Patron Partners LLC purchased a new stake in shares of International Business Machines Corporation (NYSE:IBM – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 2,839 shares of the technology company’s stock, valued at approximately $798,000.
A number of other large investors also recently bought and sold shares of IBM. Basepoint Wealth LLC acquired a new stake in shares of International Business Machines during the 4th quarter worth approximately $25,000. Cornerstone Financial Management LLC acquired a new position in shares of International Business Machines in the 4th quarter valued at $28,000. Harborfront Financial Group LLC purchased a new stake in International Business Machines during the second quarter worth $27,000. Hara Capital LLC purchased a new stake in International Business Machines during the second quarter worth $28,000. Finally, SWAN Capital LLC acquired a new stake in International Business Machines during the third quarter valued at $28,000. 58.96% of the stock is owned by institutional investors and hedge funds.
International Business Machines Stock Performance
NYSE:IBM opened at $234.87 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.74 and a current ratio of 0.79. The stock has a market capitalization of $221.28 billion, a PE 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 fifty day moving average of $241.67 and a two-hundred day moving average of $247.13.
International Business Machines Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 10th will be paid a $1.69 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $6.76 dividend on an annualized basis and a yield of 2.9%. International Business Machines’s dividend payout ratio (DPR) is currently 59.98%.
Analyst Ratings Changes
A number of research firms have weighed in on IBM. Stifel Nicolaus cut their price objective on shares of International Business Machines from $290.00 to $235.00 and set a “buy” rating for the company in a report on Monday, July 20th. Citigroup lowered their target price on shares of International Business Machines from $255.00 to $245.00 and set a “buy” rating on the stock in a research note on Friday, July 24th. Roth Capital restated a “buy” rating on shares of International Business Machines in a research report on Wednesday, June 3rd. Robert W. Baird initiated coverage on International Business Machines in a research note on Tuesday, July 21st. They issued a “neutral” rating and a $230.00 price target for the company. Finally, HSBC set a $175.00 price target on International Business Machines and gave the stock a “reduce” rating in a report on Thursday, July 16th. Sixteen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $265.90.
Check Out Our Latest Analysis on International Business Machines
Insider Transactions at International Business Machines
In other International Business Machines news, SVP Robert Thomas sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was 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 in the company, valued at approximately $11,009,296. The trade was a 34.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.27% of the company’s stock.
About International Business Machines
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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