MEMBERS Trust Co purchased a new stake in International Business Machines Corporation (NYSE:IBM) during the first quarter, Holdings Channel reports. The institutional investor purchased 36,168 shares of the technology company’s stock, valued at approximately $6,299,000. International Business Machines Corporation accounts for 0.4% of MEMBERS Trust Co’s holdings, making the stock its 15th largest position.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Thomas J. Herzfeld Advisors Inc. acquired a new position in International Business Machines Corporation during the fourth quarter worth about $117,000. Jackson Grant Investment Advisers Inc. increased its position in International Business Machines Corporation by 0.8% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 737 shares of the technology company’s stock worth $122,000 after buying an additional 6 shares during the last quarter. CKW Financial Group increased its position 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 last quarter. Grisanti Capital Management LLC increased its position 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 last quarter. Finally, Pacific Center for Financial Services acquired a new position in International Business Machines Corporation during the fourth quarter worth about $195,000. Institutional investors and hedge funds own 58.73% of the company’s stock.

Shares of International Business Machines Corporation (NYSE:IBM) traded down 0.14% during trading on Friday, hitting $141.64. 890,070 shares of the stock traded hands. The firm has a market cap of $132.00 billion, a P/E ratio of 11.76 and a beta of 0.97. The company has a 50-day moving average of $149.55 and a 200-day moving average of $162.71. International Business Machines Corporation has a 52 week low of $141.19 and a 52 week high of $182.79.

International Business Machines Corporation (NYSE:IBM) last released its quarterly earnings data on Tuesday, July 18th. The technology company reported $2.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.74 by $0.23. The firm had revenue of $19.29 billion during the quarter, compared to the consensus estimate of $19.45 billion. International Business Machines Corporation had a return on equity of 71.53% and a net margin of 14.58%. The company’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.95 earnings per share. On average, analysts forecast that International Business Machines Corporation will post $13.74 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, September 9th. Stockholders of record on Thursday, August 10th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $6.00 annualized dividend and a dividend yield of 4.23%. International Business Machines Corporation’s dividend payout ratio is 49.88%.

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A number of research firms have issued reports on IBM. Pacific Crest began coverage on shares of International Business Machines Corporation in a research report on Thursday, May 18th. They set an “equal weight” rating and a $151.35 target price on the stock. Stifel Nicolaus restated a “buy” rating and set a $182.00 target price on shares of International Business Machines Corporation in a research report on Friday, July 21st. BMO Capital Markets cut their target price on shares of International Business Machines Corporation from $170.00 to $165.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 19th. Royal Bank Of Canada restated a “sector perform” rating and set a $160.00 target price (down from $165.00) on shares of International Business Machines Corporation in a research report on Saturday, July 22nd. Finally, Deutsche Bank AG restated a “hold” rating and set a $150.00 target price on shares of International Business Machines Corporation in a research report on Wednesday, April 19th. Seven analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $157.40.

In related news, Director James W. Owens purchased 1,718 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The stock was acquired at an average price of $153.19 per share, for a total transaction of $263,180.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.23% of the company’s stock.

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.

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

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