31,993 Shares in International Business Machines Corporation $IBM Bought by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. bought a new stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 31,993 shares of the technology company's stock, valued at approximately $8,997,000.

Other hedge funds have also recently modified their holdings of the company. Basepoint Wealth LLC purchased a new position in International Business Machines during the fourth quarter valued at $25,000. Cornerstone Financial Management LLC purchased a new position in International Business Machines in the 4th quarter worth approximately $28,000. Harborfront Financial Group LLC bought a new stake in International Business Machines in the 2nd quarter worth about $27,000. SWAN Capital LLC bought a new position in International Business Machines during the third quarter valued at approximately $28,000. Finally, Bare Financial Services Inc boosted its stake in shares of International Business Machines by 114.6% in the 2nd quarter. Bare Financial Services Inc now owns 103 shares of the technology company's stock worth $29,000 after buying an additional 55 shares during the last quarter. Institutional investors own 58.96% of the company's stock.

International Business Machines Stock Performance

Shares of IBM stock opened at $234.87 on Friday. 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. The stock 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 business has a 50-day simple moving average of $241.67 and a 200-day simple moving average of $247.13.

International Business Machines (NYSE:IBM - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The technology company reported $2.93 EPS for the quarter, hitting the consensus estimate of $2.93. The firm had revenue of $17.16 billion for the quarter, compared to analyst estimates of $17.46 billion. International Business Machines had a return on equity of 35.65% and a net margin of 15.52%.International Business Machines's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period last year, the company earned $2.80 earnings per share. On average, equities analysts expect that International Business Machines Corporation will post 12.33 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 10th will be paid a dividend of $1.69 per share. 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%.

Analysts Set New Price Targets

Several analysts recently issued reports on IBM shares. Oppenheimer lowered shares of International Business Machines from an "outperform" rating to a "market perform" rating in a research report on Wednesday, July 15th. Argus decreased their price target on shares of International Business Machines from $360.00 to $280.00 and set a "buy" rating on the stock in a research note on Thursday, July 16th. Susquehanna upped their price target on shares of International Business Machines from $225.00 to $235.00 and gave the company a "neutral" rating in a report on Monday. Wall Street Zen upgraded International Business Machines from a "sell" rating to a "hold" rating in a report on Saturday, August 29th. Finally, Wedbush set a $350.00 price target on International Business Machines in a research report on Tuesday, June 2nd. Sixteen equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $265.90.

Insider Activity at International Business Machines

In related news, SVP Robert Thomas sold 25,000 shares of International Business Machines stock in a transaction dated 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. The trade was a 34.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is owned by company insiders.

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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