14,088 Shares in International Business Machines Corporation $IBM Purchased by First Nebraska Trust Co

Key Points

• First Nebraska Trust Co. acquired 14,088 IBM shares worth approximately $3.96 million during the second quarter. Institutional investors collectively own 58.96% of IBM’s outstanding stock.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $265.90, despite several firms recently lowering their targets.
• IBM reported quarterly EPS of $2.93, matching estimates, while revenue rose 1.1% year over year to $17.16 billion. The company also declared a quarterly dividend of $1.69 per share, representing a 2.9% yield.

First Nebraska Trust Co acquired a new position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,088 shares of the technology company's stock, valued at approximately $3,962,000.

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on IBM shares. Needham & Company LLC initiated coverage on shares of International Business Machines in a research note on Wednesday, June 3rd. They issued a "buy" rating for the company. Citigroup decreased their price target 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. HSBC set a $175.00 price objective on shares of International Business Machines and gave the stock a "reduce" rating in a research report on Thursday, July 16th. Craig Hallum assumed coverage on International Business Machines in a research note on Wednesday, August 19th. They issued a "buy" rating for the company. Finally, Jefferies Financial Group dropped their target price on International Business Machines from $320.00 to $260.00 and set a "buy" rating for the company in a research report on Tuesday, July 21st. 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.

Insiders Place Their Bets

In other news, SVP Robert Thomas sold 25,000 shares of the company's stock in a transaction that occurred 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.27% of the company's stock.

International Business Machines Price Performance

IBM opened at $234.77 on Tuesday. The stock has a market cap of $221.18 billion, a P/E ratio of 20.83, a P/E/G ratio of 2.24 and a beta of 0.71. International Business Machines Corporation has a 12 month low of $199.19 and a 12 month high of $332.46. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.63. The company 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 - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share (EPS) for the quarter, meeting 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 firm had revenue of $17.16 billion during the quarter, compared to analysts' expectations of $17.46 billion. During the same period in the previous year, the firm earned $2.80 earnings per share. The company's revenue was up 1.1% on a year-over-year basis. On average, research analysts expect that International Business Machines Corporation will post 12.33 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 10th will be issued a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, August 10th. International Business Machines's dividend payout ratio (DPR) is 59.98%.

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.

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