Kendall Capital Management Invests $1.06 Million in International Business Machines Corporation $IBM

Key Points

• Kendall Capital Management acquired 3,780 IBM shares worth approximately $1.06 million in the second quarter. Institutional investors and hedge funds collectively own 58.96% of IBM.
• Analyst sentiment remains generally positive, with IBM receiving a consensus “Moderate Buy” rating and an average price target of $265.90, compared with a recent share price of $234.77.
• IBM reported second-quarter earnings of $2.93 per share, matching estimates, while revenue rose 1.1% year over year to $17.16 billion. The company declared a quarterly dividend of $1.69 per share, equating to a 2.9% yield.

Kendall Capital Management acquired a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,780 shares of the technology company's stock, valued at approximately $1,063,000.

Several other institutional investors and hedge funds also recently bought and sold shares of IBM. BlackRock Inc. purchased a new stake in shares of International Business Machines during the 2nd quarter valued at approximately $21,586,659,000. Bank of New York Mellon Corp acquired a new stake in International Business Machines during the second quarter worth $2,606,782,000. Norges Bank acquired a new position in shares of International Business Machines in the 4th quarter valued at $2,446,429,000. Capital World Investors lifted its stake in shares of International Business Machines by 29.2% in the 4th quarter. Capital World Investors now owns 22,021,912 shares of the technology company's stock valued at $6,523,720,000 after purchasing an additional 4,976,756 shares during the last quarter. Finally, Deutsche Bank AG acquired a new stake in shares of International Business Machines during the 2nd quarter worth about $960,839,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at International Business Machines

In other news, SVP Robert Thomas sold 25,000 shares of the firm's stock in a transaction on Wednesday, August 26th. The shares were 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 in the company, valued at approximately $11,009,296. This trade represents a 34.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.27% of the company's stock.

Analyst Ratings Changes

IBM has been the topic of a number of recent analyst reports. Needham & Company LLC initiated coverage on shares of International Business Machines in a research report on Wednesday, June 3rd. They issued a "buy" rating on the stock. Wall Street Zen upgraded shares of International Business Machines from a "sell" rating to a "hold" rating in a report on Saturday, August 29th. Weiss Ratings cut shares of International Business Machines from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, June 24th. KeyCorp lowered International Business Machines to a "sector weight" rating in a research report on Tuesday, June 23rd. Finally, Susquehanna lifted their price objective on International Business Machines from $225.00 to $235.00 and gave the company a "neutral" rating in a research note on Monday, August 31st. Sixteen investment 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $265.90.

International Business Machines Stock Performance

NYSE:IBM opened at $234.77 on Tuesday. International Business Machines Corporation has a 52 week low of $199.19 and a 52 week high of $332.46. The company has a fifty day simple moving average of $240.81 and a two-hundred day simple moving average of $246.86. 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 $221.18 billion, a price-to-earnings ratio of 20.83, a price-to-earnings-growth ratio of 2.24 and a beta of 0.71.

International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results on Wednesday, July 22nd. The technology company reported $2.93 EPS for the quarter, hitting the consensus estimate of $2.93. The firm had revenue of $17.16 billion during 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%.International Business Machines's revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.80 EPS. As a group, equities analysts anticipate that International Business Machines Corporation will post 12.33 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company 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 yield of 2.9%. International Business Machines's payout ratio is currently 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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