Baystate Wealth Management LLC Has $1.26 Million Stake in International Business Machines Corporation (IBM)

Baystate Wealth Management LLC raised its stake in shares of International Business Machines Corporation (NYSE:IBM) by 3.0% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 7,374 shares of the technology company’s stock after buying an additional 212 shares during the period. International Business Machines Corporation comprises 0.2% of Baystate Wealth Management LLC’s investment portfolio, making the stock its 23rd largest position. Baystate Wealth Management LLC’s holdings in International Business Machines Corporation were worth $1,258,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Hemenway Trust Co LLC acquired a new position in International Business Machines Corporation during the fourth quarter valued at $110,000. Thomas J. Herzfeld Advisors Inc. acquired a new position in International Business Machines Corporation during the fourth quarter valued at $117,000. Capital Analysts LLC boosted its position in International Business Machines Corporation by 5.5% in the fourth quarter. Capital Analysts LLC now owns 726 shares of the technology company’s stock valued at $121,000 after buying an additional 38 shares during the period. Jackson Grant Investment Advisers Inc. boosted its position in International Business Machines Corporation by 0.8% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 737 shares of the technology company’s stock valued at $122,000 after buying an additional 6 shares during the period. Finally, FNY Partners Fund LP acquired a new position in International Business Machines Corporation during the fourth quarter valued at $166,000. 58.29% of the stock is currently owned by institutional investors.

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

Shares of International Business Machines Corporation (NYSE:IBM) opened at 154.11 on Friday. The company has a market capitalization of $144.79 billion, a PE ratio of 12.67 and a beta of 0.97. The stock’s 50 day moving average price is $153.28 and its 200-day moving average price is $167.12. International Business Machines Corporation has a 52-week low of $142.50 and a 52-week high of $182.79.

International Business Machines Corporation (NYSE:IBM) last released its quarterly earnings results on Tuesday, April 18th. The technology company reported $2.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.35 by $0.03. The business had revenue of $18.16 billion during the quarter, compared to analysts’ expectations of $18.37 billion. International Business Machines Corporation had a return on equity of 74.46% and a net margin of 14.62%. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period last year, the firm posted $2.35 EPS. On average, analysts expect that International Business Machines Corporation will post $13.70 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Saturday, June 10th. Investors of record on Wednesday, May 10th were issued a dividend of $1.50 per share. This is a boost from International Business Machines Corporation’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a yield of 3.89%. The ex-dividend date was Monday, May 8th. International Business Machines Corporation’s dividend payout ratio (DPR) is presently 49.34%.

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Several brokerages have recently issued reports on IBM. Pacific Crest began coverage on International Business Machines Corporation in a report on Thursday, May 18th. They set an “equal weight” rating and a $151.35 price target for the company. BMO Capital Markets reduced their price target on International Business Machines Corporation from $170.00 to $165.00 and set a “market perform” rating for the company in a report on Wednesday, April 19th. Deutsche Bank AG reiterated a “hold” rating and set a $150.00 price target on shares of International Business Machines Corporation in a report on Wednesday, April 19th. Vetr upgraded International Business Machines Corporation from a “sell” rating to a “hold” rating and set a $147.97 price target for the company in a report on Monday, May 15th. Finally, Argus reiterated a “buy” rating and set a $192.00 price target (up from $185.00) on shares of International Business Machines Corporation in a report on Wednesday, March 22nd. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $164.85.

In other news, Director James W. Owens purchased 1,718 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The stock was acquired at an average cost 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 hyperlink. Company insiders own 0.23% of the company’s stock.

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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