Ropes Wealth Advisors LLC raised its position in International Business Machines Corp. (NYSE:IBM) by 11.1% during the second quarter, Holdings Channel reports. The institutional investor owned 49,775 shares of the technology company’s stock after buying an additional 4,973 shares during the period. International Business Machines Corp. comprises approximately 2.6% of Ropes Wealth Advisors LLC’s investment portfolio, making the stock its 5th largest position. Ropes Wealth Advisors LLC’s holdings in International Business Machines Corp. were worth $7,555,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Cypress Capital Management LLC WY purchased a new position in shares of International Business Machines Corp. during the second quarter worth about $107,000. Jackson Grant Investment Advisers Inc. boosted its position in shares of International Business Machines Corp. by 0.7% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 726 shares of the technology company’s stock worth $110,000 after buying an additional 5 shares during the last quarter. Americafirst Capital Management LLC purchased a new position in shares of International Business Machines Corp. during the second quarter worth about $120,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of International Business Machines Corp. during the second quarter worth about $158,000. Finally, Alpha Windward LLC boosted its position in shares of International Business Machines Corp. by 1.1% in the second quarter. Alpha Windward LLC now owns 1,324 shares of the technology company’s stock worth $201,000 after buying an additional 15 shares during the last quarter. 57.63% of the stock is currently owned by hedge funds and other institutional investors.

Shares of International Business Machines Corp. (NYSE:IBM) traded down 1.17% during mid-day trading on Friday, reaching $153.84. The company had a trading volume of 6,463,644 shares. The company has a market capitalization of $147.05 billion, a PE ratio of 12.51 and a beta of 0.77. International Business Machines Corp. has a 1-year low of $116.90 and a 1-year high of $164.95. The stock’s 50-day moving average price is $160.39 and its 200 day moving average price is $152.23.

International Business Machines Corp. (NYSE:IBM) last posted its quarterly earnings data on Monday, July 18th. The technology company reported $2.95 EPS for the quarter, beating the Zacks’ consensus estimate of $2.89 by $0.06. The business earned $20.20 billion during the quarter, compared to analysts’ expectations of $20.03 billion. International Business Machines Corp. had a return on equity of 88.92% and a net margin of 14.86%. The business’s revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.84 earnings per share. Equities analysts expect that International Business Machines Corp. will post $13.51 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, September 10th. Stockholders of record on Wednesday, August 10th were given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date was Monday, August 8th. International Business Machines Corp.’s dividend payout ratio (DPR) is presently 45.53%.

A number of equities analysts recently issued reports on IBM shares. JMP Securities reiterated a “buy” rating and issued a $157.00 price target on shares of International Business Machines Corp. in a research note on Thursday, June 23rd. Vetr upgraded shares of International Business Machines Corp. from a “hold” rating to a “buy” rating and set a $153.81 price target on the stock in a research note on Monday, June 27th. Drexel Hamilton reiterated a “buy” rating and issued a $166.00 price target on shares of International Business Machines Corp. in a research note on Friday, July 15th. Morgan Stanley reiterated a “buy” rating and issued a $168.00 price target on shares of International Business Machines Corp. in a research note on Sunday, July 17th. Finally, Zacks Investment Research upgraded shares of International Business Machines Corp. from a “hold” rating to a “buy” rating and set a $179.00 price target on the stock in a research note on Monday, July 18th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the company’s stock. International Business Machines Corp. currently has an average rating of “Hold” and a consensus price target of $153.31.

In other news, insider Robert J. Leblanc sold 15,708 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $162.25, for a total value of $2,548,623.00. Following the completion of the sale, the insider now directly owns 61,374 shares in the company, valued at $9,957,931.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert J. Picciano sold 1,922 shares of the business’s stock in a transaction that occurred on Wednesday, August 31st. The shares were sold at an average price of $159.16, for a total value of $305,905.52. Following the completion of the sale, the insider now owns 35,861 shares of the company’s stock, valued at $5,707,636.76. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.

About International Business Machines Corp.

International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Global Technology Services (GTS), Global Business Services (GBS), Software, Systems Hardware and Global Financing. The Company’s GTS segment offers services, including strategic outsourcing, integrated technology services, cloud and technology support services (maintenance services).

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