Oxford Financial Group LTD. LLC Purchases Shares of 4,681 International Business Machines Corporation $IBM

Key Points

• Oxford Financial Group acquired 4,681 IBM shares during the second quarter, valued at approximately $1.316 million. Institutional investors collectively own 58.96% of IBM’s outstanding stock.
• IBM reported quarterly EPS of $2.93, in line with analyst estimates, while revenue of $17.16 billion fell short of expectations but increased 1.1% year over year.
• IBM declared a quarterly dividend of $1.69 per share, equivalent to an annualized $6.76 payout and a 2.9% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $265.90.

Oxford Financial Group LTD. LLC acquired a new stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,681 shares of the technology company's stock, valued at approximately $1,316,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in IBM. Orca Wealth Management LLC increased its position in International Business Machines by 3.7% in the 4th quarter. Orca Wealth Management LLC now owns 975 shares of the technology company's stock valued at $285,000 after buying an additional 35 shares in the last quarter. Friday Financial boosted its holdings in International Business Machines by 1.9% in the second quarter. Friday Financial now owns 1,903 shares of the technology company's stock worth $583,000 after acquiring an additional 35 shares in the last quarter. First Command Advisory Services Inc. grew its stake in International Business Machines by 1.1% in the fourth quarter. First Command Advisory Services Inc. now owns 3,459 shares of the technology company's stock valued at $1,025,000 after acquiring an additional 36 shares during the period. Washington Trust Bank grew its stake in International Business Machines by 2.2% in the fourth quarter. Washington Trust Bank now owns 1,712 shares of the technology company's stock valued at $507,000 after acquiring an additional 37 shares during the period. Finally, HORAN Wealth LLC increased its holdings in shares of International Business Machines by 1.3% during the fourth quarter. HORAN Wealth LLC now owns 2,851 shares of the technology company's stock valued at $844,000 after acquiring an additional 37 shares in the last quarter. Institutional investors own 58.96% of the company's stock.

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 stock was 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 of the company's stock, valued at $11,009,296. This trade represents a 34.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is owned by insiders.

International Business Machines Price Performance

International Business Machines stock opened at $234.87 on Friday. 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 12 month low of $199.19 and a 12 month high of $332.46. The company has a market cap of $221.28 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 2.24 and a beta of 0.71. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.63.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The technology company reported $2.93 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $2.93. The business 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 quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.80 EPS. Sell-side analysts forecast that International Business Machines Corporation will post 12.33 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 10th will be given a dividend of $1.69 per share. The ex-dividend date is Monday, August 10th. This represents a $6.76 annualized dividend and a dividend yield of 2.9%. International Business Machines's dividend payout ratio is currently 59.98%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IBM. Roth Capital reiterated a "buy" rating on shares of International Business Machines in a report on Wednesday, June 3rd. Morgan Stanley decreased their price target on shares of International Business Machines from $293.00 to $190.00 and set an "equal weight" rating for the company in a research note on Thursday, July 23rd. Weiss Ratings downgraded shares of International Business Machines from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, June 24th. BMO Capital Markets dropped their price objective on shares of International Business Machines from $270.00 to $230.00 and set a "market perform" rating on the stock in a research note on Thursday, July 23rd. Finally, Susquehanna lifted their price objective on shares of International Business Machines from $225.00 to $235.00 and gave the company a "neutral" rating in a report 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 stock. Based on data from MarketBeat, International Business Machines currently has an average rating of "Moderate Buy" and an average price target of $265.90.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.