Bantamac Capital LLC Invests $787,000 in International Business Machines Corporation $IBM

Key Points

• Bantamac Capital LLC acquired 2,800 IBM shares worth approximately $787,000 during the second quarter, representing about 0.4% of its portfolio. Institutional investors and hedge funds collectively own 58.96% of IBM.
• Analysts maintain a generally positive outlook, with 16 Buy, 11 Hold, and one Sell rating. IBM has a consensus “Moderate Buy” rating and an average price target of $265.90.
• IBM reported quarterly EPS of $2.93 on $17.16 billion in revenue, while declaring a $1.69 quarterly dividend, equivalent to a $6.76 annual payout and a 2.9% yield.

Bantamac Capital LLC acquired a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,800 shares of the technology company's stock, valued at approximately $787,000. International Business Machines accounts for approximately 0.4% of Bantamac Capital LLC's investment portfolio, making the stock its 25th largest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Basepoint Wealth LLC purchased a new stake in shares of International Business Machines in the 4th quarter valued at approximately $25,000. Cornerstone Financial Management LLC acquired a new stake in shares of International Business Machines during the fourth quarter valued at $28,000. Harborfront Financial Group LLC purchased a new position in shares of International Business Machines during the 2nd quarter worth about $27,000. SWAN Capital LLC purchased a new position in shares of International Business Machines in the third quarter valued at $28,000. Finally, Bare Financial Services Inc lifted its position in shares of International Business Machines by 114.6% in the 2nd quarter. Bare Financial Services Inc now owns 103 shares of the technology company's stock worth $29,000 after buying an additional 55 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity at International Business Machines

In related news, SVP Robert Thomas sold 25,000 shares of the company's stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $230.32, for a total value of $5,758,000.00. Following the sale, the senior vice president owned 47,800 shares in the company, valued at $11,009,296. This represents a 34.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

IBM has been the topic of several analyst reports. The Goldman Sachs Group set a $270.00 price target on shares of International Business Machines in a report on Thursday, July 23rd. Barclays decreased their price objective on shares of International Business Machines from $288.00 to $262.00 and set an "overweight" rating for the company in a report on Thursday, July 23rd. Stifel Nicolaus cut their target price on International Business Machines from $290.00 to $235.00 and set a "buy" rating on the stock in a research note on Monday, July 20th. JPMorgan Chase & Co. cut 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. Finally, Roth Capital restated a "buy" rating on shares of International Business Machines in a research report on Wednesday, June 3rd. Sixteen equities research 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, International Business Machines currently has a consensus rating of "Moderate Buy" and an average target price of $265.90.

International Business Machines Price Performance

Shares of International Business Machines stock 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. International Business Machines Corporation has a one year low of $199.19 and a one year high of $332.46. The stock has a market capitalization of $221.28 billion, a P/E ratio of 20.84, a price-to-earnings-growth ratio of 2.24 and a beta of 0.71. The business's 50 day simple moving average is $241.67 and its two-hundred day simple moving average is $247.13.

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 (EPS) for the quarter, hitting analysts' consensus estimates of $2.93. The business had revenue of $17.16 billion for 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 revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.80 EPS. Analysts forecast that International Business Machines Corporation will post 12.33 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, August 10th. International Business Machines's dividend payout ratio (DPR) is presently 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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