Allworth Financial LP Invests $39.41 Million in International Business Machines Corporation $IBM

Key Points

• Allworth Financial initiated a $39.41 million position in IBM during the second quarter by purchasing 140,146 shares. Institutional investors collectively own 58.96% of the company.
• Analysts maintain a generally positive outlook, 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, matching estimates, while revenue rose 1.1% year over year to $17.16 billion. The company declared a quarterly dividend of $1.69 per share, equivalent to a 2.9% annualized yield.

Allworth Financial LP bought a new position in 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 firm bought 140,146 shares of the technology company's stock, valued at approximately $39,410,000.

Other institutional investors have also recently bought and sold shares of the company. Greenspring Advisors LLC purchased a new stake in shares of International Business Machines during the 2nd quarter valued at $1,173,000. B. Metzler seel. Sohn & Co. AG acquired a new position in International Business Machines in the second quarter valued at $21,642,000. TrinityBridge Ltd acquired a new position in International Business Machines in the second quarter valued at $296,000. NFJ Investment Group LLC purchased a new stake in International Business Machines during the second quarter valued at about $18,930,000. Finally, AlpenGlobal Capital LLC purchased a new stake in International Business Machines during the second quarter valued at about $2,976,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at International Business Machines

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 transaction of $5,758,000.00. Following the sale, the senior vice president owned 47,800 shares of the company's stock, valued at $11,009,296. The trade was a 34.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.27% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Barclays cut their price objective on International Business Machines from $288.00 to $262.00 and set an "overweight" rating on the stock in a report on Thursday, July 23rd. Jefferies Financial Group dropped their target price 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. Roth Capital reissued a "buy" rating on shares of International Business Machines in a research report on Wednesday, June 3rd. Craig Hallum assumed coverage on shares of International Business Machines in a report on Wednesday, August 19th. They issued a "buy" rating on the stock. Finally, Bank of America lifted their price target on shares of International Business Machines from $315.00 to $330.00 and gave the company a "buy" rating in a research report on Monday, July 6th. Sixteen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $265.90.

International Business Machines Stock Performance

Shares of NYSE:IBM opened at $234.87 on Friday. The company 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 company has a debt-to-equity ratio of 1.63, a quick ratio of 0.74 and a current ratio of 0.79. International Business Machines Corporation has a one year low of $199.19 and a one year high of $332.46. The business's 50-day simple moving average is $241.67 and its 200 day simple moving average is $247.13.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share for the quarter, hitting analysts' consensus estimates of $2.93. The firm had revenue of $17.16 billion during the quarter, compared to analysts' expectations 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 quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.80 EPS. On average, sell-side analysts forecast that International Business Machines Corporation will post 12.33 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

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