Asahi Life Asset Management CO. LTD. Takes Position in International Business Machines Corporation $IBM

Asahi Life Asset Management CO. LTD. acquired a new position in International Business Machines Corporation (NYSE:IBM - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,546 shares of the technology company's stock, valued at approximately $2,122,000. International Business Machines makes up 1.2% of Asahi Life Asset Management CO. LTD.'s investment portfolio, making the stock its 22nd largest position.

Other institutional investors also recently bought and sold shares of the company. Somerville Kurt F purchased a new stake in International Business Machines in the second quarter worth about $838,000. MSH Capital Advisors LLC purchased a new position in International Business Machines during the second quarter valued at approximately $740,000. MidAtlantic Capital Management Inc. bought a new position in shares of International Business Machines in the second quarter worth approximately $215,000. Frazier Financial Advisors LLC bought a new position in shares of International Business Machines in the second quarter worth approximately $224,000. Finally, Northcape Wealth Management LLC purchased a new stake in shares of International Business Machines in the second quarter worth $5,194,000. 58.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on IBM. Wedbush set a $350.00 target price on shares of International Business Machines in a report on Tuesday, June 2nd. HSBC set a $175.00 price objective on International Business Machines and gave the stock a "reduce" rating in a research note on Thursday, July 16th. Roth Capital reiterated a "buy" rating on shares of International Business Machines in a research report on Wednesday, June 3rd. Wolfe Research downgraded International Business Machines to a "peer perform" rating in a research note on Tuesday, June 23rd. Finally, KeyCorp cut International Business Machines to a "sector weight" rating in a report on Tuesday, June 23rd. Sixteen analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, International Business Machines has an average rating of "Moderate Buy" and an average price target of $265.90.

International Business Machines Stock Up 0.1%

NYSE IBM opened at $234.87 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.63. International Business Machines Corporation has a 52 week low of $199.19 and a 52 week high of $332.46. The firm has a market capitalization of $221.28 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 2.24 and a beta of 0.71. The company has a fifty day moving average of $241.67 and a two-hundred day moving average of $247.13.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $2.93. The firm had revenue of $17.16 billion during the quarter, compared to analyst estimates 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 period last year, the company earned $2.80 EPS. On average, analysts predict that International Business Machines Corporation will post 12.33 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently disclosed 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. This represents a $6.76 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, August 10th. International Business Machines's payout ratio is presently 59.98%.

Insider Transactions at International Business Machines

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

About International Business Machines

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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