Causey Wealth LLC Acquires Shares of 2,893 International Business Machines Corporation $IBM

Key Points

• Causey Wealth LLC acquired 2,893 IBM shares worth approximately $813,000 in the second quarter, making IBM about 0.3% of its portfolio. Institutional investors collectively own 58.96% of IBM.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and a $265.90 price target, although several firms recently lowered their targets or ratings.
• IBM reported quarterly earnings of $2.93 per share, matching estimates, while revenue rose 1.1% year over year to $17.16 billion. The company also declared a quarterly dividend of $1.69 per share, representing a 2.9% annualized yield.

Causey Wealth LLC acquired a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,893 shares of the technology company's stock, valued at approximately $813,000. International Business Machines comprises approximately 0.3% of Causey Wealth LLC's investment portfolio, making the stock its 22nd largest position.

Several other large investors have also recently modified their holdings of IBM. Basepoint Wealth LLC bought a new position in International Business Machines during the fourth quarter valued at $25,000. Cornerstone Financial Management LLC bought a new stake in shares of International Business Machines in the 4th quarter worth about $28,000. Harborfront Financial Group LLC bought a new stake in shares of International Business Machines in the 2nd quarter worth about $27,000. Hara Capital LLC purchased a new position in shares of International Business Machines during the 2nd quarter worth about $28,000. Finally, SWAN Capital LLC bought a new position in International Business Machines during the 3rd quarter valued at about $28,000. Institutional investors own 58.96% of the company's stock.

Analyst Ratings Changes

IBM has been the subject of several recent analyst reports. Morgan Stanley dropped their target price on International Business Machines from $293.00 to $190.00 and set an "equal weight" rating for the company in a research report on Thursday, July 23rd. Weiss Ratings lowered International Business Machines from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, June 24th. HSBC set a $175.00 price objective on International Business Machines and gave the company a "reduce" rating in a report on Thursday, July 16th. Wolfe Research lowered International Business Machines to a "peer perform" rating in a research note on Tuesday, June 23rd. Finally, Robert W. Baird began coverage on International Business Machines in a research report on Tuesday, July 21st. They set a "neutral" rating and a $230.00 target price for the company. Sixteen analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $265.90.

International Business Machines Trading Up 0.1%

Shares of NYSE IBM opened at $234.87 on Friday. International Business Machines Corporation has a twelve month low of $199.19 and a twelve month high of $332.46. The firm has a market cap of $221.28 billion, a PE ratio of 20.84, a price-to-earnings-growth ratio of 2.24 and a beta of 0.71. The business has a fifty day simple moving average of $241.67 and a two-hundred day simple moving average of $247.13. 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 announced its quarterly earnings results on Wednesday, July 22nd. The technology company reported $2.93 EPS for the quarter, meeting the consensus estimate of $2.93. International Business Machines had a return on equity of 35.65% and a net margin of 15.52%.The firm had revenue of $17.16 billion for the quarter, compared to analyst estimates of $17.46 billion. During the same quarter last year, the firm posted $2.80 earnings per share. The business's revenue for the quarter was up 1.1% on a year-over-year basis. Analysts expect that International Business Machines Corporation will post 12.33 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 10th will be paid a dividend of $1.69 per share. The ex-dividend date 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 (DPR) is currently 59.98%.

Insider Buying and Selling

In related news, SVP Robert Thomas sold 25,000 shares of the business's stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $230.32, for a total value of $5,758,000.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.27% of the stock is owned by company insiders.

About International Business Machines

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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