230,347 Shares in International Business Machines Corporation $IBM Bought by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management bought 230,347 IBM shares worth approximately $64.8 million in the second quarter. Institutional investors and hedge funds collectively own 58.96% of IBM.
• IBM reported quarterly EPS of $2.93, in line with analyst expectations, while revenue rose 1.1% year over year to $17.16 billion but fell short of the $17.46 billion consensus estimate.
• IBM declared a quarterly dividend of $1.69 per share, equivalent to an annualized $6.76 payout and a 2.9% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $265.90.

Northwestern Mutual Wealth Management Co. purchased a new position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 230,347 shares of the technology company's stock, valued at approximately $64,776,000.

Several other institutional investors also recently bought and sold shares of IBM. Basepoint Wealth LLC acquired a new position in shares of International Business Machines during the fourth quarter worth about $25,000. Portus Wealth Advisors LLC acquired a new position in International Business Machines during the first quarter worth about $26,000. Harborfront Financial Group LLC acquired a new position in International Business Machines during the second quarter worth about $27,000. Cornerstone Financial Management LLC purchased a new position in International Business Machines in the fourth quarter valued at about $28,000. Finally, Hara Capital LLC purchased a new stake in shares of International Business Machines during the 2nd quarter worth approximately $28,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Down 0.0%

IBM opened at $234.87 on Monday. The firm has a market cap of $221.28 billion, a P/E ratio of 20.84, a PEG ratio of 2.24 and a beta of 0.71. The business's fifty day simple moving average is $241.67 and its 200 day simple moving average is $247.02. International Business Machines Corporation has a 52 week low of $199.19 and a 52 week 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.

International Business Machines (NYSE:IBM - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share for the quarter, meeting the consensus estimate 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 the consensus estimate of $17.46 billion. During the same quarter in the previous year, the company posted $2.80 EPS. The firm's revenue for the quarter 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 10th will be paid 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 of this dividend is Monday, August 10th. International Business Machines's dividend payout ratio is currently 59.98%.

Insider Activity at International Business Machines

In related news, SVP Robert Thomas sold 25,000 shares of the 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 transaction, the senior vice president directly owned 47,800 shares in the company, valued at approximately $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 can be accessed through this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on IBM. Wall Street Zen upgraded International Business Machines from a "sell" rating to a "hold" rating in a research report on Saturday, August 29th. Weiss Ratings lowered shares of International Business Machines from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, June 24th. Robert W. Baird started coverage on shares of International Business Machines in a research note on Tuesday, July 21st. They issued a "neutral" rating and a $230.00 price objective on the stock. Susquehanna lifted their target price on shares of International Business Machines from $225.00 to $235.00 and gave the stock a "neutral" rating in a research report on Monday, August 31st. Finally, HSBC set a $175.00 price target on shares of International Business Machines and gave the company a "reduce" rating in a report on Thursday, July 16th. Sixteen research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average 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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