Lucus Advisors LLC acquired a new position in shares of International Business Machines Corporation (NYSE:IBM) during the first quarter, Holdings Channel reports. The fund acquired 2,358 shares of the technology company’s stock, valued at approximately $411,000.

Several other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new position in shares of International Business Machines Corporation during the fourth quarter worth about $1,366,710,000. DekaBank Deutsche Girozentrale boosted its position in shares of International Business Machines Corporation by 70.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 646,799 shares of the technology company’s stock worth $112,830,000 after buying an additional 267,588 shares in the last quarter. State of Tennessee Treasury Department boosted its position in shares of International Business Machines Corporation by 75.4% in the first quarter. State of Tennessee Treasury Department now owns 484,458 shares of the technology company’s stock worth $84,364,000 after buying an additional 208,192 shares in the last quarter. British Airways Pensions Investment Management Ltd acquired a new position in shares of International Business Machines Corporation during the first quarter worth about $23,149,000. Finally, Parnassus Investments CA boosted its position in shares of International Business Machines Corporation by 12.4% in the first quarter. Parnassus Investments CA now owns 1,135,000 shares of the technology company’s stock worth $197,649,000 after buying an additional 125,000 shares in the last quarter. Institutional investors own 58.73% of the company’s stock.

Shares of International Business Machines Corporation (NYSE:IBM) traded up 0.09% during mid-day trading on Thursday, reaching $141.90. 731,347 shares of the company’s stock traded hands. International Business Machines Corporation has a 12 month low of $141.19 and a 12 month high of $182.79. The company has a market cap of $132.24 billion, a price-to-earnings ratio of 11.78 and a beta of 0.97. The company has a 50 day moving average of $149.90 and a 200 day moving average of $162.86.

International Business Machines Corporation (NYSE:IBM) last issued its quarterly earnings results on Tuesday, July 18th. The technology company reported $2.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.74 by $0.23. International Business Machines Corporation had a return on equity of 71.53% and a net margin of 14.58%. The firm had revenue of $19.29 billion for the quarter, compared to analyst estimates of $19.45 billion. During the same period in the previous year, the firm earned $2.95 earnings per share. The company’s revenue was down 4.7% compared to the same quarter last year. Analysts expect that International Business Machines Corporation will post $13.74 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, September 9th. Shareholders of record on Thursday, August 10th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 4.23%. The ex-dividend date of this dividend is Tuesday, August 8th. International Business Machines Corporation’s dividend payout ratio (DPR) is presently 49.88%.

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IBM has been the topic of several analyst reports. Vetr lowered shares of International Business Machines Corporation from a “sell” rating to a “strong sell” rating and set a $152.23 target price on the stock. in a report on Monday, April 17th. Goldman Sachs Group, Inc. (The) lowered their target price on shares of International Business Machines Corporation from $175.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, April 19th. Zacks Investment Research lowered shares of International Business Machines Corporation from a “hold” rating to a “sell” rating in a report on Friday, April 21st. Drexel Hamilton reaffirmed a “buy” rating and issued a $200.00 target price on shares of International Business Machines Corporation in a report on Tuesday, July 18th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $212.00 target price on shares of International Business Machines Corporation in a report on Wednesday, April 19th. Seven research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $157.40.

In other International Business Machines Corporation news, Director James W. Owens purchased 1,718 shares of the company’s stock in a transaction on Tuesday, May 16th. The shares were purchased at an average cost of $153.19 per share, with a total value of $263,180.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.23% of the stock is currently owned by insiders.

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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