Northcape Wealth Management LLC Buys Shares of 18,471 International Business Machines Corporation $IBM

Key Points

• Northcape Wealth Management purchased 18,471 IBM shares worth approximately $5.19 million, making IBM about 1.4% of its portfolio. Institutional investors and hedge funds collectively own 58.96% of IBM.
• Analysts maintain a generally positive outlook, with 16 Buy, 11 Hold, and one Sell rating. IBM has a consensus rating of “Moderate Buy” and an average price target of $265.90.
• IBM reported quarterly EPS of $2.93, matching estimates, while revenue of $17.16 billion fell short of expectations but rose 1.1% year over year. The company also declared a quarterly dividend of $1.69, representing a 2.9% annualized yield.

Northcape Wealth Management LLC purchased a new position in International Business Machines Corporation (NYSE:IBM - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 18,471 shares of the technology company's stock, valued at approximately $5,194,000. International Business Machines makes up about 1.4% of Northcape Wealth Management LLC's investment portfolio, making the stock its 20th biggest holding.

Other institutional investors have also made changes to their positions in the company. Basepoint Wealth LLC purchased a new stake in International Business Machines in the 4th quarter worth approximately $25,000. Portus Wealth Advisors LLC acquired a new stake in shares of International Business Machines during the 1st quarter valued at $26,000. Harborfront Financial Group LLC purchased a new position in shares of International Business Machines during the 2nd quarter valued at $27,000. Cornerstone Financial Management LLC purchased a new position in shares of International Business Machines during the 4th quarter valued at $28,000. Finally, SWAN Capital LLC acquired a new position in shares of International Business Machines in the third quarter worth $28,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. HSBC set a $175.00 price objective on International Business Machines and gave the company a "reduce" rating in a research report on Thursday, July 16th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of International Business Machines in a research note on Thursday, July 16th. Jefferies Financial Group reduced their price target on International Business Machines from $320.00 to $260.00 and set a "buy" rating for the company in a report on Tuesday, July 21st. Robert W. Baird assumed coverage on International Business Machines in a research note on Tuesday, July 21st. They issued a "neutral" rating and a $230.00 price target for the company. Finally, Craig Hallum began coverage on International Business Machines in a report on Wednesday, August 19th. They issued a "buy" rating on the stock. Sixteen research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $265.90.

International Business Machines Stock Performance

Shares of NYSE IBM opened at $234.87 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.74 and a current ratio of 0.79. The firm has a market cap of $221.28 billion, a price-to-earnings ratio of 20.84, a P/E/G ratio of 2.24 and a beta of 0.71. The business's 50-day simple moving average is $241.67 and its 200-day simple moving average is $247.13. International Business Machines Corporation has a 52 week low of $199.19 and a 52 week high of $332.46.

International Business Machines (NYSE:IBM - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share for the quarter, hitting the consensus estimate of $2.93. The firm had revenue of $17.16 billion during the quarter, compared to analyst estimates of $17.46 billion. International Business Machines had a return on equity of 35.65% and a net margin of 15.52%.The company's revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.80 EPS. As a group, equities research analysts expect that International Business Machines Corporation will post 12.33 earnings per share 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 given a $1.69 dividend. The ex-dividend date of this dividend 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 dividend payout ratio (DPR) is currently 59.98%.

Insider Buying and Selling at International Business Machines

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

About International Business Machines

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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