OneAscent Family Office LLC Takes $846,000 Position in International Business Machines Corporation $IBM

Key Points

• OneAscent Family Office LLC initiated an IBM position by purchasing 3,010 shares valued at approximately $846,000. Institutional investors own 58.96% of IBM’s outstanding stock.
• IBM reported quarterly revenue of $17.16 billion, up 1.1% year over year, while earnings of $2.93 per share matched analyst estimates. The company maintains a $1.69 quarterly dividend, equivalent to a 2.9% yield.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and a $265.90 average price target, although targets range widely from $175 to $330. IBM shares recently opened at $234.87.

OneAscent Family Office LLC purchased a new position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 3,010 shares of the technology company's stock, valued at approximately $846,000.

A number of other large investors have also bought and sold shares of IBM. VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in shares of International Business Machines by 424.6% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 260,740 shares of the technology company's stock valued at $77,234,000 after acquiring an additional 211,040 shares during the period. Assetmark Inc. raised its stake in shares of International Business Machines by 24.8% during the first quarter. Assetmark Inc. now owns 64,458 shares of the technology company's stock valued at $15,624,000 after acquiring an additional 12,791 shares during the last quarter. GLOBALT Investments LLC GA boosted its holdings in shares of International Business Machines by 19.1% during the fourth quarter. GLOBALT Investments LLC GA now owns 18,288 shares of the technology company's stock worth $5,417,000 after purchasing an additional 2,930 shares during the period. Rice Partnership LLC bought a new stake in shares of International Business Machines in the fourth quarter worth about $3,317,000. Finally, Sage Investment Advisers LLC bought a new stake in shares of International Business Machines in the fourth quarter worth about $4,101,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

Shares of IBM opened at $234.87 on Friday. The company has a 50-day simple moving average of $241.67 and a two-hundred day simple moving average of $247.13. 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 has a market capitalization 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. International Business Machines Corporation has a one year low of $199.19 and a one year 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 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 firm had revenue of $17.16 billion for the quarter, compared to the consensus estimate of $17.46 billion. During the same quarter in the prior year, the business earned $2.80 EPS. The business's revenue for the quarter was up 1.1% on a year-over-year basis. On average, analysts anticipate that International Business Machines Corporation will post 12.33 EPS 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. This represents a $6.76 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Monday, August 10th. International Business Machines's dividend payout ratio is presently 59.98%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Bank of America upped their price target on International Business Machines from $315.00 to $330.00 and gave the company a "buy" rating in a research report on Monday, July 6th. HSBC set a $175.00 price objective on International Business Machines and gave the stock a "reduce" rating in a research report on Thursday, July 16th. JPMorgan Chase & Co. reduced their target price on International Business Machines from $291.00 to $250.00 and set an "overweight" rating on the stock in a research note on Friday, July 17th. Weiss Ratings downgraded International Business Machines from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, June 24th. Finally, Needham & Company LLC assumed coverage on International Business Machines in a research note on Wednesday, June 3rd. They issued a "buy" rating for the company. Sixteen investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $265.90.

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 on Wednesday, August 26th. The stock was 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 of the company's stock, valued at approximately $11,009,296. This trade represents a 34.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.27% of the stock is currently owned by 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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