Whalen Wealth Management Inc. purchased a new position in International Business Machines Corporation (NYSE:IBM – Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 6,459 shares of the technology company’s stock, valued at approximately $1,816,000. International Business Machines makes up 0.8% of Whalen Wealth Management Inc.’s portfolio, making the stock its 26th largest position.
Several other institutional investors have also modified their holdings of IBM. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its holdings in shares of International Business Machines by 424.6% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 260,740 shares of the technology company’s stock worth $77,234,000 after acquiring an additional 211,040 shares during the last quarter. Assetmark Inc. grew its holdings in International Business Machines by 24.8% during the 1st quarter. Assetmark Inc. now owns 64,458 shares of the technology company’s stock valued at $15,624,000 after purchasing an additional 12,791 shares during the last quarter. GLOBALT Investments LLC GA raised its position in International Business Machines by 19.1% in the 4th quarter. GLOBALT Investments LLC GA now owns 18,288 shares of the technology company’s stock worth $5,417,000 after purchasing an additional 2,930 shares during the period. Rice Partnership LLC purchased a new stake in International Business Machines in the 4th quarter worth about $3,317,000. Finally, Sage Investment Advisers LLC bought a new stake in International Business Machines in the fourth quarter worth about $4,101,000. 58.96% of the stock is owned by institutional investors.
International Business Machines Price Performance
Shares of IBM stock opened at $234.77 on Tuesday. International Business Machines Corporation has a twelve month low of $199.19 and a twelve month high of $332.46. The stock has a market capitalization of $221.18 billion, a price-to-earnings ratio of 20.83, a P/E/G ratio of 2.24 and a beta of 0.71. The stock has a fifty day simple moving average of $240.81 and a two-hundred day simple moving average of $246.86. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.63.
International Business Machines Dividend Announcement
The firm also recently announced 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. 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 59.98%.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on the company. Morgan Stanley dropped their price objective on International Business Machines from $293.00 to $190.00 and set an “equal weight” rating for the company in a report on Thursday, July 23rd. Wall Street Zen upgraded International Business Machines from a “sell” rating to a “hold” rating in a research report on Saturday, August 29th. Wedbush set a $350.00 price target on shares of International Business Machines in a report on Tuesday, June 2nd. Jefferies Financial Group decreased their price objective on shares of International Business Machines from $320.00 to $260.00 and set a “buy” rating for the company in a report on Tuesday, July 21st. Finally, Roth Capital restated a “buy” rating on shares of International Business Machines in a research note on Wednesday, June 3rd. Sixteen research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $265.90.
View Our Latest Stock Analysis on IBM
Insider Activity at International Business Machines
In other news, SVP Robert Thomas sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $230.32, for a total value of $5,758,000.00. Following the completion of the sale, the senior vice president owned 47,800 shares of the company’s stock, valued at approximately $11,009,296. This represents a 34.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.27% of the company’s stock.
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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