188,776 Shares in International Business Machines Corporation $IBM Acquired by Tocqueville Asset Management L.P.

Key Points

• Tocqueville Asset Management acquired 188,776 IBM shares worth approximately $53.1 million during the second quarter. Institutional investors collectively own 58.96% of IBM’s outstanding stock.
• IBM reported quarterly EPS of $2.93, matching analyst estimates, while revenue of $17.16 billion fell short of the $17.46 billion consensus but increased 1.1% year over year.
• IBM declared a quarterly dividend of $1.69 per share, equivalent to a 2.9% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $265.90.

Tocqueville Asset Management L.P. purchased a new stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 188,776 shares of the technology company's stock, valued at approximately $53,086,000.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of International Business Machines in the 2nd quarter valued at $21,586,659,000. Bank of New York Mellon Corp purchased a new position in International Business Machines in the 2nd quarter worth $2,606,782,000. Norges Bank purchased a new position in International Business Machines in the 4th quarter worth $2,446,429,000. Capital World Investors lifted its stake in International Business Machines by 29.2% in the fourth quarter. Capital World Investors now owns 22,021,912 shares of the technology company's stock worth $6,523,720,000 after purchasing an additional 4,976,756 shares during the last quarter. Finally, Deutsche Bank AG bought a new stake in International Business Machines in the second quarter worth $960,839,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related 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 sale, the senior vice president owned 47,800 shares in the company, valued at $11,009,296. The trade was a 34.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.27% of the stock is owned by insiders.

International Business Machines Stock Performance

International Business Machines stock 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 firm has a 50-day moving average of $241.67 and a 200-day moving average of $247.13. The firm 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. 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 - Get Free Report) last announced its quarterly 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 company had revenue of $17.16 billion for the quarter, compared to the consensus estimate of $17.46 billion. During the same quarter in the previous year, the business earned $2.80 EPS. International Business Machines's revenue was up 1.1% compared to the same quarter last year. Sell-side analysts expect that International Business Machines Corporation will post 12.33 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 10th will be issued 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 dividend payout ratio is currently 59.98%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on IBM shares. Roth Capital reaffirmed a "buy" rating on shares of International Business Machines in a research note on Wednesday, June 3rd. Stifel Nicolaus lowered their target price on International Business Machines from $290.00 to $235.00 and set a "buy" rating for the company in a research note on Monday, July 20th. Piper Sandler upgraded International Business Machines to an "overweight" rating in a report on Tuesday, June 23rd. Susquehanna raised their price target on International Business Machines from $225.00 to $235.00 and gave the stock a "neutral" rating in a research report on Monday. Finally, Robert W. Baird assumed coverage on International Business Machines in a research note on Tuesday, July 21st. They issued a "neutral" rating and a $230.00 price target on the stock. Sixteen 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's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $265.90.

International Business Machines 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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