Ieq Capital LLC Purchases New Stake in International Business Machines Corporation $IBM

Key Points

• Ieq Capital purchased 86,572 IBM shares during the second quarter, valued at approximately $24.3 million. Institutional investors collectively own 58.96% of IBM.
• Analyst sentiment remains positive but mixed, with IBM holding a “Moderate Buy” consensus rating and an average price target of $265.90.
• IBM reported quarterly EPS of $2.93, in line with estimates, while revenue rose 1.1% year over year to $17.16 billion. The company also declared a quarterly dividend of $1.69 per share, representing a 2.9% annualized yield.

Ieq Capital LLC bought a new stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 86,572 shares of the technology company's stock, valued at approximately $24,345,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Sterling Financial Planning Inc. bought a new position in International Business Machines in the second quarter valued at approximately $469,000. Burnham & Co LLC acquired a new position in shares of International Business Machines in the 2nd quarter valued at $2,263,000. Callan Family Office LLC bought a new position in shares of International Business Machines in the 2nd quarter worth $5,811,000. Expressive Wealth LLC acquired a new stake in shares of International Business Machines during the second quarter worth $217,000. Finally, Gambit Capital Management LLC bought a new stake in International Business Machines in the second quarter valued at about $308,000. 58.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on IBM shares. Susquehanna boosted their target price on International Business Machines from $225.00 to $235.00 and gave the stock a "neutral" rating in a research report on Monday, August 31st. KeyCorp lowered shares of International Business Machines to a "sector weight" rating in a research note on Tuesday, June 23rd. The Goldman Sachs Group set a $270.00 target price on shares of International Business Machines in a research note on Thursday, July 23rd. Wolfe Research lowered shares of International Business Machines to a "peer perform" rating in a report on Tuesday, June 23rd. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating on shares of International Business Machines in a research note on Thursday, July 16th. Sixteen analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $265.90.

International Business Machines Price Performance

IBM stock opened at $234.87 on Monday. The stock has a market cap of $221.28 billion, a PE ratio of 20.84, a price-to-earnings-growth ratio of 2.24 and a beta of 0.71. The stock has a 50-day moving average price of $241.67 and a two-hundred day moving average price of $247.02. International Business Machines Corporation has a 1 year low of $199.19 and a 1 year high of $332.46. 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 (NYSE:IBM - Get Free Report) last posted 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 return on equity of 35.65% and a net margin of 15.52%.The business had revenue of $17.16 billion during the quarter, compared to the consensus estimate of $17.46 billion. During the same period last year, the company earned $2.80 earnings per share. International Business Machines's quarterly revenue was up 1.1% on a year-over-year basis. Equities analysts forecast that International Business Machines Corporation will post 12.33 EPS 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. Stockholders of record on Monday, August 10th will be paid a dividend of $1.69 per share. This represents a $6.76 annualized dividend 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 (DPR) is currently 59.98%.

Insider Activity

In related news, SVP Robert Thomas sold 25,000 shares of the stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $230.32, for a total transaction of $5,758,000.00. Following the completion of the transaction, the senior vice president owned 47,800 shares in the company, valued at approximately $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 can be accessed through this hyperlink. 0.27% of the stock is owned by company 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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