business Machines Corporation (NYSE:IBM) last posted its quarterly earnings data on Tuesday, July 18th. The technology company reported $2.97 EPS for the quarter, topping the consensus estimate of $2.74 by $0.23. The business had revenue of $19.29 billion for the quarter, compared to analyst estimates of $19.45 billion. International Business Machines Corporation had a net margin of 14.58% and a return on equity of 71.53%. International Business Machines Corporation’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.95 earnings per share. Equities analysts anticipate that International Business Machines Corporation will post $13.77 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Saturday, September 9th. Shareholders of record on Thursday, August 10th were paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date was Tuesday, August 8th. International Business Machines Corporation’s dividend payout ratio is 49.88%.

Several research firms recently issued reports on IBM. UBS AG reiterated a “hold” rating and set a $152.00 price target on shares of International Business Machines Corporation in a research report on Tuesday, September 5th. BidaskClub upgraded shares of International Business Machines Corporation from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. Morgan Stanley restated an “overweight” rating and set a $192.00 price objective on shares of International Business Machines Corporation in a research report on Wednesday, August 23rd. Vetr upgraded International Business Machines Corporation from a “hold” rating to a “buy” rating and set a $150.68 target price for the company in a research note on Monday, July 31st. Finally, Drexel Hamilton restated a “buy” rating and set a $200.00 target price on shares of International Business Machines Corporation in a research note on Tuesday, July 18th. Seven equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $157.12.

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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