AlpenGlobal Capital LLC Invests $2.98 Million in International Business Machines Corporation $IBM

Key Points

• AlpenGlobal Capital initiated a $2.98 million position in IBM during the second quarter, purchasing 10,582 shares. Institutional investors collectively own 58.96% of the company.
• IBM reported quarterly earnings of $2.93 per share, in line with estimates, while revenue rose 1.1% year over year to $17.16 billion but fell short of expectations.
• IBM declared a quarterly dividend of $1.69, equal to an annualized payout of $6.76 and a 2.9% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $265.90.

AlpenGlobal Capital LLC bought a new position in International Business Machines Corporation (NYSE:IBM - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,582 shares of the technology company's stock, valued at approximately $2,976,000. International Business Machines makes up about 1.9% of AlpenGlobal Capital LLC's holdings, making the stock its 21st largest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IBM. BlackRock Inc. purchased a new stake in International Business Machines in the second quarter worth approximately $21,586,659,000. Bank of New York Mellon Corp bought a new stake in shares of International Business Machines during the 2nd quarter valued at about $2,606,782,000. Norges Bank bought a new stake in shares of International Business Machines during the 4th quarter valued at about $2,446,429,000. Capital World Investors increased its position in shares of International Business Machines by 29.2% during the 4th quarter. Capital World Investors now owns 22,021,912 shares of the technology company's stock valued at $6,523,720,000 after purchasing an additional 4,976,756 shares during the last quarter. Finally, Deutsche Bank AG bought a new position in shares of International Business Machines in the 2nd quarter worth approximately $960,839,000. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Performance

Shares of NYSE IBM opened at $234.87 on Friday. The firm has a fifty day moving average price of $241.67 and a 200-day moving average price of $247.13. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.79 and a quick ratio of 0.74. 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. International Business Machines Corporation has a 1 year low of $199.19 and a 1 year high of $332.46.

International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share for the quarter, meeting analysts' consensus estimates of $2.93. The company had revenue of $17.16 billion for the quarter, compared to analysts' expectations of $17.46 billion. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. International Business Machines's revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.80 EPS. Equities analysts anticipate that International Business Machines Corporation will post 12.33 earnings per share 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. Investors of record on Monday, August 10th will be issued a $1.69 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $6.76 dividend on an annualized basis and a yield of 2.9%. International Business Machines's payout ratio is currently 59.98%.

Insider Buying and Selling

In other International Business Machines news, SVP Robert Thomas sold 25,000 shares of the company's stock in a transaction that occurred on 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 directly owned 47,800 shares in the company, valued at $11,009,296. This represents a 34.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.27% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Argus dropped their price objective on shares of International Business Machines from $360.00 to $280.00 and set a "buy" rating on the stock in a report on Thursday, July 16th. Jefferies Financial Group decreased their price target on shares of International Business Machines from $320.00 to $260.00 and set a "buy" rating on the stock in a research report on Tuesday, July 21st. The Goldman Sachs Group set a $270.00 price target on shares of International Business Machines in a research note on Thursday, July 23rd. Wolfe Research downgraded shares of International Business Machines to a "peer perform" rating in a research report on Tuesday, June 23rd. Finally, Roth Capital restated a "buy" rating on shares of International Business Machines in a research note on Wednesday, June 3rd. Sixteen equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $265.90.

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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