W1M Asset Management Ltd purchased a new stake in International Business Machines Corporation (NYSE:IBM – Free Report) during the second quarter, HoldingsChannel.com reports. The firm purchased 1,157,301 shares of the technology company’s stock, valued at approximately $325,531,000. International Business Machines makes up about 3.0% of W1M Asset Management Ltd’s holdings, making the stock its 18th largest position.
Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of International Business Machines during the second quarter worth approximately $21,586,659,000. State Street Corp boosted its stake in International Business Machines by 1.0% in the 4th quarter. State Street Corp now owns 54,996,293 shares of the technology company’s stock valued at $16,290,452,000 after purchasing an additional 518,321 shares during the period. Geode Capital Management LLC grew its holdings in International Business Machines by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 22,605,083 shares of the technology company’s stock valued at $6,679,105,000 after buying an additional 336,069 shares in the last quarter. Capital World Investors grew its holdings in International Business Machines by 29.2% in the 4th quarter. Capital World Investors now owns 22,021,912 shares of the technology company’s stock valued at $6,523,720,000 after buying an additional 4,976,756 shares in the last quarter. Finally, Bank of America Corp DE increased its position in International Business Machines by 7.0% during the 1st quarter. Bank of America Corp DE now owns 16,063,653 shares of the technology company’s stock worth $3,893,669,000 after buying an additional 1,049,602 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling 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 dated 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 transaction, the senior vice president directly owned 47,800 shares of the company’s stock, valued at approximately $11,009,296. The trade was a 34.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
View Our Latest Stock Analysis on IBM
International Business Machines Trading Down 0.0%
NYSE IBM opened at $234.87 on Monday. The company has a market cap of $221.28 billion, a price-to-earnings ratio of 20.84, a price-to-earnings-growth ratio of 2.24 and a beta of 0.71. International Business Machines Corporation has a twelve month low of $199.19 and a twelve 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 business’s fifty day moving average is $241.67 and its 200 day moving average is $247.02.
International Business Machines (NYSE:IBM – Get Free Report) last posted its earnings results 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 during the quarter, compared to the consensus estimate of $17.46 billion. International Business Machines had a return on equity of 35.65% and a net margin of 15.52%.The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the company earned $2.80 earnings per share. As a group, sell-side analysts expect 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. Stockholders of record on Monday, August 10th will be issued a dividend of $1.69 per share. 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 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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