Manning & Napier Advisors LLC Purchases 39,975 Shares of International Business Machines Corporation (IBM)

Manning & Napier Advisors LLC boosted its stake in shares of International Business Machines Corporation (NYSE:IBM) by 37.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 145,331 shares of the technology company’s stock after buying an additional 39,975 shares during the period. Manning & Napier Advisors LLC’s holdings in International Business Machines Corporation were worth $22,354,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Pinnacle Bank purchased a new stake in shares of International Business Machines Corporation during the first quarter valued at approximately $1,416,000. Nadler Financial Group Inc. boosted its stake in shares of International Business Machines Corporation by 14.1% in the first quarter. Nadler Financial Group Inc. now owns 2,595 shares of the technology company’s stock valued at $452,000 after buying an additional 320 shares during the last quarter. NewSquare Capital LLC boosted its stake in shares of International Business Machines Corporation by 13.7% in the first quarter. NewSquare Capital LLC now owns 6,502 shares of the technology company’s stock valued at $1,132,000 after buying an additional 782 shares during the last quarter. First Command Financial Services Inc. boosted its stake in shares of International Business Machines Corporation by 6.0% in the first quarter. First Command Financial Services Inc. now owns 6,866 shares of the technology company’s stock valued at $1,196,000 after buying an additional 389 shares during the last quarter. Finally, Barry Investment Advisors LLC boosted its stake in shares of International Business Machines Corporation by 8.4% in the first quarter. Barry Investment Advisors LLC now owns 3,181 shares of the technology company’s stock valued at $554,000 after buying an additional 247 shares during the last quarter. 58.57% of the stock is owned by institutional investors and hedge funds.

Shares of International Business Machines Corporation (IBM) traded down 0.01% during mid-day trading on Thursday, reaching $142.48. The company’s stock had a trading volume of 1,241,336 shares. International Business Machines Corporation has a 52-week low of $140.58 and a 52-week high of $182.79. The firm has a 50 day moving average price of $148.13 and a 200 day moving average price of $161.63. The firm has a market cap of $132.78 billion, a price-to-earnings ratio of 11.83 and a beta of 0.97.

International Business Machines Corporation (NYSE:IBM) last announced its quarterly earnings data on Tuesday, July 18th. The technology company reported $2.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.74 by $0.23. The firm had revenue of $19.29 billion during the quarter, compared to analysts’ expectations of $19.45 billion. International Business Machines Corporation had a return on equity of 71.53% and a net margin of 14.58%. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.95 EPS. On average, equities analysts predict that International Business Machines Corporation will post $13.74 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, September 9th. Shareholders of record on Thursday, August 10th will be issued a $1.50 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $6.00 annualized dividend and a yield of 4.21%. International Business Machines Corporation’s dividend payout ratio is presently 49.88%.

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IBM has been the subject of several recent research reports. Jefferies Group LLC set a $135.00 price target on International Business Machines Corporation and gave the company a “sell” rating in a research note on Friday, May 19th. Drexel Hamilton restated a “buy” rating and issued a $200.00 target price (down from $215.00) on shares of International Business Machines Corporation in a report on Saturday, April 22nd. Stifel Nicolaus restated a “buy” rating and issued a $182.00 target price on shares of International Business Machines Corporation in a report on Friday, July 21st. Bank of America Corporation restated a “buy” rating and issued a $180.00 target price (down from $185.00) on shares of International Business Machines Corporation in a report on Wednesday, April 19th. Finally, TheStreet lowered International Business Machines Corporation to a “hold” rating in a report on Friday, April 21st. Seven analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $157.40.

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.

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

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