Keebeck Wealth Management Invests $871,000 in International Business Machines Corporation $IBM

Key Points

• Keebeck Wealth Management acquired 3,097 IBM shares worth approximately $871,000 in the second quarter. Institutional investors and hedge funds collectively own 58.96% of IBM.
• IBM reported quarterly EPS of $2.93, matching estimates, while revenue of $17.16 billion fell short of expectations but increased 1.1% year over year. The company also declared a quarterly dividend of $1.69, or $6.76 annually, yielding about 2.9%.
• Analyst sentiment remains a “Moderate Buy,” with an average price target of $265.90 versus the reported share price of $234.87, although several firms recently lowered targets or downgraded their ratings.

Keebeck Wealth Management bought a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,097 shares of the technology company's stock, valued at approximately $871,000.

A number of other large investors have also recently made changes to their positions in IBM. Brighton Jones LLC lifted its stake in 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 boosted its holdings in shares of International Business Machines by 10.6% in the second 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 purchased a new position in shares of International Business Machines during the second quarter worth approximately $211,000. Ieq Capital LLC increased its holdings 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 acquiring an additional 843 shares during the period. Finally, Vivaldi Capital Management LP increased its holdings in shares of International Business Machines by 11.6% in the 2nd quarter. Vivaldi Capital Management LP now owns 1,017 shares of the technology company's stock valued at $300,000 after acquiring an additional 106 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $234.87 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.63. 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 Corporation has a 52 week low of $199.19 and a 52 week high of $332.46. The company has a 50-day moving average price of $241.67 and a 200 day moving average price of $247.13.

International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.93. The company 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.80 EPS. Research analysts predict that International Business Machines Corporation will post 12.33 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Monday, August 10th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 2.9%. International Business Machines's payout ratio is 59.98%.

Insiders Place Their Bets

In other International Business Machines news, SVP Robert Thomas sold 25,000 shares of the stock in a transaction 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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.27% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of International Business Machines from $291.00 to $250.00 and set an "overweight" rating for the company in a research note on Friday, July 17th. BMO Capital Markets reduced their target price on shares of International Business Machines from $270.00 to $230.00 and set a "market perform" rating for the company in a report on Thursday, July 23rd. Weiss Ratings downgraded shares of International Business Machines from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, June 24th. The Goldman Sachs Group set a $270.00 price target on International Business Machines in a report on Thursday, July 23rd. Finally, KeyCorp downgraded International Business Machines to a "sector weight" rating in a research note on Tuesday, June 23rd. Sixteen investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $265.90.

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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