Cibc World Market Inc. Buys Shares of 371,017 International Business Machines Corporation $IBM

Cibc World Market Inc. purchased a new position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 371,017 shares of the technology company's stock, valued at approximately $104,334,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Basepoint Wealth LLC acquired a new position in shares of International Business Machines in the 4th quarter valued at $25,000. Portus Wealth Advisors LLC bought a new stake in International Business Machines in the first quarter valued at about $26,000. Harborfront Financial Group LLC bought a new stake in International Business Machines in the second quarter valued at about $27,000. Cornerstone Financial Management LLC acquired a new position in International Business Machines in the fourth quarter valued at about $28,000. Finally, Hara Capital LLC bought a new position in International Business Machines during the second quarter worth about $28,000. 58.96% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, SVP Robert Thomas sold 25,000 shares of the stock in a transaction dated 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 completion of the transaction, the senior vice president directly 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 the SEC website. 0.27% of the stock is owned by company insiders.

Analysts Set New Price Targets

IBM has been the subject of a number of analyst reports. Craig Hallum started coverage on shares of International Business Machines in a report on Wednesday, August 19th. They set a "buy" rating for the company. Barclays cut their target price on shares of International Business Machines from $288.00 to $262.00 and set an "overweight" rating on the stock in a report on Thursday, July 23rd. Wolfe Research lowered shares of International Business Machines to a "peer perform" rating in a report on Tuesday, June 23rd. Weiss Ratings cut shares of International Business Machines from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, June 24th. Finally, KeyCorp lowered International Business Machines to a "sector weight" rating in a report on Tuesday, June 23rd. Sixteen 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's stock. According to data from MarketBeat, International Business Machines has a consensus rating of "Moderate Buy" and a consensus price target of $265.90.

International Business Machines Stock Down 0.1%

Shares of International Business Machines stock opened at $234.77 on Tuesday. The firm has a market cap of $221.18 billion, a PE ratio of 20.83, a P/E/G ratio of 2.24 and a beta of 0.71. The business's 50 day simple moving average is $240.81 and its 200 day simple moving average is $246.86. 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 Corporation has a 52-week low of $199.19 and a 52-week high of $332.46.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share for the quarter, hitting the consensus estimate of $2.93. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. The company had revenue of $17.16 billion during the quarter, compared to analysts' expectations of $17.46 billion. During the same period last year, the business earned $2.80 EPS. The business's quarterly revenue was up 1.1% on a year-over-year basis. On average, analysts predict 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 declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 10th will be paid a $1.69 dividend. This represents a $6.76 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, August 10th. International Business Machines's payout ratio is presently 59.98%.

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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