Altman Advisors Inc. Invests $2.58 Million in International Business Machines Corporation $IBM

Altman Advisors Inc. acquired a new stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,157 shares of the technology company's stock, valued at approximately $2,575,000.

A number of other hedge funds have also recently bought and sold shares of the company. Basepoint Wealth LLC acquired a new position in shares of International Business Machines during the 4th quarter valued at about $25,000. Portus Wealth Advisors LLC acquired a new position in International Business Machines during the first quarter worth approximately $26,000. Harborfront Financial Group LLC acquired a new position in International Business Machines during the second quarter worth approximately $27,000. SWAN Capital LLC purchased a new position in International Business Machines during the third quarter worth approximately $28,000. Finally, Cornerstone Financial Management LLC acquired a new position in shares of International Business Machines in the 4th quarter valued at $28,000. Institutional investors and hedge funds own 58.96% of the company's stock.

Insider Buying and Selling at International Business Machines

In related news, SVP Robert Thomas sold 25,000 shares of the business's stock in a transaction dated 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 completion of the sale, the senior vice president owned 47,800 shares of the company's stock, valued at $11,009,296. This represents a 34.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Sanford C. Bernstein reissued a "market perform" rating on shares of International Business Machines in a research note on Thursday, July 16th. Oppenheimer cut International Business Machines from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 15th. Barclays lowered their price target on International Business Machines from $288.00 to $262.00 and set an "overweight" rating for the company in a research report on Thursday, July 23rd. HSBC set a $175.00 price target on International Business Machines and gave the stock a "reduce" rating in a research note on Thursday, July 16th. Finally, 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. Sixteen investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $265.90.

International Business Machines Price Performance

Shares of NYSE IBM opened at $234.87 on Friday. International Business Machines Corporation has a twelve month low of $199.19 and a twelve month high of $332.46. 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 company has a market capitalization of $221.28 billion, a price-to-earnings 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 announced its quarterly earnings data on Wednesday, July 22nd. The technology company reported $2.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.93. International Business Machines had a return on equity of 35.65% and a net margin of 15.52%.The firm had revenue of $17.16 billion for the quarter, compared to analysts' expectations of $17.46 billion. During the same period last year, the business posted $2.80 earnings per share. The firm's revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities research analysts expect that International Business Machines Corporation will post 12.33 earnings per share for the current year.

International Business Machines Dividend Announcement

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