1,157,301 Shares in International Business Machines Corporation $IBM Bought by W1M Asset Management Ltd

Key Points

• W1M Asset Management bought 1,157,301 IBM shares worth approximately $325.5 million, making IBM about 3% of its portfolio and its 18th-largest holding. Institutional investors collectively own 58.96% of IBM.
• IBM’s latest quarterly results matched earnings expectations at $2.93 per share, while revenue rose 1.1% year over year to $17.16 billion but fell short of the $17.46 billion consensus estimate.
• Analysts maintain a generally positive view, with IBM rated “Moderate Buy” and an average price target of $265.90 versus its reported share price of $234.87; the company also announced a quarterly dividend of $1.69 per share.

W1M Asset Management Ltd bought a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,157,301 shares of the technology company's stock, valued at approximately $325,531,000. International Business Machines accounts for about 3.0% of W1M Asset Management Ltd's portfolio, making the stock its 18th largest position. W1M Asset Management Ltd owned about 0.12% of International Business Machines as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of IBM. Basepoint Wealth LLC bought a new stake in International Business Machines during the 4th quarter worth approximately $25,000. Portus Wealth Advisors LLC acquired a new position in shares of International Business Machines in the first quarter valued at approximately $26,000. Harborfront Financial Group LLC bought a new stake in shares of International Business Machines during the second quarter worth $27,000. Cornerstone Financial Management LLC acquired a new stake in shares of International Business Machines during the fourth quarter worth $28,000. Finally, Hara Capital LLC bought a new stake in International Business Machines in the 2nd quarter valued at $28,000. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Trading Down 0.0%

Shares of International Business Machines stock opened at $234.87 on Monday. The stock has a market cap 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. 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 business's 50 day moving average is $241.67 and its 200-day moving average is $247.02.

International Business Machines (NYSE:IBM - Get Free Report) last issued its 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 business had revenue of $17.16 billion for the quarter, compared to the consensus estimate of $17.46 billion. During the same period in the previous year, the company earned $2.80 earnings per share. The firm's revenue for the quarter was up 1.1% on a year-over-year basis. Equities research analysts predict 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 disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders 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 dividend yield of 2.9%. International Business Machines's payout ratio is currently 59.98%.

Insider Activity

In related news, SVP Robert Thomas sold 25,000 shares of International Business Machines stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $230.32, for a total transaction of $5,758,000.00. Following the completion of the transaction, the senior vice president owned 47,800 shares in the company, valued at approximately $11,009,296. This trade represents a 34.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.27% of the company's stock.

Analyst Ratings Changes

IBM has been the subject of a number of research reports. Barclays lowered their target price on International Business Machines from $288.00 to $262.00 and set an "overweight" rating for the company in a report on Thursday, July 23rd. JPMorgan Chase & Co. decreased their price objective on International Business Machines from $291.00 to $250.00 and set an "overweight" rating for the company in a report on Friday, July 17th. Wall Street Zen raised International Business Machines from a "sell" rating to a "hold" rating in a research report on Saturday, August 29th. Citigroup cut their target price on 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. Finally, Argus reduced their price target on International Business Machines from $360.00 to $280.00 and set a "buy" rating for the company in a research report on Thursday, July 16th. 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. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price 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.

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