HB Wealth Management LLC Buys 2,877 Shares of International Business Machines Co. (NYSE:IBM)

HB Wealth Management LLC boosted its holdings in shares of International Business Machines Co. (NYSE:IBMGet Rating) by 6.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 48,314 shares of the technology company’s stock after purchasing an additional 2,877 shares during the period. HB Wealth Management LLC’s holdings in International Business Machines were worth $6,821,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of International Business Machines by 1.9% during the first quarter. Vanguard Group Inc. now owns 77,002,099 shares of the technology company’s stock worth $10,011,813,000 after buying an additional 1,448,444 shares in the last quarter. BlackRock Inc. increased its holdings in shares of International Business Machines by 1.7% during the first quarter. BlackRock Inc. now owns 66,591,742 shares of the technology company’s stock worth $8,658,261,000 after buying an additional 1,139,368 shares in the last quarter. State Street Corp increased its holdings in shares of International Business Machines by 1.3% during the first quarter. State Street Corp now owns 53,755,675 shares of the technology company’s stock worth $6,989,313,000 after buying an additional 706,994 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of International Business Machines by 7.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 16,297,545 shares of the technology company’s stock worth $2,119,007,000 after buying an additional 1,105,170 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of International Business Machines during the fourth quarter worth $1,025,028,000. 55.52% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director David N. Farr bought 1,000 shares of the company’s stock in a transaction on Thursday, September 15th. The shares were purchased at an average price of $125.00 per share, with a total value of $125,000.00. Following the transaction, the director now directly owns 1,000 shares in the company, valued at $125,000. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.04% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Credit Suisse Group increased their price objective on International Business Machines from $156.00 to $163.00 and gave the company an “outperform” rating in a report on Wednesday, August 17th. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, August 31st. BMO Capital Markets decreased their price target on International Business Machines from $152.00 to $148.00 in a report on Tuesday, July 19th. Morgan Stanley decreased their price target on International Business Machines from $157.00 to $155.00 and set an “overweight” rating for the company in a report on Tuesday, July 19th. Finally, Societe Generale decreased their price target on International Business Machines to $129.00 in a report on Tuesday, September 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $145.18.

International Business Machines Stock Down 2.0 %

NYSE IBM traded down $2.46 during trading hours on Friday, hitting $122.85. The company’s stock had a trading volume of 74,863 shares, compared to its average volume of 3,566,598. International Business Machines Co. has a 52 week low of $114.56 and a 52 week high of $146.00. The company has a market capitalization of $110.96 billion, a PE ratio of 20.06, a price-to-earnings-growth ratio of 1.91 and a beta of 0.84. The company has a current ratio of 0.88, a quick ratio of 0.82 and a debt-to-equity ratio of 2.28. The company’s 50-day simple moving average is $130.85 and its two-hundred day simple moving average is $132.93.

International Business Machines (NYSE:IBMGet Rating) last announced its quarterly earnings results on Monday, July 18th. The technology company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.02. International Business Machines had a net margin of 8.72% and a return on equity of 43.52%. The business had revenue of $15.54 billion for the quarter, compared to analysts’ expectations of $15.18 billion. During the same quarter last year, the firm earned $2.33 EPS. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. Research analysts anticipate that International Business Machines Co. will post 9.39 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, September 10th. Shareholders 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 annualized dividend and a dividend yield of 5.37%. International Business Machines’s dividend payout ratio is currently 107.14%.

About International Business Machines

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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.

See Also

Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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