Biondo Investment Advisors LLC Makes New $16.16 Million Investment in International Business Machines Corporation $IBM

Biondo Investment Advisors LLC purchased a new position in International Business Machines Corporation (NYSE:IBM - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 57,466 shares of the technology company's stock, valued at approximately $16,160,000. International Business Machines comprises 2.0% of Biondo Investment Advisors LLC's portfolio, making the stock its 16th biggest holding.

A number of other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in International Business Machines in the 2nd quarter worth about $21,586,659,000. State Street Corp lifted its holdings in shares of International Business Machines by 1.0% during the 4th quarter. State Street Corp now owns 54,996,293 shares of the technology company's stock valued at $16,290,452,000 after buying an additional 518,321 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of International Business Machines by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 22,605,083 shares of the technology company's stock valued at $6,679,105,000 after buying an additional 336,069 shares in the last quarter. Capital World Investors increased its holdings in International Business Machines by 29.2% in the fourth quarter. Capital World Investors now owns 22,021,912 shares of the technology company's stock worth $6,523,720,000 after buying an additional 4,976,756 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in International Business Machines by 7.0% in the first quarter. Bank of America Corp DE now owns 16,063,653 shares of the technology company's stock worth $3,893,669,000 after buying an additional 1,049,602 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on IBM. Weiss Ratings cut shares of International Business Machines from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, June 24th. Barclays dropped their price target on shares of International Business Machines from $288.00 to $262.00 and set an "overweight" rating on the stock in a research note on Thursday, July 23rd. BMO Capital Markets reduced their price objective on shares of International Business Machines from $270.00 to $230.00 and set a "market perform" rating for the company in a research note on Thursday, July 23rd. Wedbush set a $350.00 price objective on shares of International Business Machines in a report on Tuesday, June 2nd. Finally, Argus lowered their target price on shares of International Business Machines from $360.00 to $280.00 and set a "buy" rating on the stock in a research report on Thursday, July 16th. Sixteen analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $265.90.

Insider Activity at International Business Machines

In related news, SVP Robert Thomas sold 25,000 shares of the firm'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 transaction of $5,758,000.00. Following the completion of the transaction, the senior vice president owned 47,800 shares in the company, valued at $11,009,296. This trade represents a 34.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is owned by company insiders.

International Business Machines Price Performance

NYSE:IBM opened at $234.77 on Tuesday. The stock has a market cap of $221.18 billion, a P/E ratio of 20.83, a PEG ratio of 2.24 and a beta of 0.71. International Business Machines Corporation has a one year low of $199.19 and a one year high of $332.46. The company has a fifty day moving average price of $240.81 and a 200 day moving average price of $246.86. 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 (NYSE:IBM - Get Free Report) last announced 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 company had revenue of $17.16 billion for 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 revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.80 EPS. Analysts anticipate that International Business Machines Corporation will post 12.33 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.9%. International Business Machines's dividend payout ratio 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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