Portfolio Design Labs LLC Makes New $1.66 Million Investment in International Business Machines Corporation $IBM

Key Points

• Portfolio Design Labs LLC acquired 5,910 IBM shares in the second quarter, valued at approximately $1.66 million. Institutional investors own 58.96% of IBM, with several major firms also initiating or expanding positions.
• IBM’s latest quarterly results matched expectations at $2.93 earnings per share, while revenue rose 1.1% year over year to $17.16 billion, slightly below consensus estimates.
• 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 rating with an average price target of $265.90.

Portfolio Design Labs LLC bought a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,910 shares of the technology company's stock, valued at approximately $1,662,000.

Several other hedge funds also recently made changes to their positions in IBM. BlackRock Inc. bought a new position in International Business Machines in the second quarter worth $21,586,659,000. Bank of New York Mellon Corp bought a new stake in shares of International Business Machines during the 2nd quarter valued at $2,606,782,000. Norges Bank purchased a new stake in shares of International Business Machines in the 4th quarter worth about $2,446,429,000. Capital World Investors grew its position in shares of International Business Machines by 29.2% in the 4th quarter. Capital World Investors now owns 22,021,912 shares of the technology company's stock worth $6,523,720,000 after buying an additional 4,976,756 shares during the period. Finally, Deutsche Bank AG bought a new position in shares of International Business Machines in the 2nd quarter worth about $960,839,000. 58.96% of the stock is currently owned by institutional investors.

Insider Activity at International Business Machines

In other news, SVP Robert Thomas sold 25,000 shares of the business'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 owned 47,800 shares in the company, valued at $11,009,296. The trade was a 34.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.27% of the company's stock.

International Business Machines Trading Up 0.1%

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

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. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. The company had revenue of $17.16 billion during the quarter, compared to the consensus estimate of $17.46 billion. During the same quarter last year, the firm earned $2.80 earnings per share. The firm's quarterly revenue was up 1.1% compared to the same quarter last year. On average, equities research analysts expect that International Business Machines Corporation will post 12.33 EPS 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. Shareholders 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 yield of 2.9%. The ex-dividend date is Monday, August 10th. International Business Machines's dividend payout ratio (DPR) is currently 59.98%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wedbush set a $350.00 price objective on shares of International Business Machines in a research note on Tuesday, June 2nd. Wall Street Zen raised shares of International Business Machines from a "sell" rating to a "hold" rating in a research note on Saturday, August 29th. Robert W. Baird assumed coverage on shares of International Business Machines in a report on Tuesday, July 21st. They set a "neutral" rating and a $230.00 target price for the company. Royal Bank Of Canada restated an "outperform" rating and issued a $270.00 price target on shares of International Business Machines in a research note on Tuesday, July 21st. Finally, Citigroup lowered their price objective on International Business Machines from $255.00 to $245.00 and set a "buy" rating for the company in a research note on Friday, July 24th. Sixteen research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, International Business Machines currently has an average rating of "Moderate Buy" and an average target price of $265.90.

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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