Burnham & Co LLC Purchases New Stake in International Business Machines Corporation $IBM

Key Points

• Burnham & Co LLC acquired 8,047 IBM shares worth approximately $2.26 million in the second quarter, making IBM 1.8% of its portfolio and its 16th-largest holding. Institutional investors and hedge funds collectively own 58.96% of IBM.
• Analysts maintain a generally positive view, 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 earnings of $2.93 per share, in line with estimates, while revenue rose 1.1% year over year to $17.16 billion. The company also declared a $1.69 quarterly dividend, equivalent to a 2.9% yield.

Burnham & Co LLC acquired a new position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,047 shares of the technology company's stock, valued at approximately $2,263,000. International Business Machines accounts for 1.8% of Burnham & Co LLC's investment portfolio, making the stock its 16th biggest holding.

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Sanford C. Bernstein reissued a "market perform" rating on shares of International Business Machines in a report on Thursday, July 16th. Stifel Nicolaus decreased their target price on International Business Machines from $290.00 to $235.00 and set a "buy" rating on the stock in a research report on Monday, July 20th. Wall Street Zen raised International Business Machines from a "sell" rating to a "hold" rating in a research note on Saturday, August 29th. Craig Hallum started coverage on shares of International Business Machines in a report on Wednesday, August 19th. They issued a "buy" rating for the company. Finally, Citigroup lowered their price objective on shares of International Business Machines from $255.00 to $245.00 and set a "buy" rating for the company in a research report on Friday, July 24th. Sixteen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $265.90.

Insider Activity 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 stock was sold at an average price of $230.32, for a total value of $5,758,000.00. Following the transaction, the senior vice president directly owned 47,800 shares of the company's stock, valued at approximately $11,009,296. The trade was a 34.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.27% of the stock is currently owned by insiders.

International Business Machines Price Performance

Shares of NYSE IBM opened at $234.87 on Monday. International Business Machines Corporation has a twelve month low of $199.19 and a twelve month high of $332.46. The firm has a fifty day simple moving average of $241.67 and a 200 day simple moving average of $247.02. The company has a market capitalization of $221.28 billion, a PE ratio of 20.84, a P/E/G ratio of 2.24 and a beta of 0.71. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.63.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The technology company reported $2.93 EPS 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 for the quarter, compared to analysts' expectations of $17.46 billion. During the same quarter in the prior year, the firm posted $2.80 earnings per share. The business's quarterly revenue was up 1.1% compared to the same quarter last year. On average, sell-side analysts forecast that International Business Machines Corporation will post 12.33 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 10th will be given a dividend of $1.69 per share. The ex-dividend date is Monday, August 10th. This represents a $6.76 annualized dividend 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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