TCM Advisors LLC Buys New Shares in International Business Machines Corporation $IBM

Key Points

• TCM Advisors LLC purchased 2,700 IBM shares during the second quarter, valued at approximately $759,000. Institutional investors and hedge funds collectively own 58.96% of IBM’s outstanding stock.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $265.90, although ratings range from “Buy” to “Reduce.”
• IBM reported quarterly EPS of $2.93, matching estimates, while revenue of $17.16 billion fell short of expectations. The company declared a $1.69 quarterly dividend, equivalent to a 2.9% annual yield.

TCM Advisors LLC purchased a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 2,700 shares of the technology company's stock, valued at approximately $759,000.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC increased its position in shares of International Business Machines by 12.4% in the fourth 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 last quarter. Sivia Capital Partners LLC boosted its position in 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 valued at $571,000 after purchasing an additional 186 shares during the last quarter. Jump Financial LLC bought a new position in International Business Machines in the second quarter valued at approximately $211,000. Ieq Capital LLC increased its position in shares of 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 purchasing an additional 843 shares during the last quarter. Finally, Vivaldi Capital Management LP increased its position in shares of International Business Machines by 11.6% during the 2nd 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 last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IBM has been the subject of several recent analyst reports. Royal Bank Of Canada reissued an "outperform" rating and issued a $270.00 price objective on shares of International Business Machines in a report on Tuesday, July 21st. Needham & Company LLC initiated coverage on shares of International Business Machines in a research report on Wednesday, June 3rd. They set a "buy" rating on the stock. Oppenheimer downgraded shares of International Business Machines from an "outperform" rating to a "market perform" rating in a research report on Wednesday, July 15th. The Goldman Sachs Group set a $270.00 price objective on shares of International Business Machines in a research note on Thursday, July 23rd. Finally, HSBC set a $175.00 target price on shares of International Business Machines and gave the company a "reduce" rating in a report on Thursday, July 16th. Sixteen investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, International Business Machines has a consensus rating of "Moderate Buy" and a consensus target price of $265.90.

International Business Machines Trading Down 0.1%

Shares of International Business Machines stock opened at $234.77 on Tuesday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.79 and a quick ratio of 0.74. The business has a fifty day simple moving average of $240.81 and a two-hundred day simple moving average of $246.86. International Business Machines Corporation has a 1 year low of $199.19 and a 1 year high of $332.46. The company has a market capitalization of $221.18 billion, a price-to-earnings ratio of 20.83, a P/E/G ratio of 2.24 and a beta of 0.71.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The technology company reported $2.93 earnings per share for the quarter, meeting the consensus estimate 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 net margin of 15.52% and a return on equity of 35.65%. The company's revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.80 earnings per share. Research 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 declared 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. This represents a $6.76 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Monday, August 10th. International Business Machines's dividend payout ratio is currently 59.98%.

Insider Transactions at International Business Machines

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

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.

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