Asset One Wealth Management LLC Takes $748,000 Position in International Business Machines Corporation $IBM

Key Points

• Asset One Wealth Management purchased 3,539 IBM shares during the second quarter, establishing a position worth approximately $748,000. Institutional investors and hedge funds collectively own 58.96% of IBM’s stock.
• IBM’s latest quarterly results matched earnings expectations at $2.93 per share, while revenue of $17.16 billion fell short of the $17.46 billion consensus estimate; revenue nevertheless increased 1.1% year over year.
• IBM declared a quarterly dividend of $1.69 per share, equivalent to an annualized $6.76 payout and a 2.9% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $265.90.

Asset One Wealth Management LLC purchased a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,539 shares of the technology company's stock, valued at approximately $748,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Orca Wealth Management LLC increased its holdings in shares of International Business Machines by 3.7% in the fourth quarter. Orca Wealth Management LLC now owns 975 shares of the technology company's stock valued at $285,000 after purchasing an additional 35 shares during the last quarter. Friday Financial lifted its stake in shares of International Business Machines by 1.9% during the 2nd quarter. Friday Financial now owns 1,903 shares of the technology company's stock worth $583,000 after buying an additional 35 shares during the last quarter. First Command Advisory Services Inc. boosted its holdings in shares of International Business Machines by 1.1% during the 4th quarter. First Command Advisory Services Inc. now owns 3,459 shares of the technology company's stock worth $1,025,000 after buying an additional 36 shares during the period. HORAN Wealth LLC boosted its holdings in shares of International Business Machines by 1.3% during the 4th quarter. HORAN Wealth LLC now owns 2,851 shares of the technology company's stock worth $844,000 after buying an additional 37 shares during the period. Finally, Washington Trust Bank raised its holdings in International Business Machines by 2.2% in the 4th quarter. Washington Trust Bank now owns 1,712 shares of the technology company's stock valued at $507,000 after acquiring an additional 37 shares during the period. Institutional investors and hedge funds own 58.96% of the company's stock.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Robert Thomas sold 25,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the senior vice president directly owned 47,800 shares in the company, valued at $11,009,296. The trade was a 34.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.27% of the stock is owned by company insiders.

International Business Machines Stock Down 0.1%

Shares of NYSE IBM opened at $234.77 on Tuesday. 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 52 week low of $199.19 and a 52 week high of $332.46. The stock has a market capitalization of $221.18 billion, a P/E ratio of 20.83, a PEG ratio of 2.24 and a beta of 0.71. The stock's fifty day moving average is $240.81 and its 200 day moving average is $246.86.

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

International Business Machines Announces Dividend

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 paid a $1.69 dividend. 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 59.98%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Roth Capital restated a "buy" rating on shares of International Business Machines in a report on Wednesday, June 3rd. Sanford C. Bernstein reiterated a "market perform" rating on shares of International Business Machines in a research note on Thursday, July 16th. Craig Hallum began coverage on International Business Machines in a report on Wednesday, August 19th. They set a "buy" rating for the company. Argus reduced their price target on International Business Machines from $360.00 to $280.00 and set a "buy" rating for the company in a research note on Thursday, July 16th. Finally, Bank of America upped their price objective on International Business Machines from $315.00 to $330.00 and gave the company a "buy" rating in a report on Monday, July 6th. Sixteen research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price 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.

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