one8zero8 LLC Takes Position in International Business Machines Corporation $IBM

one8zero8 LLC purchased a new position in International Business Machines Corporation (NYSE:IBM) during the second quarter, Holdings Channel.com reports. The firm purchased 4,627 shares of the technology company’s stock, valued at approximately $1,301,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Basepoint Wealth LLC acquired a new position in shares of International Business Machines in the fourth quarter worth about $25,000. Portus Wealth Advisors LLC acquired a new stake in shares of International Business Machines during the first quarter valued at approximately $26,000. Harborfront Financial Group LLC acquired a new stake in shares of International Business Machines during the second quarter valued at approximately $27,000. Cornerstone Financial Management LLC purchased a new stake in shares of International Business Machines in the 4th quarter valued at approximately $28,000. Finally, SWAN Capital LLC purchased a new stake in shares of International Business Machines in the 3rd quarter valued at approximately $28,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Buying and Selling at International Business Machines

In other news, SVP Robert Thomas sold 25,000 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was 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 directly owned 47,800 shares of the company’s stock, valued at approximately $11,009,296. This represents a 34.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on IBM. Stifel Nicolaus lowered their price objective on shares of International Business Machines from $290.00 to $235.00 and set a “buy” rating on the stock in a research report on Monday, July 20th. Royal Bank Of Canada restated an “outperform” rating and issued a $270.00 target price on shares of International Business Machines in a report on Tuesday, July 21st. The Goldman Sachs Group set a $270.00 target price on International Business Machines in a research report on Thursday, July 23rd. Barclays dropped their price target on International Business Machines from $288.00 to $262.00 and set an “overweight” rating on the stock in a research report on Thursday, July 23rd. Finally, Sanford C. Bernstein reissued a “market perform” rating on shares of International Business Machines in a research report on Thursday, July 16th. Sixteen investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $265.90.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $234.87 on Friday. The business has a 50-day moving average of $241.67 and a two-hundred day moving average of $247.13. 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 debt-to-equity ratio of 1.63, a current ratio of 0.79 and a quick ratio of 0.74. 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 (NYSE:IBM) last announced its quarterly earnings results on Wednesday, July 22nd. The technology company reported $2.93 EPS for the quarter, meeting the consensus estimate of $2.93. The company had revenue of $17.16 billion for 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 company’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.80 earnings per share. On average, equities research analysts predict that International Business Machines Corporation will post 12.33 EPS 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 paid a dividend of $1.69 per share. The ex-dividend date is Monday, August 10th. This represents a $6.76 annualized dividend and a yield of 2.9%. International Business Machines’s dividend payout ratio is presently 59.98%.

International Business Machines 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.