Alta Advisers Ltd Makes New $1.01 Million Investment in International Business Machines Corporation $IBM

Alta Advisers Ltd acquired a new stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,595 shares of the technology company's stock, valued at approximately $1,011,000.

Several other hedge funds and other institutional investors have also made changes to their positions in IBM. BlackRock Inc. bought a new stake in shares of International Business Machines during the second quarter worth $21,586,659,000. State Street Corp grew its stake in International Business Machines by 1.0% in the fourth quarter. State Street Corp now owns 54,996,293 shares of the technology company's stock worth $16,290,452,000 after purchasing an additional 518,321 shares in the last quarter. Geode Capital Management LLC increased its holdings in International Business Machines by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 22,605,083 shares of the technology company's stock worth $6,679,105,000 after purchasing an additional 336,069 shares during the period. Capital World Investors raised its position in 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 in the last quarter. Finally, Bank of America Corp DE grew its position in shares of International Business Machines by 7.0% during the 1st quarter. Bank of America Corp DE now owns 16,063,653 shares of the technology company's stock worth $3,893,669,000 after buying an additional 1,049,602 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

Insider Activity at International Business Machines

In related news, SVP Robert Thomas sold 25,000 shares of the stock in a transaction that occurred 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 transaction, the senior vice president directly owned 47,800 shares of the company's stock, valued at $11,009,296. This trade represents a 34.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.27% of the stock is owned by insiders.

International Business Machines Stock Performance

Shares of IBM opened at $234.87 on Monday. International Business Machines Corporation has a 12 month low of $199.19 and a 12 month high of $332.46. The stock has a fifty day moving average price of $241.67 and a 200-day moving average price of $247.02. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.63. The firm has a market cap 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 (NYSE:IBM - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share for the quarter, hitting the consensus estimate of $2.93. The firm had revenue of $17.16 billion for 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 firm's revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.80 EPS. Equities research analysts predict that International Business Machines Corporation will post 12.33 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business 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 dividend of $1.69 per share. The ex-dividend date is Monday, August 10th. This represents a $6.76 annualized dividend and a dividend yield of 2.9%. International Business Machines's dividend payout ratio is 59.98%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Royal Bank Of Canada restated an "outperform" rating and issued a $270.00 price objective on shares of International Business Machines in a report on Tuesday, July 21st. HSBC set a $175.00 target price on shares of International Business Machines and gave the stock a "reduce" rating in a report on Thursday, July 16th. Stifel Nicolaus reduced their price target on shares of International Business Machines from $290.00 to $235.00 and set a "buy" rating for the company in a report on Monday, July 20th. Morgan Stanley lowered their price target on shares of International Business Machines from $293.00 to $190.00 and set an "equal weight" rating for the company in a research report on Thursday, July 23rd. Finally, BMO Capital Markets dropped their price objective on shares of International Business Machines from $270.00 to $230.00 and set a "market perform" rating on the stock in a research note on Thursday, July 23rd. 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $265.90.

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.

Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Corporation (NYSE:IBM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source