2,713 Shares in International Business Machines Corporation $IBM Acquired by United Bank

Key Points

• United Bank acquired 2,713 IBM shares worth approximately $763,000 during the second quarter. Institutional investors and hedge funds collectively own 58.96% of IBM.
• Analysts maintain a generally positive outlook, with 16 Buy, 11 Hold, and one Sell rating. IBM has a consensus price target of $265.90, implying potential upside from its reported $234.87 share price.
• IBM reported quarterly EPS of $2.93, in line with estimates, while revenue of $17.16 billion fell short of expectations but increased 1.1% year over year. The company also declared a quarterly dividend of $1.69 per share, representing a 2.9% annualized yield.

United Bank bought a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,713 shares of the technology company's stock, valued at approximately $763,000.

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

Analyst Upgrades and Downgrades

IBM has been the subject of a number of recent analyst reports. Citigroup decreased their price target on International Business Machines from $255.00 to $245.00 and set a "buy" rating for the company in a report on Friday, July 24th. The Goldman Sachs Group set a $270.00 price objective on International Business Machines in a report on Thursday, July 23rd. Royal Bank Of Canada reissued an "outperform" rating and set a $270.00 target price on shares of International Business Machines in a research report on Tuesday, July 21st. Jefferies Financial Group decreased their target price on International Business Machines from $320.00 to $260.00 and set a "buy" rating for the company in a research note on Tuesday, July 21st. Finally, Needham & Company LLC started coverage on International Business Machines in a report on Wednesday, June 3rd. They issued a "buy" rating for the company. Sixteen investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $265.90.

International Business Machines Stock Performance

NYSE IBM opened at $234.87 on Friday. The company has a fifty day moving average of $241.67 and a two-hundred day moving average of $247.13. The company has a market capitalization of $221.28 billion, a PE 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. 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 posted 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. The business had revenue of $17.16 billion during the quarter, compared to the consensus estimate of $17.46 billion. International Business Machines had a return on equity of 35.65% and a net margin of 15.52%.The business's quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.80 EPS. As a group, analysts expect that International Business Machines Corporation will post 12.33 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 10th will be issued a $1.69 dividend. This represents a $6.76 annualized dividend 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 presently 59.98%.

Insider Buying and Selling at International Business Machines

In other news, SVP Robert Thomas sold 25,000 shares of the firm'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 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 trade represents a 34.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.27% of the company's stock.

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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