EP Wealth Advisors LLC Acquires Shares of 55,800 International Business Machines Corporation $IBM

Key Points

• EP Wealth Advisors acquired 55,800 IBM shares during the second quarter, valued at approximately $15.7 million. Institutional investors and hedge funds collectively own 58.96% of IBM.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and an average price target of $265.90, although some firms recently downgraded the stock or lowered their targets.
• IBM reported quarterly EPS of $2.93, matching estimates, while revenue of $17.16 billion fell short of forecasts but grew 1.1% year over year. The company also declared a quarterly dividend of $1.69 per share, representing a 2.9% annualized yield.

EP Wealth Advisors LLC purchased a new position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 55,800 shares of the technology company's stock, valued at approximately $15,691,000.

Other large investors have also added to or reduced their stakes in the company. Basepoint Wealth LLC bought a new position in International Business Machines in the 4th quarter valued at 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 position in International Business Machines in the second quarter valued at approximately $27,000. SWAN Capital LLC bought a new position in International Business Machines in the third quarter valued at approximately $28,000. Finally, Cornerstone Financial Management LLC acquired a new position in International Business Machines during the fourth quarter valued at approximately $28,000. Institutional investors and hedge funds own 58.96% of the company's stock.

Analyst Ratings Changes

IBM has been the topic of a number of research analyst reports. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $270.00 target price on shares of International Business Machines in a report on Tuesday, July 21st. Needham & Company LLC started coverage on International Business Machines in a research report on Wednesday, June 3rd. They set a "buy" rating for the company. Oppenheimer lowered International Business Machines from an "outperform" rating to a "market perform" rating in a research note on Wednesday, July 15th. BMO Capital Markets decreased their target price on International Business Machines from $270.00 to $230.00 and set a "market perform" rating on the stock in a research report on Thursday, July 23rd. Finally, Roth Capital reissued a "buy" rating on shares of International Business Machines in a research note on Wednesday, June 3rd. Sixteen 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $265.90.

International Business Machines Trading Down 0.0%

Shares of IBM stock opened at $234.87 on Monday. 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 Corporation has a fifty-two week low of $199.19 and a fifty-two week high of $332.46. The stock has a 50 day simple moving average of $241.67 and a two-hundred day simple moving average of $247.02. The company 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.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share for the quarter, meeting the consensus estimate of $2.93. The firm had revenue of $17.16 billion during 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 business's revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.80 earnings per share. Research analysts forecast that International Business Machines Corporation will post 12.33 earnings per share for the current year.

International Business Machines Announces Dividend

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

Insider Buying and Selling at International Business Machines

In other news, SVP Robert Thomas sold 25,000 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $230.32, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.27% of the stock is owned by corporate insiders.

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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