Te Ahumairangi Investment Management Ltd Takes Position in International Business Machines Corporation $IBM

Key Points

• Te Ahumairangi Investment Management acquired 14,470 IBM shares worth approximately $4.1 million in the second quarter. Institutional investors collectively own 58.96% of IBM’s stock.
• IBM reported quarterly revenue of $17.16 billion, up 1.1% year over year, while earnings per share of $2.93 matched analyst expectations. The company also declared a quarterly dividend of $1.69 per share, representing a 2.9% annualized yield.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $265.90, although several firms recently reduced their price targets or downgraded the stock.

Te Ahumairangi Investment Management Ltd acquired a new position in International Business Machines Corporation (NYSE:IBM - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 14,470 shares of the technology company's stock, valued at approximately $4,069,000.

A number of other large investors have also recently bought and sold shares of the company. Orca Wealth Management LLC lifted its position in shares of International Business Machines by 3.7% during the 4th quarter. Orca Wealth Management LLC now owns 975 shares of the technology company's stock valued at $285,000 after acquiring an additional 35 shares during the period. Friday Financial increased its position in shares of International Business Machines by 1.9% in the second quarter. Friday Financial now owns 1,903 shares of the technology company's stock valued at $583,000 after buying an additional 35 shares in the last quarter. First Command Advisory Services Inc. raised its stake in shares of International Business Machines by 1.1% during the 4th quarter. First Command Advisory Services Inc. now owns 3,459 shares of the technology company's stock worth $1,025,000 after buying an additional 36 shares during the last quarter. HORAN Wealth LLC boosted its position in shares of International Business Machines by 1.3% in the 4th quarter. HORAN Wealth LLC now owns 2,851 shares of the technology company's stock worth $844,000 after buying an additional 37 shares in the last quarter. Finally, Washington Trust Bank boosted its position in shares of International Business Machines by 2.2% in the 4th quarter. Washington Trust Bank now owns 1,712 shares of the technology company's stock worth $507,000 after buying an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

International Business Machines Price Performance

International Business Machines stock opened at $234.77 on Tuesday. The stock has a market capitalization of $221.18 billion, a P/E ratio of 20.83, a P/E/G ratio of 2.24 and a beta of 0.71. International Business Machines Corporation has a 12-month low of $199.19 and a 12-month high of $332.46. 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 firm's 50-day moving average is $240.81 and its two-hundred day moving average is $246.86.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The technology company reported $2.93 earnings per share for the quarter, meeting analysts' consensus estimates of $2.93. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. The business had revenue of $17.16 billion during the quarter, compared to analyst estimates of $17.46 billion. During the same quarter in the previous year, the business posted $2.80 earnings per share. The company's revenue was up 1.1% on a year-over-year basis. Equities analysts predict 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 declared 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 dividend on an annualized basis and a dividend 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 Buying and Selling at International Business Machines

In other news, SVP Robert Thomas sold 25,000 shares of the firm's stock in a transaction on 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 sale, the senior vice president 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.27% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

IBM has been the subject of several recent research reports. Jefferies Financial Group dropped their target price on shares of International Business Machines from $320.00 to $260.00 and set a "buy" rating for the company in a report on Tuesday, July 21st. Royal Bank Of Canada reissued an "outperform" rating and set a $270.00 price objective on shares of International Business Machines in a research note on Tuesday, July 21st. Craig Hallum began coverage on International Business Machines in a research report on Wednesday, August 19th. They set a "buy" rating for the company. Oppenheimer lowered International Business Machines from an "outperform" rating to a "market perform" rating in a research note on Wednesday, July 15th. Finally, Citigroup lowered their target price on International Business Machines from $255.00 to $245.00 and set a "buy" rating on the stock in a report on Friday, July 24th. Sixteen equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, International Business Machines presently has a consensus rating of "Moderate Buy" and an average price target of $265.90.

International Business Machines Company 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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