NFJ Investment Group LLC Invests $18.93 Million in International Business Machines Corporation $IBM

NFJ Investment Group LLC purchased a new stake in shares of International Business Machines Corporation (NYSE:IBM) in the 2nd quarter, Holdings Channel reports. The fund purchased 67,315 shares of the technology company’s stock, valued at approximately $18,930,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of IBM. AlpenGlobal Capital LLC purchased a new position in International Business Machines during the 2nd quarter worth $2,976,000. Silvant Capital Management LLC purchased a new stake in shares of International Business Machines in the 2nd quarter worth $2,579,000. LaSalle St. Investment Advisors LLC bought a new position in shares of International Business Machines during the 2nd quarter worth $942,000. Mystic Asset Management Inc. bought a new position in shares of International Business Machines during the 2nd quarter worth $5,615,000. Finally, KilterHowling LLC purchased a new position in shares of International Business Machines during the second quarter valued at $282,000. Institutional investors own 58.96% of the company’s stock.

Insiders Place Their Bets

In other International Business Machines news, SVP Robert Thomas sold 25,000 shares of International Business Machines stock in a transaction 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 transaction, the senior vice president directly owned 47,800 shares of the company’s stock, valued at approximately $11,009,296. The trade was a 34.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.27% of the stock is currently owned by company insiders.

International Business Machines Price Performance

IBM opened at $234.87 on Friday. The firm has a market capitalization 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. 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 business’s 50-day moving average is $241.67 and its two-hundred day moving average is $247.13. International Business Machines Corporation has a 1 year low of $199.19 and a 1 year high of $332.46.

International Business Machines (NYSE:IBM) last released 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. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. The business had revenue of $17.16 billion during the quarter, compared to analyst estimates of $17.46 billion. During the same period in the prior year, the firm posted $2.80 earnings per share. The company’s quarterly revenue was up 1.1% on a year-over-year basis. Research analysts anticipate that International Business Machines Corporation will post 12.33 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors 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 is presently 59.98%.

Analysts Set New Price Targets

Several research firms recently weighed in on IBM. Morgan Stanley decreased 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. Robert W. Baird assumed coverage on shares of International Business Machines in a research report on Tuesday, July 21st. They set a “neutral” rating and a $230.00 target price on the stock. BMO Capital Markets reduced their price target on shares of International Business Machines from $270.00 to $230.00 and set a “market perform” rating for the company in a report on Thursday, July 23rd. Wolfe Research cut shares of International Business Machines to a “peer perform” rating in a research report on Tuesday, June 23rd. Finally, Citigroup dropped their price objective on shares of International Business Machines from $255.00 to $245.00 and set a “buy” rating on the stock in a research note on Friday, July 24th. Sixteen analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $265.90.

About International Business Machines

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.