Keebeck Wealth Management Buys Shares of 3,097 International Business Machines Corporation $IBM

Keebeck Wealth Management purchased a new stake in shares of International Business Machines Corporation (NYSE:IBM) in the second quarter, HoldingsChannel.com reports. The fund purchased 3,097 shares of the technology company’s stock, valued at approximately $871,000.

Several other institutional investors have also modified their holdings of IBM. BlackRock Inc. purchased a new position in International Business Machines in the 2nd quarter valued at approximately $21,586,659,000. Bank of New York Mellon Corp purchased a new stake in International Business Machines during the second quarter worth $2,606,782,000. Norges Bank purchased a new stake in International Business Machines during the fourth quarter worth $2,446,429,000. Capital World Investors grew its holdings in International Business Machines by 29.2% in 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 during the last quarter. Finally, Deutsche Bank AG acquired a new stake in International Business Machines in the second quarter valued at $960,839,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

NYSE:IBM opened at $234.87 on Friday. The firm has a market cap of $221.28 billion, a price-to-earnings ratio of 20.84, a price-to-earnings-growth ratio of 2.24 and a beta of 0.71. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.63. The company’s 50-day moving average is $241.67 and its two-hundred day moving average is $247.13. International Business Machines Corporation has a 12-month low of $199.19 and a 12-month high of $332.46.

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

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 10th will be paid a $1.69 dividend. 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 payout ratio is presently 59.98%.

Insider Buying and Selling

In other International Business Machines news, SVP Robert Thomas sold 25,000 shares of the business’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $230.32, for a total value of $5,758,000.00. Following the completion of the transaction, the senior vice president directly owned 47,800 shares in the company, valued at approximately $11,009,296. The trade was a 34.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on IBM shares. Stifel Nicolaus cut their price target on International Business Machines from $290.00 to $235.00 and set a “buy” rating for the company in a research note on Monday, July 20th. Weiss Ratings downgraded shares of International Business Machines from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, June 24th. HSBC set a $175.00 target price on shares of International Business Machines and gave the stock a “reduce” rating in a research report on Thursday, July 16th. Bank of America upped their price target on shares of International Business Machines from $315.00 to $330.00 and gave the company a “buy” rating in a report on Monday, July 6th. Finally, Citigroup lowered their price target on shares of International Business Machines from $255.00 to $245.00 and set a “buy” rating on the stock in a research report on Friday, July 24th. Sixteen analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $265.90.

International Business Machines 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.