Meridian Wealth Management LLC raised its stake in International Business Machines Corporation (NYSE:IBM) by 21.0% during the first quarter, Holdings Channel reports. The institutional investor owned 3,620 shares of the technology company’s stock after buying an additional 629 shares during the period. Meridian Wealth Management LLC’s holdings in International Business Machines Corporation were worth $630,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Summit Global Investments raised its stake in International Business Machines Corporation by 3.3% in the first quarter. Summit Global Investments now owns 35,235 shares of the technology company’s stock valued at $6,136,000 after buying an additional 1,113 shares in the last quarter. Security National Bank of SO Dak raised its stake in International Business Machines Corporation by 0.5% in the first quarter. Security National Bank of SO Dak now owns 7,743 shares of the technology company’s stock valued at $1,348,000 after buying an additional 41 shares in the last quarter. Ironwood Investment Management LLC raised its stake in International Business Machines Corporation by 0.4% in the first quarter. Ironwood Investment Management LLC now owns 8,921 shares of the technology company’s stock valued at $1,554,000 after buying an additional 33 shares in the last quarter. Lumbard & Kellner LLC raised its stake in International Business Machines Corporation by 3.1% in the first quarter. Lumbard & Kellner LLC now owns 26,624 shares of the technology company’s stock valued at $4,636,000 after buying an additional 790 shares in the last quarter. Finally, Flagship Harbor Advisors LLC raised its stake in International Business Machines Corporation by 50.9% in the first quarter. Flagship Harbor Advisors LLC now owns 9,529 shares of the technology company’s stock valued at $1,647,000 after buying an additional 3,216 shares in the last quarter. Institutional investors and hedge funds own 58.57% of the company’s stock.

International Business Machines Corporation (IBM) traded up 0.42% during trading on Monday, hitting $142.43. The stock had a trading volume of 615,230 shares. The company’s 50-day moving average is $149.20 and its 200 day moving average is $162.50. International Business Machines Corporation has a 52 week low of $141.19 and a 52 week high of $182.79. The firm has a market cap of $132.74 billion, a PE ratio of 11.82 and a beta of 0.97.

International Business Machines Corporation (NYSE:IBM) last issued its quarterly earnings results on Tuesday, July 18th. The technology company reported $2.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.74 by $0.23. The company had revenue of $19.29 billion for 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 revenue for the quarter was down 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.95 EPS. Equities analysts expect 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. This represents a $6.00 annualized dividend and a dividend yield of 4.23%. The ex-dividend date is Tuesday, August 8th. International Business Machines Corporation’s payout ratio is presently 49.88%.

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Several equities research analysts recently commented on the stock. Sanford C. Bernstein reiterated a “market perform” rating and issued a $150.00 price objective on shares of International Business Machines Corporation in a research report on Wednesday, August 9th. Wedbush reiterated a “neutral” rating and issued a $155.00 price objective on shares of International Business Machines Corporation in a research report on Wednesday, August 9th. Vetr lowered shares of International Business Machines Corporation from a “buy” rating to a “hold” rating and set a $150.68 price objective on the stock. in a research report on Monday, August 7th. BidaskClub lowered shares of International Business Machines Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. Finally, UBS AG reiterated a “neutral” rating and issued a $159.00 price objective (down from $167.00) on shares of International Business Machines Corporation in a research report on Saturday, July 22nd. Seven analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have assigned a buy rating to the company. International Business Machines Corporation currently has an average rating of “Hold” and a consensus target price of $157.40.

In other news, Director James W. Owens acquired 1,718 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The shares were bought at an average price of $153.19 per share, with a total value of $263,180.42. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.23% of the stock is currently owned by company insiders.

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.

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

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