Rodgers Brothers Inc. Buys 20,645 Shares of International Business Machines Co. (NYSE:IBM)

Rodgers Brothers Inc. lifted its stake in International Business Machines Co. (NYSE:IBM) by 51.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,099 shares of the technology company’s stock after acquiring an additional 20,645 shares during the period. International Business Machines makes up about 1.7% of Rodgers Brothers Inc.’s holdings, making the stock its 16th largest holding. Rodgers Brothers Inc.’s holdings in International Business Machines were worth $8,142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new stake in International Business Machines during the fourth quarter valued at $1,116,008,000. Morgan Stanley boosted its stake in International Business Machines by 22.6% during the first quarter. Morgan Stanley now owns 12,082,219 shares of the technology company’s stock valued at $1,610,076,000 after buying an additional 2,228,318 shares during the period. BlackRock Inc. boosted its stake in International Business Machines by 3.2% during the first quarter. BlackRock Inc. now owns 64,286,216 shares of the technology company’s stock valued at $8,566,779,000 after buying an additional 2,014,943 shares during the period. Renaissance Technologies LLC boosted its stake in International Business Machines by 399.5% during the first quarter. Renaissance Technologies LLC now owns 1,391,514 shares of the technology company’s stock valued at $185,433,000 after buying an additional 1,112,914 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in International Business Machines by 32.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,623,563 shares of the technology company’s stock valued at $482,876,000 after buying an additional 883,128 shares during the period. 54.82% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts recently issued reports on the company. Credit Suisse Group lifted their price objective on International Business Machines from $160.00 to $165.00 and gave the company an “outperform” rating in a research note on Tuesday, April 20th. Societe Generale upgraded International Business Machines from a “sell” rating to a “hold” rating and raised their price target for the company from $121.00 to $140.00 in a research report on Tuesday. Stifel Nicolaus raised their price target on International Business Machines from $147.00 to $151.00 and gave the company a “buy” rating in a research report on Tuesday, April 20th. BMO Capital Markets raised their price target on International Business Machines from $150.00 to $155.00 and gave the company a “market perform” rating in a research report on Friday, July 16th. Finally, Citigroup raised their price target on International Business Machines from $140.00 to $150.00 and gave the company a “neutral” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $150.22.

Shares of IBM traded down $0.34 during trading hours on Thursday, hitting $140.96. The company had a trading volume of 57,103 shares, compared to its average volume of 5,094,093. The firm has a market cap of $125.95 billion, a price-to-earnings ratio of 23.83, a P/E/G ratio of 1.60 and a beta of 1.23. The company’s 50 day moving average is $144.32. The company has a current ratio of 0.84, a quick ratio of 0.88 and a debt-to-equity ratio of 2.21. International Business Machines Co. has a 52-week low of $105.92 and a 52-week high of $152.84.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Sunday, July 18th. The technology company reported $2.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.29 by $0.04. The firm had revenue of $18.75 billion for the quarter, compared to the consensus estimate of $18.30 billion. International Business Machines had a return on equity of 36.79% and a net margin of 7.17%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.18 earnings per share. On average, equities research analysts forecast that International Business Machines Co. will post 10.84 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 10th. Investors of record on Monday, May 10th were issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date of this dividend was Friday, May 7th. This is an increase from International Business Machines’s previous quarterly dividend of $1.63. International Business Machines’s payout ratio is currently 75.66%.

International Business Machines Company Profile

International Business Machines Corp. is an information technology company, which provides integrated solutions that leverage information technology and knowledge of business processes. It operates through the following segments: Cloud and Cognitive Software, Global Business Services, Global Technology Services, Systems, and Global Financing.

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

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