OVERSEA CHINESE BANKING Corp Ltd Makes New Investment in International Business Machines Corporation $IBM

Key Points

• Oversea Chinese Banking Corp Ltd acquired 14,276 IBM shares in the second quarter, valued at approximately $3.99 million. Institutional investors collectively own 58.96% of IBM.
• IBM reported quarterly earnings of $2.93 per share, matching estimates, while revenue reached $17.16 billion, slightly below expectations but up 1.1% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $265.90. IBM also announced a quarterly dividend of $1.69 per share, representing a 2.9% annualized yield.

OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,276 shares of the technology company's stock, valued at approximately $3,986,000.

A number of other institutional investors also recently modified their holdings of IBM. August Group Capital Ltd bought a new stake in shares of International Business Machines in the second quarter worth about $248,000. E Fund Management Co. Ltd. bought a new position in International Business Machines during the 2nd quarter valued at approximately $8,997,000. Westport Asset Management Inc. purchased a new stake in International Business Machines in the 2nd quarter worth approximately $2,812,000. Notis McConarty Edward bought a new stake in shares of International Business Machines in the 2nd quarter worth approximately $225,000. Finally, Asahi Life Asset Management CO. LTD. bought a new stake in shares of International Business Machines in the 2nd quarter worth approximately $2,122,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Robert Thomas sold 25,000 shares of the stock in a transaction dated 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 completion of the transaction, the senior vice president directly owned 47,800 shares in the company, valued at $11,009,296. This trade represents a 34.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on IBM shares. KeyCorp downgraded International Business Machines to a "sector weight" rating in a report on Tuesday, June 23rd. Craig Hallum initiated coverage on shares of International Business Machines in a report on Wednesday, August 19th. They issued a "buy" rating on the stock. Weiss Ratings downgraded shares of International Business Machines from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, June 24th. Wedbush set a $350.00 price objective on shares of International Business Machines in a report on Tuesday, June 2nd. Finally, Bank of America raised their target price on shares of International Business Machines from $315.00 to $330.00 and gave the stock a "buy" rating in a research report on Monday, July 6th. Sixteen 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. Based on data from MarketBeat.com, International Business Machines presently has an average rating of "Moderate Buy" and a consensus target price of $265.90.

International Business Machines Trading Up 0.1%

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. International Business Machines Corporation has a twelve month low of $199.19 and a twelve month high of $332.46. The firm has a market capitalization of $221.28 billion, a PE ratio of 20.84, a P/E/G ratio of 2.24 and a beta of 0.71. The stock's 50 day moving average is $241.67 and its 200 day moving average is $247.13.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly 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 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 revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.80 earnings per share. Research analysts forecast that International Business Machines Corporation will post 12.33 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

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 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 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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