SGL Investment Advisors Inc. Invests $6.07 Million in International Business Machines Corporation $IBM

Key Points

• SGL Investment Advisors acquired 25,664 IBM shares worth approximately $6.07 million, making IBM its 15th-largest holding at 2.1% of the portfolio. Institutional investors collectively own 58.96% of IBM’s outstanding shares.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and a $265.90 price target, although several firms recently lowered their targets. IBM shares opened at $234.87, near their 50- and 200-day moving averages.
• IBM’s latest quarterly results met EPS expectations at $2.93, while revenue of $17.16 billion fell short of forecasts but increased 1.1% year over year. The company also announced a quarterly dividend of $1.69, equivalent to a 2.9% annual yield.

SGL Investment Advisors Inc. purchased a new stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 25,664 shares of the technology company's stock, valued at approximately $6,065,000. International Business Machines accounts for about 2.1% of SGL Investment Advisors Inc.'s holdings, making the stock its 15th largest position.

Several other hedge funds have also recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of International Business Machines in the second quarter worth approximately $21,586,659,000. State Street Corp grew its position in International Business Machines by 1.0% during the fourth quarter. State Street Corp now owns 54,996,293 shares of the technology company's stock valued at $16,290,452,000 after purchasing an additional 518,321 shares in the last quarter. Geode Capital Management LLC increased its stake in International Business Machines by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 22,605,083 shares of the technology company's stock valued at $6,679,105,000 after buying an additional 336,069 shares during the period. Capital World Investors increased its stake in 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 valued at $6,523,720,000 after buying an additional 4,976,756 shares during the period. Finally, Bank of America Corp DE lifted its position in International Business Machines by 7.0% in the 1st quarter. Bank of America Corp DE now owns 16,063,653 shares of the technology company's stock worth $3,893,669,000 after buying an additional 1,049,602 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Robert Thomas sold 25,000 shares of International Business Machines stock in a transaction that occurred 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 transaction, the senior vice president directly owned 47,800 shares of the company's stock, valued at $11,009,296. The trade was a 34.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.27% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Argus decreased their target price on shares of International Business Machines from $360.00 to $280.00 and set a "buy" rating for the company in a research note on Thursday, July 16th. Morgan Stanley dropped their price target on shares of International Business Machines from $293.00 to $190.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 23rd. Bank of America increased their price objective on International Business Machines from $315.00 to $330.00 and gave the stock a "buy" rating in a report on Monday, July 6th. Oppenheimer cut International Business Machines from an "outperform" rating to a "market perform" rating in a research report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. lowered their target price on International Business Machines from $291.00 to $250.00 and set an "overweight" rating on the stock in a research note on Friday, July 17th. 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 a consensus rating of "Moderate Buy" and a consensus price target of $265.90.

International Business Machines Stock Up 0.1%

International Business Machines stock opened at $234.87 on Friday. The firm has a market cap of $221.28 billion, a price-to-earnings ratio of 20.84, a P/E/G ratio of 2.24 and a beta of 0.71. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.79 and a quick ratio of 0.74. International Business Machines Corporation has a fifty-two week low of $199.19 and a fifty-two week high of $332.46. The firm has a fifty day moving average price of $241.67 and a two-hundred day moving average price of $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 (EPS) for the quarter, meeting the consensus estimate of $2.93. The company had revenue of $17.16 billion for the quarter, compared to the consensus estimate 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 was up 1.1% compared to the same quarter last year. During the same period last year, the business posted $2.80 earnings per share. As a group, analysts forecast that International Business Machines Corporation will post 12.33 earnings per share for the current 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 issued 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 yield of 2.9%. International Business Machines's dividend payout ratio (DPR) is 59.98%.

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.