Haverford Trust Co Makes New $4.83 Million Investment in International Business Machines Corporation $IBM

Key Points

• Haverford Trust Co. acquired 17,182 IBM shares worth approximately $4.83 million during the second quarter, while institutional investors collectively own 58.96% of the company.
• IBM’s latest quarterly results matched expectations at $2.93 EPS, but revenue of $17.16 billion fell short of the $17.46 billion consensus estimate; revenue still 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 with a $265.90 average price target, despite several recent target reductions.

Haverford Trust Co acquired a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 17,182 shares of the technology company's stock, valued at approximately $4,832,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Orca Wealth Management LLC lifted its holdings in shares of International Business Machines by 3.7% during the 4th quarter. Orca Wealth Management LLC now owns 975 shares of the technology company's stock valued at $285,000 after purchasing an additional 35 shares in the last quarter. Friday Financial increased its stake in International Business Machines by 1.9% during the 2nd quarter. Friday Financial now owns 1,903 shares of the technology company's stock worth $583,000 after purchasing an additional 35 shares in the last quarter. First Command Advisory Services Inc. raised its holdings in International Business Machines by 1.1% during the 4th quarter. First Command Advisory Services Inc. now owns 3,459 shares of the technology company's stock worth $1,025,000 after buying an additional 36 shares during the period. HORAN Wealth LLC raised its holdings in International Business Machines by 1.3% during the 4th quarter. HORAN Wealth LLC now owns 2,851 shares of the technology company's stock worth $844,000 after buying an additional 37 shares during the period. Finally, Washington Trust Bank lifted its stake in International Business Machines by 2.2% in the fourth quarter. Washington Trust Bank now owns 1,712 shares of the technology company's stock valued at $507,000 after buying an additional 37 shares in the last quarter. Institutional investors own 58.96% of the company's stock.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $234.77 on Tuesday. The firm has a market capitalization of $221.18 billion, a price-to-earnings ratio of 20.83, a PEG ratio of 2.24 and a beta of 0.71. The company has a quick ratio of 0.74, a current ratio of 0.79 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 stock's 50 day moving average is $240.81 and its 200-day moving average is $246.86.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The technology company reported $2.93 earnings per share (EPS) for the quarter, hitting 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 business had revenue of $17.16 billion during the quarter, compared to the consensus estimate of $17.46 billion. During the same period in the prior year, the firm posted $2.80 EPS. The firm's quarterly revenue was up 1.1% compared to the same quarter last year. Sell-side analysts forecast that International Business Machines Corporation will post 12.33 EPS for the current fiscal year.

International Business Machines Announces Dividend

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

Insider Activity 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 dated 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 transaction, the senior vice president directly owned 47,800 shares in the company, valued at $11,009,296. This represents a 34.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on IBM. Morgan Stanley lowered their price objective on shares of International Business Machines from $293.00 to $190.00 and set an "equal weight" rating on the stock in a report on Thursday, July 23rd. Argus reduced their target price on International Business Machines from $360.00 to $280.00 and set a "buy" rating for the company in a research note on Thursday, July 16th. JPMorgan Chase & Co. decreased their price target on shares of International Business Machines from $291.00 to $250.00 and set an "overweight" rating on the stock in a research note on Friday, July 17th. Weiss Ratings cut International Business Machines from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, June 24th. Finally, Sanford C. Bernstein reissued a "market perform" rating on shares of International Business Machines in a research report on Thursday, July 16th. Sixteen investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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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