Uptick Partners LLC Acquires Shares of 3,724 International Business Machines Corporation $IBM

Uptick Partners LLC acquired a new stake in shares of International Business Machines Corporation (NYSE:IBM) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 3,724 shares of the technology company’s stock, valued at approximately $1,047,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. bought a new stake in International Business Machines in the 2nd quarter valued at $21,586,659,000. Bank of New York Mellon Corp purchased a new stake in International Business Machines in the 2nd quarter worth $2,606,782,000. Norges Bank bought a new position in shares of International Business Machines during the 4th quarter valued at about $2,446,429,000. Capital World Investors grew its position in shares of International Business Machines by 29.2% during the fourth quarter. Capital World Investors now owns 22,021,912 shares of the technology company’s stock valued at $6,523,720,000 after purchasing an additional 4,976,756 shares in the last quarter. Finally, Deutsche Bank AG purchased a new stake in shares of International Business Machines in the second quarter worth about $960,839,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

NYSE:IBM opened at $234.87 on Friday. The firm has a market capitalization of $221.28 billion, a PE ratio of 20.84, a PEG ratio of 2.24 and a beta of 0.71. The stock’s fifty day moving average is $241.67 and its 200 day moving average is $247.13. International Business Machines Corporation has a fifty-two week low of $199.19 and a fifty-two week high of $332.46. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.74 and a current ratio of 0.79.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 22nd. The technology company reported $2.93 EPS for the quarter, hitting the consensus estimate of $2.93. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. The company had revenue of $17.16 billion during the quarter, compared to analyst estimates of $17.46 billion. During the same period in the previous year, the firm earned $2.80 earnings per share. International Business Machines’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, sell-side analysts anticipate that International Business Machines Corporation will post 12.33 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 10th will be issued a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, August 10th. International Business Machines’s dividend payout ratio is presently 59.98%.

Insiders Place Their Bets

In related news, SVP Robert Thomas sold 25,000 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $230.32, for a total value of $5,758,000.00. Following the sale, the senior vice president directly owned 47,800 shares of the company’s stock, valued at $11,009,296. This represents a 34.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.27% of the stock is owned by company insiders.

Analysts Set New Price Targets

IBM has been the subject of several research analyst reports. Jefferies Financial Group cut their price target on International Business Machines from $320.00 to $260.00 and set a “buy” rating for the company in a report on Tuesday, July 21st. Robert W. Baird started coverage on International Business Machines in a research report on Tuesday, July 21st. They set a “neutral” rating and a $230.00 target price for the company. Stifel Nicolaus cut their target price on shares of International Business Machines from $290.00 to $235.00 and set a “buy” rating for the company in a report on Monday, July 20th. Wall Street Zen upgraded shares of International Business Machines from a “sell” rating to a “hold” rating in a research report on Saturday, August 29th. Finally, KeyCorp downgraded shares of International Business Machines to a “sector weight” rating in a research note on Tuesday, June 23rd. Sixteen investment 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’s stock. According to MarketBeat.com, International Business Machines currently has a consensus rating of “Moderate Buy” and a consensus price target of $265.90.

About International Business Machines

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.