149,351 Shares in International Business Machines Corporation $IBM Acquired by Commerce Bank

Key Points

• Commerce Bank acquired 149,351 IBM shares during the second quarter, valued at approximately $42 million. Institutional investors collectively own 58.96% of IBM’s outstanding stock.
• IBM’s latest quarterly results matched expectations at $2.93 EPS, while revenue rose 1.1% year over year to $17.16 billion but fell short of estimates.
• IBM declared a quarterly dividend of $1.69 per share, representing a $6.76 annualized payout and a 2.9% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $265.90.

Commerce Bank purchased a new position in International Business Machines Corporation (NYSE:IBM - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 149,351 shares of the technology company's stock, valued at approximately $41,999,000.

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

International Business Machines Stock Performance

NYSE IBM opened at $234.87 on Monday. The company 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. The stock's 50 day simple moving average is $241.67 and its 200-day simple moving average is $247.02. International Business Machines Corporation has a 1-year low of $199.19 and a 1-year high of $332.46. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.79 and a quick ratio of 0.74.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data 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 net margin of 15.52% and a return on equity of 35.65%. The firm had revenue of $17.16 billion during the quarter, compared to analyst estimates of $17.46 billion. During the same quarter in the prior year, the firm posted $2.80 earnings per share. International Business Machines's quarterly revenue was up 1.1% on a year-over-year basis. As a group, equities research analysts anticipate that International Business Machines Corporation will post 12.33 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared 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. The ex-dividend date is Monday, August 10th. This represents a $6.76 annualized dividend and a yield of 2.9%. International Business Machines's dividend payout ratio is 59.98%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. KeyCorp cut International Business Machines to a "sector weight" rating in a report on Tuesday, June 23rd. Craig Hallum assumed coverage on shares of International Business Machines in a report on Wednesday, August 19th. They issued a "buy" rating for the company. The Goldman Sachs Group set a $270.00 price target on International Business Machines in a research report on Thursday, July 23rd. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of International Business Machines in a research note on Thursday, July 16th. Finally, Robert W. Baird started coverage on shares of International Business Machines in a research report on Tuesday, July 21st. They issued a "neutral" rating and a $230.00 price objective for the company. Sixteen equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, International Business Machines presently has a consensus rating of "Moderate Buy" and a consensus target price of $265.90.

Insider Buying and Selling at International Business Machines

In related news, SVP Robert Thomas sold 25,000 shares of the stock in a transaction 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 transaction, the senior vice president owned 47,800 shares of the company's stock, 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 SEC, which is available through this hyperlink. Insiders own 0.27% of the company's stock.

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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