Ballentine Partners LLC boosted its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 81.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,963 shares of the technology company’s stock after buying an additional 4,915 shares during the period. Ballentine Partners LLC’s holdings in International Business Machines Corporation were worth $1,608,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in IBM. Highstreet Asset Management Inc. raised its holdings in shares of International Business Machines Corporation by 466.1% in the second quarter. Highstreet Asset Management Inc. now owns 73,210 shares of the technology company’s stock valued at $11,267,000 after purchasing an additional 60,277 shares during the last quarter. Camden National Bank raised its holdings in shares of International Business Machines Corporation by 2.3% in the second quarter. Camden National Bank now owns 43,386 shares of the technology company’s stock valued at $6,674,000 after purchasing an additional 993 shares during the last quarter. Allegis Investment Advisors LLC raised its holdings in shares of International Business Machines Corporation by 5.6% in the second quarter. Allegis Investment Advisors LLC now owns 5,011 shares of the technology company’s stock valued at $771,000 after purchasing an additional 264 shares during the last quarter. Community Bank N.A. raised its holdings in shares of International Business Machines Corporation by 1.3% in the second quarter. Community Bank N.A. now owns 130,353 shares of the technology company’s stock valued at $20,053,000 after purchasing an additional 1,633 shares during the last quarter. Finally, Alps Advisors Inc. raised its holdings in shares of International Business Machines Corporation by 12.2% in the second quarter. Alps Advisors Inc. now owns 304,020 shares of the technology company’s stock valued at $46,767,000 after purchasing an additional 33,053 shares during the last quarter. Hedge funds and other institutional investors own 57.88% of the company’s stock.

Several analysts have recently commented on the stock. Cantor Fitzgerald reiterated a “hold” rating and issued a $154.00 target price (down previously from $166.00) on shares of International Business Machines Corporation in a report on Wednesday, July 19th. Argus reiterated a “buy” rating and issued a $175.00 target price (down previously from $192.00) on shares of International Business Machines Corporation in a report on Friday, July 21st. UBS AG reiterated a “neutral” rating and issued a $159.00 target price (down previously from $167.00) on shares of International Business Machines Corporation in a report on Saturday, July 22nd. Vetr upgraded shares of International Business Machines Corporation from a “hold” rating to a “buy” rating and set a $150.68 target price for the company in a report on Monday, July 31st. Finally, Wedbush reiterated a “neutral” rating and issued a $155.00 target price on shares of International Business Machines Corporation in a report on Wednesday, August 9th. Eight research analysts have rated the stock with a sell rating, seventeen have given a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $158.90.

Shares of International Business Machines Corporation (NYSE:IBM) opened at 154.06 on Wednesday. The company has a market capitalization of $143.18 billion, a P/E ratio of 12.85 and a beta of 0.95. International Business Machines Corporation has a 12 month low of $139.13 and a 12 month high of $182.79. The company has a 50-day moving average price of $149.10 and a 200-day moving average price of $150.35.

International Business Machines Corporation (NYSE:IBM) last announced its quarterly earnings results on Tuesday, October 17th. The technology company reported $3.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.28 by $0.02. International Business Machines Corporation had a return on equity of 68.68% and a net margin of 14.43%. The business had revenue of $19.15 billion for the quarter, compared to analyst estimates of $18.63 billion. During the same quarter in the prior year, the company posted $3.29 EPS. The company’s quarterly revenue was down .4% on a year-over-year basis. On average, analysts forecast that International Business Machines Corporation will post $13.80 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 9th. Stockholders of record on Friday, November 10th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 3.89%. International Business Machines Corporation’s dividend payout ratio (DPR) is presently 50.13%.

ILLEGAL ACTIVITY WARNING: This story was originally reported by TheOlympiaReport and is owned by of TheOlympiaReport. If you are accessing this story on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark legislation. The original version of this story can be read at https://theolympiareport.com/2017/11/01/ballentine-partners-llc-grows-holdings-in-international-business-machines-corporation-ibm.html.

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)

Receive News & Ratings for International Business Machines Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Business Machines Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.