David N. Farr Purchases 1,100 Shares of IBM (IBM) Stock

IBM (NYSE:IBM) Director David N. Farr acquired 1,100 shares of IBM stock in a transaction on Friday, June 22nd. The shares were purchased at an average price of $141.46 per share, for a total transaction of $155,606.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of NYSE IBM opened at $124.84 on Thursday. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 1.81. The firm has a market cap of $111.89 billion, a price-to-earnings ratio of 9.05, a P/E/G ratio of 1.79 and a beta of 1.18. IBM has a 12-month low of $114.09 and a 12-month high of $171.13.

IBM (NYSE:IBM) last announced its earnings results on Tuesday, October 16th. The technology company reported $3.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.40 by $0.02. The business had revenue of $18.76 billion for the quarter, compared to analysts’ expectations of $19.04 billion. IBM had a return on equity of 69.98% and a net margin of 7.12%. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.30 EPS. As a group, equities research analysts expect that IBM will post 13.81 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 9th will be given a dividend of $1.57 per share. The ex-dividend date is Thursday, November 8th. This represents a $6.28 annualized dividend and a yield of 5.03%. IBM’s dividend payout ratio (DPR) is presently 45.51%.

IBM announced that its board has authorized a share buyback program on Tuesday, October 30th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the technology company to buy up to 3.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

IBM has been the topic of several research reports. Morgan Stanley reduced their price objective on IBM from $198.00 to $185.00 and set a “$149.24” rating on the stock in a report on Thursday, July 19th. JPMorgan Chase & Co. restated a “$149.24” rating and set a $157.00 price objective on shares of IBM in a report on Thursday, July 19th. BMO Capital Markets reduced their price objective on IBM from $175.00 to $172.00 and set a “$149.24” rating on the stock in a report on Thursday, July 19th. Zacks Investment Research upgraded IBM from a “hold” rating to a “buy” rating and set a $166.00 price objective on the stock in a report on Tuesday, September 18th. Finally, Bank of America restated a “buy” rating and set a $200.00 price objective on shares of IBM in a report on Thursday, July 19th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $165.02.

Institutional investors have recently bought and sold shares of the company. Swedbank boosted its position in shares of IBM by 214.6% in the 3rd quarter. Swedbank now owns 1,123,724 shares of the technology company’s stock worth $169,918,000 after purchasing an additional 766,478 shares in the last quarter. Coastline Trust Co boosted its position in shares of IBM by 14.7% in the 2nd quarter. Coastline Trust Co now owns 19,353 shares of the technology company’s stock worth $2,704,000 after purchasing an additional 2,475 shares in the last quarter. Schroder Investment Management Group boosted its position in shares of IBM by 24.1% in the 2nd quarter. Schroder Investment Management Group now owns 1,854,109 shares of the technology company’s stock worth $259,649,000 after purchasing an additional 359,868 shares in the last quarter. Adams Asset Advisors LLC boosted its position in shares of IBM by 14.0% in the 3rd quarter. Adams Asset Advisors LLC now owns 48,705 shares of the technology company’s stock worth $7,364,000 after purchasing an additional 5,970 shares in the last quarter. Finally, Viking Fund Management LLC boosted its position in shares of IBM by 3.8% in the 3rd quarter. Viking Fund Management LLC now owns 27,000 shares of the technology company’s stock worth $4,083,000 after purchasing an additional 1,000 shares in the last quarter. 55.33% of the stock is owned by hedge funds and other institutional investors.

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About IBM

International Business Machines Corporation operates as an integrated technology and services company worldwide. Its Cognitive Solutions segment offers Watson, a cognitive computing platform that interacts in natural language, processes big data, and learns from interactions with people and computers.

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