20,665 Shares in International Business Machines Corporation $IBM Bought by Callan Family Office LLC

Key Points

• Callan Family Office LLC acquired 20,665 IBM shares worth approximately $5.81 million in the second quarter. Institutional investors and hedge funds collectively own 58.96% of IBM’s outstanding stock.
• IBM reported quarterly revenue of $17.16 billion, up 1.1% year over year, and earnings of $2.93 per share, matching analyst expectations. The company declared a quarterly dividend of $1.69 per share, equivalent to a 2.9% annual yield.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $265.90, although several brokerages recently lowered their targets. Separately, IBM senior vice president Robert Thomas sold 25,000 shares for about $5.76 million.

Callan Family Office LLC acquired a new position in International Business Machines Corporation (NYSE:IBM - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 20,665 shares of the technology company's stock, valued at approximately $5,811,000.

A number of other institutional investors and hedge funds also recently modified their holdings of IBM. Basepoint Wealth LLC bought a new stake in shares of International Business Machines during the 4th quarter valued at about $25,000. Cornerstone Financial Management LLC bought a new position in International Business Machines in the fourth quarter worth about $28,000. Harborfront Financial Group LLC acquired a new position in International Business Machines in the second quarter valued at approximately $27,000. Hara Capital LLC bought a new position in shares of International Business Machines during the second quarter valued at approximately $28,000. Finally, SWAN Capital LLC bought a new position in shares of International Business Machines during the third quarter valued at approximately $28,000. 58.96% of the stock is owned by institutional investors and hedge funds.

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 completion of the transaction, the senior vice president owned 47,800 shares in the company, valued at $11,009,296. This trade represents a 34.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.27% of the stock is currently owned by corporate insiders.

International Business Machines Stock Performance

NYSE:IBM opened at $234.87 on Monday. International Business Machines Corporation has a twelve month low of $199.19 and a twelve month high of $332.46. 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 company has a 50-day moving average of $241.67 and a 200-day moving average of $247.02. The firm has a market cap of $221.28 billion, a price-to-earnings ratio of 20.84, a price-to-earnings-growth ratio of 2.24 and a beta of 0.71.

International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results on Wednesday, July 22nd. The technology company reported $2.93 EPS 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 firm earned $2.80 EPS. The business's revenue for the quarter was up 1.1% on a year-over-year basis. Analysts forecast that International Business Machines Corporation will post 12.33 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 10th will be given 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 59.98%.

Analysts Set New Price Targets

Several brokerages recently issued reports on IBM. The Goldman Sachs Group set a $270.00 price target on International Business Machines in a report on Thursday, July 23rd. BMO Capital Markets dropped their target price on International Business Machines from $270.00 to $230.00 and set a "market perform" rating on the stock in a research report on Thursday, July 23rd. JPMorgan Chase & Co. cut their target price on International Business Machines from $291.00 to $250.00 and set an "overweight" rating on the stock in a research note on Friday, July 17th. Robert W. Baird began coverage on shares of International Business Machines in a report on Tuesday, July 21st. They set a "neutral" rating and a $230.00 price target for the company. Finally, Jefferies Financial Group lowered their price target on shares of 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 given a Sell rating to the company. Based on data from MarketBeat, International Business Machines has an average rating of "Moderate Buy" and a consensus target price 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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