Emerald Investment Advisers LLC Invests $13.27 Million in International Business Machines Corporation $IBM

Key Points

• Emerald Investment Advisers purchased 47,187 IBM shares worth approximately $13.27 million in the second quarter, making IBM 0.9% of its portfolio and its 16th-largest holding. Institutional investors and hedge funds collectively own 58.96% of IBM.
• IBM reported quarterly EPS of $2.93, in line with estimates, while revenue rose 1.1% year over year to $17.16 billion but fell short of the $17.46 billion consensus forecast.
• IBM declared a quarterly dividend of $1.69 per share, equivalent to an annualized $6.76 payout and a 2.9% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $265.90, versus the reported share price of $234.87.

Emerald Investment Advisers LLC bought a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 47,187 shares of the technology company's stock, valued at approximately $13,269,000. International Business Machines comprises 0.9% of Emerald Investment Advisers LLC's holdings, making the stock its 16th largest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Basepoint Wealth LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at approximately $25,000. Cornerstone Financial Management LLC purchased a new stake in shares of International Business Machines during the 4th quarter valued at approximately $28,000. Harborfront Financial Group LLC acquired a new position in International Business Machines in the second quarter valued at approximately $27,000. Hara Capital LLC purchased a new position in International Business Machines in the second quarter worth approximately $28,000. Finally, SWAN Capital LLC purchased a new stake in International Business Machines in the third quarter valued at $28,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Down 0.0%

IBM stock opened at $234.87 on Monday. The stock has a market cap 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 current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.63. International Business Machines Corporation has a twelve month low of $199.19 and a twelve month high of $332.46. The company's 50 day moving average is $241.67 and its two-hundred day moving average is $247.02.

International Business Machines (NYSE:IBM - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The technology company reported $2.93 EPS for the quarter, meeting analysts' consensus estimates of $2.93. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. The firm had revenue of $17.16 billion for the quarter, compared to the consensus estimate of $17.46 billion. During the same period last year, the firm posted $2.80 EPS. The company's revenue was up 1.1% on a year-over-year basis. Research 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 declared 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. 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 is currently 59.98%.

Analyst Ratings Changes

A number of brokerages have weighed in on IBM. Piper Sandler upgraded shares of International Business Machines to an "overweight" rating in a research report on Tuesday, June 23rd. Jefferies Financial Group cut their price target on shares of International Business Machines from $320.00 to $260.00 and set a "buy" rating on the stock in a research note on Tuesday, July 21st. Wedbush set a $350.00 price objective on shares of International Business Machines in a research note on Tuesday, June 2nd. Robert W. Baird assumed coverage on shares of International Business Machines in a report on Tuesday, July 21st. They issued a "neutral" rating and a $230.00 price objective for the company. Finally, Stifel Nicolaus reduced their target price on shares of International Business Machines from $290.00 to $235.00 and set a "buy" rating on the stock in a report on Monday, July 20th. Sixteen equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, International Business Machines presently has an average rating of "Moderate Buy" and an average price target of $265.90.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Robert Thomas sold 25,000 shares of the company's stock in a transaction that occurred on 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. This represents a 34.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is owned by company insiders.

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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