Heartland Bank & Trust Co Invests $1.26 Million in International Business Machines Corporation $IBM

Key Points

• Heartland Bank & Trust Co. acquired 4,487 IBM shares worth approximately $1.26 million in the second quarter, while institutional investors collectively own 58.96% of the company.
• IBM’s analyst consensus remains a “Moderate Buy”, with a $265.90 average price target, although recent ratings have ranged from “buy” to “reduce.”
• IBM reported quarterly revenue of $17.16 billion and adjusted earnings of $2.93 per share, while declaring a quarterly dividend of $1.69, equivalent to a 2.9% yield.

Heartland Bank & Trust Co purchased a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 4,487 shares of the technology company's stock, valued at approximately $1,262,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of IBM. Brighton Jones LLC raised its holdings in shares of International Business Machines by 12.4% in the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock valued at $4,619,000 after buying an additional 2,323 shares during the last quarter. Sivia Capital Partners LLC increased its position in International Business Machines by 10.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,938 shares of the technology company's stock valued at $571,000 after acquiring an additional 186 shares during the period. Jump Financial LLC acquired a new stake in International Business Machines during the 2nd quarter worth approximately $211,000. Ieq Capital LLC grew its stake in shares of International Business Machines by 2.2% in the 2nd quarter. Ieq Capital LLC now owns 38,617 shares of the technology company's stock valued at $11,383,000 after purchasing an additional 843 shares during the last quarter. Finally, Vivaldi Capital Management LP increased its holdings in shares of International Business Machines by 11.6% in the second quarter. Vivaldi Capital Management LP now owns 1,017 shares of the technology company's stock valued at $300,000 after purchasing an additional 106 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other International Business Machines news, SVP Robert Thomas sold 25,000 shares of the firm'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 sale, the senior vice president directly owned 47,800 shares of the company's stock, valued at approximately $11,009,296. This trade represents a 34.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.27% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Needham & Company LLC initiated coverage on shares of International Business Machines in a research report on Wednesday, June 3rd. They set a "buy" rating for the company. HSBC set a $175.00 price target on International Business Machines and gave the company a "reduce" rating in a research note on Thursday, July 16th. Morgan Stanley cut their price objective on International Business Machines from $293.00 to $190.00 and set an "equal weight" rating for the company in a research report on Thursday, July 23rd. Royal Bank Of Canada restated an "outperform" rating and set a $270.00 target price on shares of International Business Machines in a research report on Tuesday, July 21st. Finally, Weiss Ratings cut shares of International Business Machines from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, June 24th. Sixteen research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, International Business Machines currently has a consensus rating of "Moderate Buy" and a consensus target price of $265.90.

International Business Machines Price Performance

International Business Machines stock opened at $234.87 on Monday. The stock has a market capitalization 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 12-month low of $199.19 and a 12-month high of $332.46. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.79 and a quick ratio of 0.74. The firm'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 quarterly earnings data on Wednesday, July 22nd. The technology company reported $2.93 earnings per share for the quarter, meeting analysts' consensus estimates of $2.93. The business had revenue of $17.16 billion during the quarter, compared to analyst estimates of $17.46 billion. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. The company's revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.80 earnings per share. Equities analysts predict 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 announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 10th will be paid a $1.69 dividend. This represents a $6.76 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, August 10th. International Business Machines's dividend payout ratio is presently 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.

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