Encore Global Management LP Invests $2.02 Million in International Business Machines Corporation $IBM

Key Points

• Encore Global Management purchased 7,200 IBM shares worth approximately $2.02 million, making IBM 2% of its portfolio and its 23rd-largest holding. Institutional investors collectively own 58.96% of IBM.
• IBM reported quarterly earnings of $2.93 per share, in line with estimates, while revenue of $17.16 billion fell short of expectations but increased 1.1% year over year.
• 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.

Encore Global Management LP purchased a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 7,200 shares of the technology company's stock, valued at approximately $2,025,000. International Business Machines accounts for 2.0% of Encore Global Management LP's holdings, making the stock its 23rd largest position.

A number of other institutional investors have also modified their holdings of IBM. Basepoint Wealth LLC bought a new position in International Business Machines in the fourth quarter worth about $25,000. Portus Wealth Advisors LLC acquired a new stake in shares of International Business Machines during the 1st quarter worth approximately $26,000. Harborfront Financial Group LLC bought a new stake in shares of International Business Machines in the 2nd quarter worth approximately $27,000. Cornerstone Financial Management LLC acquired a new position in International Business Machines during the 4th quarter valued at approximately $28,000. Finally, Hara Capital LLC acquired a new position in International Business Machines during the 2nd quarter valued at approximately $28,000. Institutional investors own 58.96% of the company's stock.

International Business Machines Trading Up 0.1%

Shares of NYSE:IBM opened at $234.87 on Friday. The company has a 50 day moving average of $241.67 and a 200-day moving average of $247.13. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.63. The firm has a market cap of $221.28 billion, a P/E ratio of 20.84, a P/E/G ratio of 2.24 and a beta of 0.71. International Business Machines Corporation has a twelve month low of $199.19 and a twelve month high of $332.46.

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

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 10th will be issued a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, August 10th. International Business Machines's payout ratio is presently 59.98%.

Insider Buying and Selling

In other International Business Machines 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 sale, the senior vice president directly owned 47,800 shares in the company, valued at approximately $11,009,296. The trade was a 34.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on IBM shares. Wall Street Zen upgraded International Business Machines from a "sell" rating to a "hold" rating in a research note on Saturday, August 29th. Susquehanna boosted their target price on shares of International Business Machines from $225.00 to $235.00 and gave the company a "neutral" rating in a research note on Monday, August 31st. Wedbush set a $350.00 price target on shares of International Business Machines in a research note on Tuesday, June 2nd. BMO Capital Markets cut their price target on International Business Machines from $270.00 to $230.00 and set a "market perform" rating on the stock in a report on Thursday, July 23rd. Finally, Bank of America increased their price objective on International Business Machines from $315.00 to $330.00 and gave the stock a "buy" rating in a report on Monday, July 6th. Sixteen investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $265.90.

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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