Shelter Mutual Insurance Co Makes New Investment in International Business Machines Corporation $IBM

Key Points

• Shelter Mutual Insurance Co. acquired 38,491 IBM shares worth approximately $10.8 million, making IBM 2.3% of its portfolio and its 13th-largest holding. Institutional investors collectively own 58.96% of IBM.
• Analysts maintain a generally positive view, with 16 Buy, 11 Hold, and one Sell rating. IBM has a “Moderate Buy” consensus rating and an average price target of $265.90, above its reported $234.87 share price.
• 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. The company also declared a $1.69 quarterly dividend, equivalent to a 2.9% annualized yield.

Shelter Mutual Insurance Co acquired a new position 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 & Exchange Commission. The institutional investor acquired 38,491 shares of the technology company's stock, valued at approximately $10,824,000. International Business Machines accounts for 2.3% of Shelter Mutual Insurance Co's portfolio, making the stock its 13th biggest position.

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Susquehanna raised their target price on International Business Machines from $225.00 to $235.00 and gave the company a "neutral" rating in a research note on Monday, August 31st. Wolfe Research lowered shares of International Business Machines to a "peer perform" rating in a research report on Tuesday, June 23rd. JPMorgan Chase & Co. dropped their price objective on shares of International Business Machines from $291.00 to $250.00 and set an "overweight" rating on the stock in a report on Friday, July 17th. Wedbush set a $350.00 price objective on shares of International Business Machines in a research report on Tuesday, June 2nd. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $270.00 target price on shares of International Business Machines in a research report on Tuesday, July 21st. Sixteen 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. Based on data from MarketBeat, International Business Machines has an average rating of "Moderate Buy" and a consensus price target of $265.90.

International Business Machines Trading Up 0.1%

NYSE:IBM opened at $234.87 on Friday. International Business Machines Corporation has a 1 year low of $199.19 and a 1 year high of $332.46. The stock 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 business has a fifty day moving average of $241.67 and a 200-day moving average of $247.13. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.74 and a current ratio of 0.79.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The technology company reported $2.93 EPS for the quarter, meeting analysts' consensus estimates of $2.93. The company had revenue of $17.16 billion for the quarter, compared to analyst estimates of $17.46 billion. International Business Machines had a return on equity of 35.65% and a net margin of 15.52%.The company's quarterly revenue was up 1.1% compared to the same quarter last year. During the same period last year, the company earned $2.80 earnings per share. Equities analysts predict that International Business Machines Corporation will post 12.33 earnings per share for the current year.

International Business Machines Announces Dividend

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 paid a dividend of $1.69 per share. 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 presently 59.98%.

Insider Activity 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 shares were sold at an average price of $230.32, for a total transaction of $5,758,000.00. Following the sale, the senior vice president directly owned 47,800 shares in the company, valued at approximately $11,009,296. The trade was a 34.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.27% of the company's stock.

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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