Reilly Financial Advisors LLC boosted its position in International Business Machines Corporation (NYSE:IBM) by 117.7% during the second quarter, Holdings Channel reports. The institutional investor owned 3,376 shares of the technology company’s stock after buying an additional 1,825 shares during the period. Reilly Financial Advisors LLC’s holdings in International Business Machines Corporation were worth $519,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Ibex Wealth Advisors purchased a new position in shares of International Business Machines Corporation during the fourth quarter worth $2,784,000. River & Mercantile Asset Management LLP purchased a new position in shares of International Business Machines Corporation during the fourth quarter worth $9,918,000. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of International Business Machines Corporation during the fourth quarter worth $409,000. Norges Bank purchased a new position in shares of International Business Machines Corporation during the fourth quarter worth $1,366,710,000. Finally, Assenagon Asset Management S.A. purchased a new position in shares of International Business Machines Corporation during the fourth quarter worth $490,000. 58.73% of the stock is currently owned by institutional investors.

Shares of International Business Machines Corporation (IBM) traded down 0.053% during mid-day trading on Friday, hitting $141.765. 1,447,759 shares of the company traded hands. The firm has a 50-day moving average of $149.55 and a 200-day moving average of $162.71. The stock has a market capitalization of $132.12 billion, a price-to-earnings ratio of 11.766 and a beta of 0.97. International Business Machines Corporation has a one year low of $141.19 and a one year high of $182.79.

International Business Machines Corporation (NYSE:IBM) last announced its earnings results 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 company had revenue of $19.29 billion during the quarter, compared to the consensus estimate of $19.45 billion. International Business Machines Corporation had a net margin of 14.58% and a return on equity of 71.53%. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.95 earnings per share. On average, equities analysts predict that International Business Machines Corporation will post $13.74 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, September 9th. Investors 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 dividend on an annualized basis and a yield of 4.23%. International Business Machines Corporation’s dividend payout ratio (DPR) is presently 49.88%.

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A number of brokerages have recently weighed in on IBM. Vetr cut shares of International Business Machines Corporation from a “sell” rating to a “strong sell” rating and set a $152.23 price target on the stock. in a research report on Monday, April 17th. Cantor Fitzgerald reissued a “hold” rating and set a $166.00 price target on shares of International Business Machines Corporation in a research report on Thursday, April 13th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of International Business Machines Corporation in a research report on Tuesday, April 18th. Sanford C. Bernstein reissued a “market perform” rating and set a $150.00 price target on shares of International Business Machines Corporation in a research report on Wednesday, April 19th. Finally, Societe Generale cut shares of International Business Machines Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, April 19th. Seven equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $157.40.

In related news, Director James W. Owens acquired 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company 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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