Oxford Financial Group LTD. LLC acquired a new stake in shares of International Business Machines Corporation (NYSE:IBM – Free Report) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 4,681 shares of the technology company’s stock, valued at approximately $1,316,000.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Basepoint Wealth LLC bought a new position in shares of International Business Machines in the fourth quarter worth $25,000. Cornerstone Financial Management LLC bought a new stake in International Business Machines during the fourth quarter valued at $28,000. Harborfront Financial Group LLC bought a new stake in International Business Machines during the second quarter valued at $27,000. Hara Capital LLC purchased a new position in International Business Machines during the second quarter worth about $28,000. Finally, SWAN Capital LLC bought a new position in International Business Machines in the 3rd quarter worth about $28,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research firms have weighed in on IBM. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of International Business Machines in a report on Thursday, July 16th. Barclays cut their price objective on International Business Machines from $288.00 to $262.00 and set an “overweight” rating for the company in a report on Thursday, July 23rd. BMO Capital Markets lowered their target price on shares of International Business Machines from $270.00 to $230.00 and set a “market perform” rating on the stock in a research note on Thursday, July 23rd. Robert W. Baird assumed coverage on shares of International Business Machines in a research report on Tuesday, July 21st. They set a “neutral” rating and a $230.00 target price for the company. Finally, Argus cut their price target on shares of International Business Machines from $360.00 to $280.00 and set a “buy” rating for the company in a research note on Thursday, July 16th. Sixteen investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $265.90.
Insider Activity at International Business Machines
In other International Business Machines news, SVP Robert Thomas sold 25,000 shares of International Business Machines 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 transaction, the senior vice president directly owned 47,800 shares of the company’s stock, valued at approximately $11,009,296. This trade represents a 34.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.27% of the company’s stock.
International Business Machines Trading Up 0.1%
Shares of IBM stock opened at $234.87 on Friday. The business has a 50-day moving average price of $241.67 and a two-hundred day moving average price of $247.13. International Business Machines Corporation has a 12-month low of $199.19 and a 12-month 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. The firm has a market cap of $221.28 billion, a P/E ratio of 20.84, a price-to-earnings-growth ratio of 2.24 and a beta of 0.71.
International Business Machines (NYSE:IBM – Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The technology company reported $2.93 EPS for the quarter, meeting the consensus estimate of $2.93. The firm had revenue of $17.16 billion for the quarter, compared to analyst estimates of $17.46 billion. International Business Machines had a return on equity of 35.65% and a net margin of 15.52%.The company’s revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.80 EPS. Equities analysts anticipate that International Business Machines Corporation will post 12.33 EPS for the current fiscal year.
International Business Machines Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 10th will be given a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Monday, August 10th. International Business Machines’s dividend payout ratio (DPR) 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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