Daiichi Life Insurance Co. Ltd. Takes $21.53 Million Position in International Business Machines Corporation $IBM

Key Points

• Daiichi Life Insurance acquired 76,573 IBM shares worth approximately $21.53 million in the second quarter. Institutional investors and hedge funds collectively own 58.96% of IBM.
• Analysts maintain a generally positive view, with 16 Buy ratings, 11 Holds, and one Sell; the consensus rating is “Moderate Buy” with a $265.90 price target.
• IBM reported quarterly earnings of $2.93 per share on $17.16 billion in revenue, while announcing a $1.69 quarterly dividend, equivalent to a 2.9% annualized yield.

Daiichi Life Insurance Co. Ltd. bought a new position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 76,573 shares of the technology company's stock, valued at approximately $21,533,000.

Other large investors have also bought and sold shares of the company. BlackRock Inc. bought a new stake in International Business Machines in the second quarter valued at $21,586,659,000. Bank of New York Mellon Corp acquired a new stake in shares of International Business Machines in the 2nd quarter valued at about $2,606,782,000. Norges Bank bought a new stake in International Business Machines in the 4th quarter valued at about $2,446,429,000. Capital World Investors raised its stake in International Business Machines by 29.2% during the 4th quarter. Capital World Investors now owns 22,021,912 shares of the technology company's stock worth $6,523,720,000 after buying an additional 4,976,756 shares during the period. Finally, Deutsche Bank AG acquired a new position in International Business Machines during the 2nd quarter worth approximately $960,839,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Robert Thomas sold 25,000 shares of the business's stock in a transaction dated 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 directly owned 47,800 shares of the company's stock, valued at approximately $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 can be accessed through this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on IBM shares. Barclays reduced their price objective on International Business Machines from $288.00 to $262.00 and set an "overweight" rating for the company in a research note on Thursday, July 23rd. Wedbush set a $350.00 target price on International Business Machines in a report on Tuesday, June 2nd. Roth Capital reissued a "buy" rating on shares of International Business Machines in a research report on Wednesday, June 3rd. Oppenheimer downgraded shares of International Business Machines from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 15th. Finally, KeyCorp lowered shares of International Business Machines to a "sector weight" rating in a research note on Tuesday, June 23rd. Sixteen investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $265.90.

International Business Machines Trading Down 0.0%

NYSE:IBM opened at $234.87 on Monday. International Business Machines Corporation has a 52 week low of $199.19 and a 52 week high of $332.46. The firm has a 50-day moving average price of $241.67 and a two-hundred day moving average price of $247.02. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.74 and a current ratio of 0.79. The firm has a market cap 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.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results 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 during the quarter, compared to the consensus estimate 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 revenue was up 1.1% on a year-over-year basis. During the same period last year, the business posted $2.80 earnings per share. On average, equities analysts expect that International Business Machines Corporation will post 12.33 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

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

Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Corporation (NYSE:IBM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source