Csenge Advisory Group Acquires Shares of 13,355 International Business Machines Corporation $IBM

Csenge Advisory Group acquired a new position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 13,355 shares of the technology company's stock, valued at approximately $3,756,000.

Several other hedge funds also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in International Business Machines in the 2nd quarter valued at approximately $21,586,659,000. State Street Corp raised its stake in shares of 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 worth $16,290,452,000 after buying an additional 518,321 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of 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 worth $6,679,105,000 after buying an additional 336,069 shares in the last quarter. Capital World Investors lifted its holdings in shares of 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 valued at $6,523,720,000 after buying an additional 4,976,756 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of International Business Machines by 7.0% in 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 buying an additional 1,049,602 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

Insider Activity at International Business Machines

In other news, SVP Robert Thomas sold 25,000 shares of the firm'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 transaction of $5,758,000.00. Following the completion of the transaction, the senior vice president directly owned 47,800 shares of the company's stock, valued at $11,009,296. This trade represents a 34.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.27% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on IBM shares. Needham & Company LLC assumed coverage on International Business Machines in a report on Wednesday, June 3rd. They set a "buy" rating on the stock. Barclays reduced their target price on International Business Machines from $288.00 to $262.00 and set an "overweight" rating for the company in a report on Thursday, July 23rd. Bank of America upped their price target on shares of International Business Machines from $315.00 to $330.00 and gave the stock a "buy" rating in a research note on Monday, July 6th. Oppenheimer downgraded shares of International Business Machines from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 15th. Finally, Wolfe Research downgraded shares of International Business Machines to a "peer perform" rating in a report on Tuesday, June 23rd. Sixteen investment 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's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $265.90.

International Business Machines Stock Up 0.1%

International Business Machines stock opened at $234.87 on Friday. International Business Machines Corporation has a fifty-two week low of $199.19 and a fifty-two week high of $332.46. The firm has a market capitalization of $221.28 billion, a price-to-earnings ratio of 20.84, a price-to-earnings-growth ratio of 2.24 and a beta of 0.71. The stock's fifty day moving average is $241.67 and its two-hundred day moving average is $247.13. 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 (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The technology company reported $2.93 EPS for the quarter, hitting the consensus estimate of $2.93. The business had revenue of $17.16 billion for the quarter, compared to analyst estimates of $17.46 billion. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. The business's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.80 EPS. Analysts predict that International Business Machines Corporation will post 12.33 EPS 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 issued a $1.69 dividend. This represents a $6.76 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, August 10th. International Business Machines's dividend payout ratio is 59.98%.

International Business Machines Company 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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