Rakuten Securities Inc. Takes Position in International Business Machines Corporation $IBM

Key Points

• Rakuten Securities purchased 3,488 IBM shares worth approximately $981,000 in the second quarter. Institutional investors and hedge funds collectively own 58.96% of IBM.
• IBM reported quarterly EPS of $2.93, in line with analyst expectations, while revenue of $17.16 billion fell short of the $17.46 billion consensus estimate. Revenue nevertheless increased 1.1% year over year.
• IBM declared a quarterly dividend of $1.69, equal to $6.76 annually and a 2.9% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $265.90, above the cited share price of $234.87.

Rakuten Securities Inc. purchased a new stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,488 shares of the technology company's stock, valued at approximately $981,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC raised its holdings in International Business Machines by 12.4% in the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock valued at $4,619,000 after acquiring an additional 2,323 shares during the period. Sivia Capital Partners LLC boosted its holdings in shares of International Business Machines by 10.6% during the second quarter. Sivia Capital Partners LLC now owns 1,938 shares of the technology company's stock worth $571,000 after acquiring an additional 186 shares during the period. Jump Financial LLC bought a new stake in shares of International Business Machines during the second quarter worth approximately $211,000. Ieq Capital LLC grew its position in shares of International Business Machines by 2.2% in the second quarter. Ieq Capital LLC now owns 38,617 shares of the technology company's stock valued at $11,383,000 after purchasing an additional 843 shares during the last quarter. Finally, Vivaldi Capital Management LP increased its stake in shares of International Business Machines by 11.6% during the second quarter. Vivaldi Capital Management LP now owns 1,017 shares of the technology company's stock worth $300,000 after purchasing an additional 106 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Robert Thomas sold 25,000 shares of the business's stock in a transaction dated 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. The trade was a 34.34% decrease in their ownership of the stock. The sale 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 corporate insiders.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $234.87 on Monday. The firm has a 50 day moving average of $241.67 and a 200-day moving average of $247.02. International Business Machines Corporation has a 12 month low of $199.19 and a 12 month high of $332.46. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $221.28 billion, a PE ratio of 20.84, a PEG ratio of 2.24 and a beta of 0.71.

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 net margin of 15.52% and a return on equity of 35.65%. The firm's quarterly revenue was up 1.1% compared to the same quarter last year. During the same period last year, the firm posted $2.80 earnings per share. On average, equities research analysts predict that International Business Machines Corporation will post 12.33 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, August 10th. This represents a $6.76 annualized dividend and a yield of 2.9%. International Business Machines's dividend payout ratio (DPR) is 59.98%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of International Business Machines from a "sell" rating to a "hold" rating in a research report on Saturday, August 29th. Piper Sandler raised shares of International Business Machines to an "overweight" rating in a research report on Tuesday, June 23rd. Citigroup cut their price objective on shares of International Business Machines from $255.00 to $245.00 and set a "buy" rating for the company in a report on Friday, July 24th. Argus decreased their target price on shares of International Business Machines from $360.00 to $280.00 and set a "buy" rating on the stock in a research report on Thursday, July 16th. Finally, Needham & Company LLC assumed coverage on shares of International Business Machines in a research report on Wednesday, June 3rd. They issued a "buy" rating for the company. Sixteen research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target 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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