First Midwest Bank Trust Division Has $6.51 Million Stake in International Business Machines Corporation (IBM)

First Midwest Bank Trust Division raised its position in shares of International Business Machines Corporation (NYSE:IBM) by 0.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,375 shares of the technology company’s stock after buying an additional 194 shares during the period. International Business Machines Corporation makes up 0.8% of First Midwest Bank Trust Division’s holdings, making the stock its 22nd largest position. First Midwest Bank Trust Division’s holdings in International Business Machines Corporation were worth $6,508,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Wetherby Asset Management Inc. boosted its position in shares of International Business Machines Corporation by 4.0% in the fourth quarter. Wetherby Asset Management Inc. now owns 17,311 shares of the technology company’s stock worth $2,873,000 after buying an additional 663 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of International Business Machines Corporation by 2.8% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 30,686 shares of the technology company’s stock worth $5,094,000 after buying an additional 850 shares in the last quarter. Beaumont Financial Partners LLC boosted its position in shares of International Business Machines Corporation by 0.3% in the fourth quarter. Beaumont Financial Partners LLC now owns 3,250 shares of the technology company’s stock worth $539,000 after buying an additional 11 shares in the last quarter. Armor Investment Advisors LLC purchased a new position in shares of International Business Machines Corporation during the fourth quarter worth approximately $794,000. Finally, Elgethun Capital Management purchased a new position in shares of International Business Machines Corporation during the fourth quarter worth approximately $4,451,000. Hedge funds and other institutional investors own 58.18% of the company’s stock.

Shares of International Business Machines Corporation (IBM) traded down 0.54% on Friday, reaching $144.29. The company’s stock had a trading volume of 3,054,834 shares. International Business Machines Corporation has a one year low of $143.64 and a one year high of $182.79. The firm has a 50-day moving average price of $152.54 and a 200 day moving average price of $164.38. The firm has a market capitalization of $134.90 billion, a PE ratio of 11.98 and a beta of 0.98.

International Business Machines Corporation (NYSE:IBM) last posted its quarterly earnings data on Tuesday, July 18th. The technology company reported $2.97 earnings per share (EPS) for the quarter, topping 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 company had revenue of $19.29 billion for the quarter, compared to analysts’ expectations of $19.45 billion. During the same period in the previous year, the firm posted $2.95 EPS. International Business Machines Corporation’s revenue was down 4.7% compared to the same quarter last year. On average, analysts anticipate that International Business Machines Corporation will post $13.73 earnings per share for the current fiscal year.

The company 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 $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 4.16%. The ex-dividend date is Tuesday, August 8th. International Business Machines Corporation’s payout ratio is 49.88%.

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IBM has been the topic of a number of recent research reports. Berenberg Bank initiated coverage on International Business Machines Corporation in a research report on Tuesday, April 4th. They set a “sell” rating and a $140.00 price target on the stock. Vetr cut International Business Machines Corporation from a “buy” rating to a “hold” rating and set a $170.05 price target on the stock. in a research report on Tuesday, April 4th. Sanford C. Bernstein reissued a “market perform” rating and set a $150.00 price objective on shares of International Business Machines Corporation in a report on Tuesday, April 11th. Cantor Fitzgerald reissued a “hold” rating and set a $166.00 price objective on shares of International Business Machines Corporation in a report on Thursday, April 13th. Finally, Jefferies Group LLC reissued a “sell” rating and set a $135.00 price objective (down previously from $145.00) 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, seventeen have given a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $157.50.

In other news, Director James W. Owens acquired 1,718 shares of the stock in a transaction that occurred on Tuesday, May 16th. The shares were bought at an average cost of $153.19 per share, for a total transaction of $263,180.42. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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.

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

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