4,397 Shares in International Business Machines Corporation $IBM Acquired by OneAscent Financial Services LLC

Key Points

• OneAscent Financial Services LLC acquired 4,397 IBM shares valued at approximately $1.24 million. Institutional investors and hedge funds collectively own 58.96% of the company.
• Analyst sentiment remains positive, with 16 Buy, 11 Hold, and one Sell rating; IBM has a consensus “Moderate Buy” rating and an average price target of $265.90.
• IBM reported quarterly EPS of $2.93, in line with estimates, while revenue rose 1.1% year over year to $17.16 billion. The company also declared a quarterly dividend of $1.69 per share, representing a 2.9% annualized yield.

OneAscent Financial Services LLC acquired a new position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 4,397 shares of the technology company's stock, valued at approximately $1,237,000.

Several other large investors also recently added to or reduced their stakes in the company. Basepoint Wealth LLC acquired a new stake in shares of International Business Machines in the fourth quarter worth $25,000. Cornerstone Financial Management LLC acquired a new position in International Business Machines during the fourth quarter valued at $28,000. Harborfront Financial Group LLC purchased a new stake in International Business Machines in the 2nd quarter worth about $27,000. Hara Capital LLC acquired a new stake in International Business Machines during the 2nd quarter worth about $28,000. Finally, SWAN Capital LLC acquired a new stake in International Business Machines during the 3rd quarter worth about $28,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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 completion of the sale, the senior vice president owned 47,800 shares of the company's stock, valued at approximately $11,009,296. The trade was a 34.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on IBM shares. Robert W. Baird assumed coverage on International Business Machines in a report on Tuesday, July 21st. They issued a "neutral" rating and a $230.00 target price on the stock. Royal Bank Of Canada restated an "outperform" rating and set a $270.00 price target on shares of International Business Machines in a report on Tuesday, July 21st. Craig Hallum began coverage on shares of International Business Machines in a research report on Wednesday, August 19th. They set a "buy" rating on the stock. Morgan Stanley dropped their price objective on shares of International Business Machines from $293.00 to $190.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 23rd. Finally, Stifel Nicolaus cut their target price on shares of International Business Machines from $290.00 to $235.00 and set a "buy" rating for the company in a research report on Monday, July 20th. Sixteen 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $265.90.

International Business Machines Stock Up 0.1%

IBM opened at $234.87 on Friday. The company has a market capitalization 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 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 Corporation has a fifty-two week low of $199.19 and a fifty-two week high of $332.46. The business has a 50-day moving average of $241.67 and a 200-day moving average of $247.13.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The technology company reported $2.93 earnings per share for the quarter, meeting 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 net margin of 15.52% and a return on equity of 35.65%. The company's revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.80 earnings per share. Equities research analysts forecast that International Business Machines Corporation will post 12.33 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 10th will be issued a dividend of $1.69 per share. The ex-dividend date is Monday, August 10th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 2.9%. International Business Machines's dividend payout ratio (DPR) is currently 59.98%.

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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