Stewart & Patten Co. LLC grew its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 0.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,594 shares of the technology company’s stock after buying an additional 265 shares during the quarter. International Business Machines Corporation accounts for about 2.3% of Stewart & Patten Co. LLC’s holdings, making the stock its 21st biggest position. Stewart & Patten Co. LLC’s holdings in International Business Machines Corporation were worth $12,398,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. SeaBridge Investment Advisors LLC boosted its holdings in International Business Machines Corporation by 18.9% during the second quarter. SeaBridge Investment Advisors LLC now owns 76,818 shares of the technology company’s stock worth $11,817,000 after purchasing an additional 12,236 shares during the last quarter. Intellectus Partners LLC boosted its holdings in International Business Machines Corporation by 9.8% during the first quarter. Intellectus Partners LLC now owns 16,817 shares of the technology company’s stock worth $2,929,000 after purchasing an additional 1,496 shares during the last quarter. CKW Financial Group boosted its holdings in International Business Machines Corporation by 14.8% during the first quarter. CKW Financial Group now owns 938 shares of the technology company’s stock worth $163,000 after purchasing an additional 121 shares during the last quarter. Argus Investors Counsel Inc. boosted its holdings in International Business Machines Corporation by 10.9% during the second quarter. Argus Investors Counsel Inc. now owns 26,876 shares of the technology company’s stock worth $4,134,000 after purchasing an additional 2,651 shares during the last quarter. Finally, SOL Capital Management CO boosted its holdings in International Business Machines Corporation by 0.6% during the second quarter. SOL Capital Management CO now owns 7,588 shares of the technology company’s stock worth $1,167,000 after purchasing an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 57.88% of the company’s stock.

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IBM has been the topic of several analyst reports. Vetr upgraded shares of International Business Machines Corporation from a “hold” rating to a “buy” rating and set a $159.56 price target on the stock in a report on Monday, July 10th. Drexel Hamilton reaffirmed a “buy” rating and issued a $200.00 price objective on shares of International Business Machines Corporation in a research report on Tuesday, July 18th. Standpoint Research raised shares of International Business Machines Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $182.00 price objective on shares of International Business Machines Corporation in a research report on Friday, July 21st. Finally, Argus reaffirmed a “buy” rating and issued a $175.00 price objective (down previously from $192.00) on shares of International Business Machines Corporation in a research report on Friday, July 21st. Seven equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $157.12.

Shares of International Business Machines Corporation (IBM) opened at 146.48 on Monday. International Business Machines Corporation has a 12-month low of $139.13 and a 12-month high of $182.79. The company has a market cap of $136.51 billion, a price-to-earnings ratio of 12.16 and a beta of 0.95. The company’s 50-day moving average is $144.33 and its 200-day moving average is $152.97.

International Business Machines Corporation (NYSE:IBM) last released its earnings results on Tuesday, July 18th. The technology company reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.74 by $0.23. International Business Machines Corporation had a net margin of 14.58% and a return on equity of 71.53%. The company had revenue of $19.29 billion for the quarter, compared to analysts’ expectations of $19.45 billion. During the same quarter last year, the business earned $2.95 EPS. The firm’s revenue was down 4.7% compared to the same quarter last year. Equities research analysts predict that International Business Machines Corporation will post $13.76 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Saturday, September 9th. Shareholders of record on Thursday, August 10th were paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend was Tuesday, August 8th. International Business Machines Corporation’s payout ratio is 49.88%.

International Business Machines Corporation 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.

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

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