CM Wealth Advisors LLC Purchases Shares of 2,559 International Business Machines Corporation $IBM

CM Wealth Advisors LLC bought 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 filing with the Securities and Exchange Commission (SEC). The firm bought 2,559 shares of the technology company's stock, valued at approximately $720,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of International Business Machines during the second quarter valued at about $21,586,659,000. State Street Corp grew its holdings in 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 in the last quarter. Geode Capital Management LLC grew its holdings in International Business Machines by 1.5% during 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 stake in International Business Machines by 29.2% in the 4th quarter. Capital World Investors now owns 22,021,912 shares of the technology company's stock worth $6,523,720,000 after acquiring an additional 4,976,756 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in International Business Machines by 7.0% during the first 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. Institutional investors own 58.96% of the company's stock.

Analyst Upgrades and Downgrades

IBM has been the subject of a number of recent research reports. Oppenheimer cut shares of International Business Machines from an "outperform" rating to a "market perform" rating in a research note on Wednesday, July 15th. Wall Street Zen upgraded International Business Machines from a "sell" rating to a "hold" rating in a report on Saturday, August 29th. The Goldman Sachs Group set a $270.00 price objective on shares of International Business Machines in a research report on Thursday, July 23rd. JPMorgan Chase & Co. decreased their price target on International Business Machines from $291.00 to $250.00 and set an "overweight" rating for the company in a research note on Friday, July 17th. Finally, Robert W. Baird initiated coverage on International Business Machines in a research report on Tuesday, July 21st. They issued a "neutral" rating and a $230.00 price objective on the stock. Sixteen investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $265.90.

International Business Machines Stock Performance

IBM stock opened at $234.87 on Friday. International Business Machines Corporation has a 1-year low of $199.19 and a 1-year high of $332.46. The business has a 50-day moving average price of $241.67 and a 200 day moving average price of $247.13. The company has a market capitalization of $221.28 billion, a P/E ratio of 20.84, a PEG ratio of 2.24 and a beta of 0.71. 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 posted 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 net margin of 15.52% and a return on equity of 35.65%. The business had revenue of $17.16 billion during the quarter, compared to analyst estimates of $17.46 billion. During the same quarter in the previous year, the business posted $2.80 EPS. The company's quarterly revenue was up 1.1% compared to the same quarter last year. As a group, equities research analysts forecast that International Business Machines Corporation will post 12.33 EPS for the current fiscal 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 paid a dividend of $1.69 per share. 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 59.98%.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Robert Thomas sold 25,000 shares of the stock in a transaction dated 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 completion of the sale, the senior vice president directly owned 47,800 shares in the company, valued at approximately $11,009,296. This trade represents a 34.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.27% of the stock is owned by corporate insiders.

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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