International Business Machines Co. (NYSE:IBM - Get Rating) Director David N. Farr purchased 1,000 shares of the company's stock in a transaction that occurred on Thursday, September 15th. The stock was bought at an average cost of $125.00 per share, with a total value of $125,000.00. Following the purchase, the director now owns 1,000 shares of the company's stock, valued at $125,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
International Business Machines Price Performance
NYSE IBM traded up $1.78 during trading hours on Friday, hitting $127.27. The company had a trading volume of 9,820,562 shares, compared to its average volume of 5,179,028. International Business Machines Co. has a 52 week low of $114.56 and a 52 week high of $146.00. The firm has a 50 day simple moving average of $132.16 and a 200 day simple moving average of $132.87. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.82 and a current ratio of 0.88. The firm has a market capitalization of $114.95 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 1.93 and a beta of 0.84.
International Business Machines (NYSE:IBM - Get Rating) last issued its earnings results on Monday, July 18th. The technology company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.29 by $0.02. International Business Machines had a return on equity of 43.52% and a net margin of 8.72%. The business had revenue of $15.54 billion during the quarter, compared to the consensus estimate of $15.18 billion. During the same quarter last year, the company earned $2.33 EPS. The firm's revenue was up 9.3% compared to the same quarter last year. Equities research analysts expect that International Business Machines Co. will post 9.47 earnings per share for the current year.
International Business Machines Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Saturday, September 10th. Stockholders of record on Wednesday, August 10th were given a dividend of $1.65 per share. The ex-dividend date was Tuesday, August 9th. This represents a $6.60 dividend on an annualized basis and a dividend yield of 5.19%. International Business Machines's dividend payout ratio (DPR) is presently 107.14%.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on IBM. BMO Capital Markets lowered their price objective on International Business Machines from $152.00 to $148.00 in a research note on Tuesday, July 19th. Morgan Stanley reduced their target price on International Business Machines from $157.00 to $155.00 and set an "overweight" rating on the stock in a report on Tuesday, July 19th. Credit Suisse Group increased their price target on International Business Machines from $156.00 to $163.00 and gave the stock an "outperform" rating in a report on Wednesday, August 17th. StockNews.com lowered International Business Machines from a "buy" rating to a "hold" rating in a research report on Wednesday, August 31st. Finally, Societe Generale lowered their target price on International Business Machines to $129.00 in a research report on Tuesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $145.18.
Institutional Trading of International Business Machines
Large investors have recently modified their holdings of the business. Federated Hermes Inc. raised its holdings in shares of International Business Machines by 0.3% during the 2nd quarter. Federated Hermes Inc. now owns 348,950 shares of the technology company's stock valued at $49,268,000 after buying an additional 1,057 shares in the last quarter. Private Trust Co. NA raised its holdings in shares of International Business Machines by 11.9% during the 2nd quarter. Private Trust Co. NA now owns 9,242 shares of the technology company's stock valued at $1,305,000 after buying an additional 986 shares in the last quarter. Brown Advisory Inc. raised its holdings in shares of International Business Machines by 8.1% during the 2nd quarter. Brown Advisory Inc. now owns 243,010 shares of the technology company's stock valued at $34,310,000 after buying an additional 18,275 shares in the last quarter. B. Riley Wealth Management Inc. raised its holdings in shares of International Business Machines by 115.7% during the 2nd quarter. B. Riley Wealth Management Inc. now owns 22,593 shares of the technology company's stock valued at $3,190,000 after buying an additional 12,120 shares in the last quarter. Finally, Gibson Wealth Advisors LLC raised its holdings in shares of International Business Machines by 102.7% during the 2nd quarter. Gibson Wealth Advisors LLC now owns 1,500 shares of the technology company's stock valued at $212,000 after buying an additional 760 shares in the last quarter. Institutional investors own 55.52% of the company's stock.
International Business Machines Company Profile
International Business Machines Corporation provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions, such as Red Hat, an enterprise open-source solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.
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