one8zero8 LLC bought a new stake in International Business Machines Corporation (NYSE:IBM – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,627 shares of the technology company’s stock, valued at approximately $1,301,000.
Several other hedge funds have also recently added to or reduced their stakes in IBM. Addison Advisors LLC acquired a new position in International Business Machines during the 2nd quarter worth $155,000. West Family Investments Inc. acquired a new position in shares of International Business Machines during the second quarter valued at $1,241,000. Bantamac Capital LLC acquired a new position in shares of International Business Machines during the second quarter valued at $787,000. Tacita Capital Inc bought a new stake in shares of International Business Machines during the second quarter valued at about $53,000. Finally, Knuff & Co LLC acquired a new stake in International Business Machines in the second quarter worth about $281,000. Institutional investors own 58.96% of the company’s stock.
Insider Activity at International Business Machines
In related news, SVP Robert Thomas sold 25,000 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $230.32, for a total transaction of $5,758,000.00. Following the completion of the sale, the senior vice president directly owned 47,800 shares of the company’s stock, valued at $11,009,296. This represents a 34.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is owned by insiders.
Analysts Set New Price Targets
Get Our Latest Analysis on International Business Machines
International Business Machines Trading Up 0.1%
Shares of IBM stock opened at $234.87 on Friday. The stock has a 50-day simple moving average of $241.67 and a 200 day simple moving average of $247.13. The stock has a market capitalization of $221.28 billion, a P/E ratio of 20.84, a P/E/G ratio of 2.24 and a beta of 0.71. International Business Machines Corporation has a fifty-two week low of $199.19 and a fifty-two week high of $332.46. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.63.
International Business Machines (NYSE:IBM – Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The technology company reported $2.93 EPS for the quarter, hitting the consensus estimate of $2.93. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. The firm had revenue of $17.16 billion for the quarter, compared to analysts’ expectations of $17.46 billion. During the same period in the previous year, the business earned $2.80 earnings per share. International Business Machines’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, sell-side analysts expect that International Business Machines Corporation will post 12.33 earnings per share for the current fiscal year.
International Business Machines Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 10th will be issued a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Monday, August 10th. International Business Machines’s payout ratio is presently 59.98%.
International Business Machines Company Profile
International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.
IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.
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