PCM Encore LLC Takes Position in International Business Machines Corporation $IBM

PCM Encore LLC bought a new position in shares of International Business Machines Corporation (NYSE:IBM) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,310 shares of the technology company’s stock, valued at approximately $650,000.

Several other large investors have also recently bought and sold shares of the stock. Basepoint Wealth LLC acquired a new position in shares of International Business Machines in the fourth quarter valued at approximately $25,000. Portus Wealth Advisors LLC acquired a new position in International Business Machines in the 1st quarter valued at $26,000. Harborfront Financial Group LLC acquired a new position in International Business Machines in the 2nd quarter valued at $27,000. Cornerstone Financial Management LLC bought a new position in International Business Machines during the 4th quarter worth $28,000. Finally, SWAN Capital LLC acquired a new stake in shares of International Business Machines during the third quarter worth $28,000. 58.96% of the stock is owned by institutional investors.

Insider Transactions at International Business Machines

In other news, SVP Robert Thomas sold 25,000 shares of the stock in a transaction dated 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.27% of the stock is currently owned by corporate insiders.

International Business Machines Trading Up 0.1%

Shares of International Business Machines stock opened at $234.87 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.63. International Business Machines Corporation has a 12-month low of $199.19 and a 12-month high of $332.46. The company has a market capitalization of $221.28 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 2.24 and a beta of 0.71. The firm’s 50-day moving average price is $241.67 and its two-hundred day moving average price is $247.13.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.93. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. The company had revenue of $17.16 billion during the quarter, compared to the consensus estimate of $17.46 billion. During the same quarter in the prior year, the firm posted $2.80 EPS. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. On average, analysts forecast that International Business Machines Corporation will post 12.33 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 2.9%. International Business Machines’s dividend payout ratio (DPR) is 59.98%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on IBM shares. KeyCorp cut shares of International Business Machines to a “sector weight” rating in a research report on Tuesday, June 23rd. BMO Capital Markets dropped their price objective on shares of International Business Machines from $270.00 to $230.00 and set a “market perform” rating for the company in a research note on Thursday, July 23rd. Royal Bank Of Canada restated an “outperform” rating and set a $270.00 target price on shares of International Business Machines in a research report on Tuesday, July 21st. Robert W. Baird began coverage on shares of International Business Machines in a research report on Tuesday, July 21st. They issued a “neutral” rating and a $230.00 price target for the company. Finally, Wolfe Research downgraded International Business Machines to a “peer perform” rating in a research report on Tuesday, June 23rd. 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $265.90.

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.