Clear Harbor Asset Management LLC Acquires New Stake in International Business Machines Corporation $IBM

Key Points

• Clear Harbor Asset Management acquired 3,374 IBM shares during the second quarter, valued at approximately $949,000. Institutional investors collectively own 58.96% of IBM’s outstanding stock.
• Analyst sentiment is broadly positive: IBM has a consensus “Moderate Buy” rating from 28 analysts, with an average price target of $265.90.
• IBM reported quarterly EPS of $2.93, matching estimates, while revenue reached $17.16 billion and rose 1.1% year over year. The company also declared a quarterly dividend of $1.69 per share, representing a 2.9% annualized yield.

Clear Harbor Asset Management LLC bought a new position in International Business Machines Corporation (NYSE:IBM - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,374 shares of the technology company's stock, valued at approximately $949,000.

Several other institutional investors and hedge funds have also made changes to their positions in IBM. Orca Wealth Management LLC increased its holdings in shares of International Business Machines by 3.7% during the 4th quarter. Orca Wealth Management LLC now owns 975 shares of the technology company's stock worth $285,000 after buying an additional 35 shares during the last quarter. Friday Financial boosted its holdings in International Business Machines by 1.9% in the second quarter. Friday Financial now owns 1,903 shares of the technology company's stock valued at $583,000 after acquiring an additional 35 shares during the last quarter. First Command Advisory Services Inc. grew its position in International Business Machines by 1.1% during the fourth quarter. First Command Advisory Services Inc. now owns 3,459 shares of the technology company's stock valued at $1,025,000 after acquiring an additional 36 shares during the period. HORAN Wealth LLC grew its position in International Business Machines by 1.3% during the fourth quarter. HORAN Wealth LLC now owns 2,851 shares of the technology company's stock valued at $844,000 after acquiring an additional 37 shares during the period. Finally, Washington Trust Bank increased its stake in International Business Machines by 2.2% during the fourth quarter. Washington Trust Bank now owns 1,712 shares of the technology company's stock worth $507,000 after acquiring an additional 37 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on IBM shares. Piper Sandler raised International Business Machines to an "overweight" rating in a research note on Tuesday, June 23rd. Wall Street Zen raised shares of International Business Machines from a "sell" rating to a "hold" rating in a research report on Saturday, August 29th. Morgan Stanley cut their price target on shares of International Business Machines from $293.00 to $190.00 and set an "equal weight" rating on the stock in a report on Thursday, July 23rd. The Goldman Sachs Group set a $270.00 price target on shares of International Business Machines in a research report on Thursday, July 23rd. Finally, Sanford C. Bernstein reissued a "market perform" rating on shares of International Business Machines in a research report on Thursday, July 16th. Sixteen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $265.90.

Insider Transactions 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 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 transaction, the senior vice president owned 47,800 shares in the company, valued at $11,009,296. The trade was a 34.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.27% of the stock is owned by company insiders.

International Business Machines Stock Performance

Shares of NYSE:IBM opened at $234.77 on Tuesday. 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 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. 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 one year low of $199.19 and a one year high of $332.46.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share for the quarter, hitting analysts' consensus estimates of $2.93. The firm had revenue of $17.16 billion during the quarter, compared to analysts' expectations 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 quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.80 EPS. On average, sell-side analysts forecast that International Business Machines Corporation will post 12.33 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 10th will be issued a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, August 10th. International Business Machines's dividend payout ratio (DPR) 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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