Cullen Capital Management LLC Purchases New Shares in International Business Machines Corporation $IBM

Cullen Capital Management LLC acquired a new stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 254,463 shares of the technology company's stock, valued at approximately $71,557,000.

A number of other institutional investors and hedge funds have also modified their holdings of IBM. Orca Wealth Management LLC increased its stake in International Business Machines by 3.7% during the fourth quarter. Orca Wealth Management LLC now owns 975 shares of the technology company's stock worth $285,000 after acquiring an additional 35 shares during the last quarter. Friday Financial raised its position 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 purchasing an additional 35 shares during the period. First Command Advisory Services Inc. lifted its stake in shares of International Business Machines by 1.1% in the 4th quarter. First Command Advisory Services Inc. now owns 3,459 shares of the technology company's stock valued at $1,025,000 after purchasing an additional 36 shares during the last quarter. HORAN Wealth LLC lifted its stake in shares of International Business Machines by 1.3% in the 4th quarter. HORAN Wealth LLC now owns 2,851 shares of the technology company's stock valued at $844,000 after purchasing an additional 37 shares during the last quarter. Finally, Washington Trust Bank grew its holdings in shares of International Business Machines by 2.2% during the 4th quarter. Washington Trust Bank now owns 1,712 shares of the technology company's stock worth $507,000 after purchasing an additional 37 shares during the period. Hedge funds and other institutional investors own 58.96% of the company's stock.

Insiders Place Their Bets

In other International Business Machines news, SVP Robert Thomas sold 25,000 shares of International Business Machines stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $230.32, for a total transaction of $5,758,000.00. Following the completion of the sale, the senior vice president directly owned 47,800 shares of the company's stock, valued at $11,009,296. The trade was a 34.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.27% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

IBM has been the subject of a number of recent analyst reports. KeyCorp downgraded International Business Machines to a "sector weight" rating in a research report on Tuesday, June 23rd. Needham & Company LLC initiated coverage on shares of International Business Machines in a research note on Wednesday, June 3rd. They set a "buy" rating for the company. Bank of America increased their target price 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. JPMorgan Chase & Co. dropped their price target on shares of International Business Machines from $291.00 to $250.00 and set an "overweight" rating for the company in a research report on Friday, July 17th. Finally, Citigroup decreased their price objective on shares of International Business Machines from $255.00 to $245.00 and set a "buy" rating on the stock in a report on Friday, July 24th. 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.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $265.90.

International Business Machines Stock Down 0.1%

Shares of International Business Machines stock opened at $234.77 on Tuesday. International Business Machines Corporation has a 52-week low of $199.19 and a 52-week high of $332.46. The company has a 50 day moving average of $240.81 and a 200 day moving average of $246.86. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.63. The company has a market capitalization of $221.18 billion, a P/E ratio of 20.83, a P/E/G ratio of 2.24 and a beta of 0.71.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The technology company reported $2.93 EPS for the quarter, meeting analysts' consensus estimates of $2.93. The company had revenue of $17.16 billion for the quarter, compared to the consensus estimate of $17.46 billion. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. The company's quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.80 EPS. As a group, research analysts forecast that International Business Machines Corporation will post 12.33 EPS for the current fiscal year.

International Business Machines Announces Dividend

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. The ex-dividend date is Monday, August 10th. This represents a $6.76 dividend on an annualized basis and a yield of 2.9%. International Business Machines's dividend payout ratio (DPR) is currently 59.98%.

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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