TRB Wealth Management LLC Purchases New Shares in International Business Machines Corporation $IBM

Key Points

• TRB Wealth Management acquired 4,713 IBM shares during the second quarter, valued at approximately $1.325 million. Institutional investors collectively own 58.96% of IBM’s outstanding stock.
• IBM reported quarterly EPS of $2.93, matching estimates, while revenue of $17.16 billion fell short of the $17.46 billion consensus but increased 1.1% year over year.
• IBM declared a quarterly dividend of $1.69 per share, equivalent to an annualized $6.76 payout and a 2.9% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $265.90.

TRB Wealth Management LLC 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 13F filing with the Securities and Exchange Commission. The fund acquired 4,713 shares of the technology company's stock, valued at approximately $1,325,000.

A number of other hedge funds also recently bought and sold shares of IBM. Basepoint Wealth LLC purchased a new position in shares of International Business Machines in the fourth quarter worth approximately $25,000. Portus Wealth Advisors LLC acquired a new position in International Business Machines in the 1st quarter worth approximately $26,000. Harborfront Financial Group LLC purchased a new position in International Business Machines during the 2nd quarter worth approximately $27,000. Cornerstone Financial Management LLC purchased a new position in International Business Machines during the 4th quarter worth approximately $28,000. Finally, Hara Capital LLC acquired a new stake in International Business Machines during the 2nd quarter valued at $28,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Price Performance

IBM opened at $234.87 on Monday. The stock has a fifty day moving average price of $241.67 and a 200 day moving average price of $247.02. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.63. 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.

International Business Machines (NYSE:IBM - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share for the quarter, hitting 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 return on equity of 35.65% and a net margin of 15.52%.The business's revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.80 EPS. Analysts forecast 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 given a dividend of $1.69 per share. 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 (DPR) is presently 59.98%.

Wall Street Analyst Weigh In

IBM has been the subject of several recent analyst reports. Bank of America raised their target price on International Business Machines from $315.00 to $330.00 and gave the stock a "buy" rating in a research report on Monday, July 6th. Argus reduced their price objective on 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. BMO Capital Markets decreased their price objective on International Business Machines from $270.00 to $230.00 and set a "market perform" rating for the company in a research report on Thursday, July 23rd. Needham & Company LLC began coverage on International Business Machines in a research note on Wednesday, June 3rd. They set a "buy" rating on the stock. Finally, Stifel Nicolaus dropped their target price on International Business Machines from $290.00 to $235.00 and set a "buy" rating on the stock in a report on Monday, July 20th. Sixteen analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, International Business Machines has an average rating of "Moderate Buy" and an average price target of $265.90.

Insider Transactions at International Business Machines

In other news, SVP Robert Thomas sold 25,000 shares of the stock in a transaction 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 transaction, the senior vice president owned 47,800 shares in the company, valued at $11,009,296. This represents a 34.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.27% of the stock is owned by company insiders.

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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