6,459 Shares in International Business Machines Corporation $IBM Bought by Whalen Wealth Management Inc.

Whalen Wealth Management Inc. acquired a new stake in shares of International Business Machines Corporation (NYSE:IBM) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 6,459 shares of the technology company’s stock, valued at approximately $1,816,000. International Business Machines makes up approximately 0.8% of Whalen Wealth Management Inc.’s investment portfolio, making the stock its 26th biggest holding.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IBM. Brighton Jones LLC boosted its holdings in shares of International Business Machines by 12.4% in the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock valued at $4,619,000 after buying an additional 2,323 shares in the last quarter. Sivia Capital Partners LLC raised its stake in shares of International Business Machines by 10.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,938 shares of the technology company’s stock worth $571,000 after acquiring an additional 186 shares in the last quarter. Jump Financial LLC bought a new position in shares of International Business Machines during the 2nd quarter worth approximately $211,000. Ieq Capital LLC lifted its position in International Business Machines by 2.2% during the second quarter. Ieq Capital LLC now owns 38,617 shares of the technology company’s stock valued at $11,383,000 after acquiring an additional 843 shares during the last quarter. Finally, Vivaldi Capital Management LP boosted its stake in International Business Machines by 11.6% in the second quarter. Vivaldi Capital Management LP now owns 1,017 shares of the technology company’s stock valued at $300,000 after acquiring an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on IBM shares. JPMorgan Chase & Co. reduced their price target on International Business Machines from $291.00 to $250.00 and set an “overweight” rating on the stock in a research report on Friday, July 17th. The Goldman Sachs Group set a $270.00 target price on International Business Machines in a research note on Thursday, July 23rd. HSBC set a $175.00 target price on International Business Machines and gave the company a “reduce” rating in a research report on Thursday, July 16th. Morgan Stanley decreased their price target on International Business Machines from $293.00 to $190.00 and set an “equal weight” rating for the company in a research note on Thursday, July 23rd. Finally, Susquehanna raised their price target on International Business Machines from $225.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, August 31st. Sixteen equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $265.90.

International Business Machines Trading Down 0.1%

NYSE:IBM opened at $234.77 on Tuesday. The company has a market capitalization of $221.18 billion, a P/E ratio of 20.83, a PEG ratio of 2.24 and a beta of 0.71. 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 Corporation has a 12 month low of $199.19 and a 12 month high of $332.46. The firm has a fifty day simple moving average of $240.81 and a 200-day simple moving average of $246.86.

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

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 10th will be paid a $1.69 dividend. This represents a $6.76 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, August 10th. International Business Machines’s dividend payout ratio (DPR) is presently 59.98%.

Insider Activity at International Business Machines

In related news, SVP Robert Thomas sold 25,000 shares of the company’s 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 sale, the senior vice president owned 47,800 shares in the company, valued at $11,009,296. This represents a 34.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.27% of the stock is owned by company insiders.

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.