OVERSEA CHINESE BANKING Corp Ltd Acquires Shares of 2,183 International Business Machines Corporation $IBM

Key Points

• OVERSEA CHINESE BANKING Corp Ltd acquired 2,183 IBM shares worth approximately $614,000 in the second quarter. Institutional investors and hedge funds collectively own 58.96% of IBM.
• Analysts maintain a generally positive view, with 16 Buy, 11 Hold, and one Sell rating. IBM has a “Moderate Buy” consensus rating 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 forecasts. The company also declared a quarterly dividend of $1.69 per share, representing a 2.9% yield.

OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,183 shares of the technology company's stock, valued at approximately $614,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in IBM. August Group Capital Ltd purchased a new position in shares of International Business Machines during the second quarter worth $248,000. E Fund Management Co. Ltd. purchased a new stake in International Business Machines in the second quarter valued at $8,997,000. Westport Asset Management Inc. purchased a new stake in International Business Machines in the second quarter valued at $2,812,000. Notis McConarty Edward acquired a new stake in International Business Machines during the 2nd quarter worth about $225,000. Finally, Asahi Life Asset Management CO. LTD. acquired a new stake in International Business Machines during the 2nd quarter worth about $2,122,000. Institutional investors and hedge funds own 58.96% of the company's stock.

Insider Buying and Selling at International Business Machines

In related news, SVP Robert Thomas sold 25,000 shares of International Business Machines 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 owned 47,800 shares of the company's stock, valued at approximately $11,009,296. This trade represents a 34.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.27% of the stock is currently owned by insiders.

Analysts Set New Price Targets

IBM has been the subject of several analyst reports. Wedbush set a $350.00 price objective on International Business Machines in a report on Tuesday, June 2nd. BMO Capital Markets dropped their target price on International Business Machines from $270.00 to $230.00 and set a "market perform" rating on the stock in a report on Thursday, July 23rd. Craig Hallum started coverage on International Business Machines in a report on Wednesday, August 19th. They issued a "buy" rating for the company. Stifel Nicolaus lowered their price objective on International Business Machines from $290.00 to $235.00 and set a "buy" rating on the stock in a research report on Monday, July 20th. Finally, Barclays dropped their price objective on shares of International Business Machines from $288.00 to $262.00 and set an "overweight" rating on the stock in a research note on Thursday, July 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 stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $265.90.

International Business Machines Trading Up 0.1%

IBM stock opened at $234.87 on Friday. International Business Machines Corporation has a 52-week low of $199.19 and a 52-week high of $332.46. 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 firm 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. The company's 50-day simple moving average is $241.67 and its 200-day simple moving average is $247.13.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share for the quarter, meeting 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%.International Business Machines's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.80 EPS. As a group, 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 announced 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 is presently 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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