2,980 Shares in International Business Machines Corporation $IBM Acquired by Somerville Kurt F

Somerville Kurt F purchased a new position in International Business Machines Corporation (NYSE:IBM) in the second quarter, HoldingsChannel.com reports. The firm purchased 2,980 shares of the technology company’s stock, valued at approximately $838,000.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in International Business Machines in the 2nd quarter valued at about $21,586,659,000. State Street Corp raised its position in shares of 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 in the last quarter. Geode Capital Management LLC raised its position in shares of 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 purchasing an additional 336,069 shares in the last quarter. Capital World Investors boosted its stake in shares of International Business Machines by 29.2% during 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 during the last quarter. Finally, Bank of America Corp DE grew its position in shares of International Business Machines by 7.0% during the first 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 in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insiders Place Their Bets

In related 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 in the company, valued at $11,009,296. This represents a 34.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.27% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IBM. Wedbush set a $350.00 target price on shares of International Business Machines in a research report on Tuesday, June 2nd. Morgan Stanley reduced their target price on International Business Machines from $293.00 to $190.00 and set an “equal weight” rating on the stock in a report on Thursday, July 23rd. Sanford C. Bernstein reiterated a “market perform” rating on shares of International Business Machines in a research report on Thursday, July 16th. Oppenheimer downgraded International Business Machines from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 15th. Finally, Weiss Ratings lowered International Business Machines from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, June 24th. Sixteen investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $265.90.

International Business Machines Stock Performance

IBM opened at $234.87 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.63. The business’s 50 day moving average is $241.67 and its 200-day moving average is $247.13. The stock has a market cap of $221.28 billion, a PE 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.

International Business Machines (NYSE:IBM) 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 for the quarter, compared to analysts’ expectations of $17.46 billion. International Business Machines had a return on equity of 35.65% and a net margin of 15.52%.The firm’s revenue was up 1.1% compared to the same quarter last year. During the same period last year, the firm earned $2.80 EPS. On average, analysts predict that International Business Machines Corporation will post 12.33 earnings per share for the current year.

International Business Machines Dividend Announcement

The business 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 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 currently 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.