B. Metzler seel. Sohn & Co. AG Takes Position in International Business Machines Corporation $IBM

Key Points

• B. Metzler seel. Sohn & Co. AG initiated a position in IBM by purchasing 76,960 shares worth approximately $21.6 million. Institutional investors collectively own 58.96% of the company.
• IBM reported quarterly earnings of $2.93 per share, matching analyst expectations, while revenue of $17.16 billion fell short of estimates but increased 1.1% year over year.
• IBM declared a quarterly dividend of $1.69 per share, equivalent to an annualized $6.76 dividend and a 2.9% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $265.90.

B. Metzler seel. Sohn & Co. AG purchased a new position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 76,960 shares of the technology company's stock, valued at approximately $21,642,000.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of International Business Machines in the 2nd quarter worth approximately $21,586,659,000. Bank of New York Mellon Corp bought a new stake in International Business Machines during the second quarter worth $2,606,782,000. Norges Bank purchased a new position in International Business Machines in the fourth quarter worth $2,446,429,000. Capital World Investors grew its stake in International Business Machines by 29.2% in 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 during the period. Finally, Deutsche Bank AG bought a new position in International Business Machines in the 2nd quarter valued at $960,839,000. 58.96% of the stock is owned by institutional investors.

International Business Machines Trading Up 0.1%

Shares of International Business Machines stock opened at $234.87 on Friday. International Business Machines Corporation has a 52-week low of $199.19 and a 52-week high of $332.46. The stock's 50-day simple moving average is $241.67 and its 200 day simple moving average is $247.13. The stock has a market capitalization of $221.28 billion, a P/E ratio of 20.84, a P/E/G ratio of 2.24 and a beta of 0.71. 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 (NYSE:IBM - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share 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 net margin of 15.52% and a return on equity of 35.65%. The company's quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the business earned $2.80 earnings per share. As a group, research analysts anticipate that International Business Machines Corporation will post 12.33 EPS for the current year.

International Business Machines Announces Dividend

The firm 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. The ex-dividend date of this dividend is Monday, August 10th. This represents a $6.76 annualized dividend and a yield of 2.9%. International Business Machines's dividend payout ratio (DPR) is 59.98%.

Insiders Place Their Bets

In other International Business Machines news, SVP Robert Thomas sold 25,000 shares of the business's stock in a transaction 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 sale, the senior vice president owned 47,800 shares of the company's stock, valued at $11,009,296. The trade was a 34.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

IBM has been the topic of a number of recent analyst reports. The Goldman Sachs Group set a $270.00 target price on International Business Machines in a research note on Thursday, July 23rd. Wall Street Zen upgraded shares of International Business Machines from a "sell" rating to a "hold" rating in a report on Saturday, August 29th. Morgan Stanley lowered their price objective on shares of International Business Machines from $293.00 to $190.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 23rd. Jefferies Financial Group dropped their target price on shares of International Business Machines from $320.00 to $260.00 and set a "buy" rating on the stock in a research note on Tuesday, July 21st. Finally, JPMorgan Chase & Co. decreased their price target on shares of International Business Machines from $291.00 to $250.00 and set an "overweight" rating for the company in a research note on Friday, July 17th. 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. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.

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