AssuredPartners Investment Advisors LLC Invests $1.66 Million in International Business Machines Corporation $IBM

AssuredPartners Investment Advisors LLC bought a new stake in shares of 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. The firm bought 5,904 shares of the technology company's stock, valued at approximately $1,660,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Brighton Jones LLC increased its position in shares of International Business Machines by 12.4% in the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock valued at $4,619,000 after buying an additional 2,323 shares in the last quarter. Sivia Capital Partners LLC lifted its position in shares of International Business Machines by 10.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,938 shares of the technology company's stock valued at $571,000 after buying an additional 186 shares in the last quarter. Jump Financial LLC purchased a new position in shares of International Business Machines during the 2nd quarter valued at approximately $211,000. Ieq Capital LLC grew its stake in International Business Machines by 2.2% in the 2nd quarter. Ieq Capital LLC now owns 38,617 shares of the technology company's stock valued at $11,383,000 after acquiring an additional 843 shares during the period. Finally, Vivaldi Capital Management LP increased its holdings in International Business Machines by 11.6% in the 2nd quarter. Vivaldi Capital Management LP now owns 1,017 shares of the technology company's stock worth $300,000 after acquiring an additional 106 shares in the last quarter. Hedge funds and other institutional investors 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 company's stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $230.32, for a total transaction of $5,758,000.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is currently owned by insiders.

International Business Machines Trading Up 0.1%

NYSE IBM opened at $234.87 on Friday. 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 capitalization of $221.28 billion, a P/E ratio of 20.84, a PEG ratio of 2.24 and a beta of 0.71. The firm's 50-day moving average is $241.67 and its two-hundred day moving average is $247.13. International Business Machines Corporation has a 12 month low of $199.19 and a 12 month high of $332.46.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly 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. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. The business had revenue of $17.16 billion during the quarter, compared to analysts' expectations of $17.46 billion. During the same period last year, the business earned $2.80 earnings per share. The business's revenue for the quarter was up 1.1% on a year-over-year basis. On average, sell-side analysts anticipate 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 announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 10th will be given 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 presently 59.98%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on IBM shares. Wedbush set a $350.00 price objective on shares of International Business Machines in a research report on Tuesday, June 2nd. Piper Sandler raised shares of International Business Machines to an "overweight" rating in a research note on Tuesday, June 23rd. Royal Bank Of Canada restated an "outperform" rating and set a $270.00 price target on shares of International Business Machines in a research report on Tuesday, July 21st. Wall Street Zen raised shares of International Business Machines from a "sell" rating to a "hold" rating in a research note on Saturday, August 29th. Finally, Stifel Nicolaus lowered their price objective on International Business Machines from $290.00 to $235.00 and set a "buy" rating on the stock in a report on Monday, July 20th. Sixteen investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, International Business Machines has an average rating of "Moderate Buy" and a consensus price target 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.

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