5,910 Shares in International Business Machines Corporation $IBM Acquired by Portfolio Design Labs LLC

Portfolio Design Labs LLC bought a new position in International Business Machines Corporation (NYSE:IBM) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 5,910 shares of the technology company’s stock, valued at approximately $1,662,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Basepoint Wealth LLC bought a new stake in shares of International Business Machines in the fourth quarter worth $25,000. Cornerstone Financial Management LLC purchased a new position in International Business Machines in the fourth quarter worth about $28,000. Harborfront Financial Group LLC bought a new stake in shares of International Business Machines during the 2nd quarter valued at about $27,000. Hara Capital LLC purchased a new stake in shares of International Business Machines during the 2nd quarter valued at about $28,000. Finally, SWAN Capital LLC bought a new position in shares of International Business Machines in the 3rd quarter worth approximately $28,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on IBM shares. Piper Sandler raised shares of International Business Machines to an “overweight” rating in a report on Tuesday, June 23rd. JPMorgan Chase & Co. decreased their price target on shares of International Business Machines from $291.00 to $250.00 and set an “overweight” rating on the stock in a research report on Friday, July 17th. The Goldman Sachs Group set a $270.00 price target on shares of International Business Machines in a research note on Thursday, July 23rd. Stifel Nicolaus cut their price objective on shares of International Business Machines from $290.00 to $235.00 and set a “buy” rating for the company in a research report on Monday, July 20th. Finally, Citigroup reduced their price objective on International Business Machines from $255.00 to $245.00 and set a “buy” rating for the company in a research note on Friday, July 24th. Sixteen investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, International Business Machines currently has an average rating of “Moderate Buy” and a consensus price target of $265.90.

International Business Machines Stock Performance

NYSE IBM opened at $234.87 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.63. International Business Machines Corporation has a twelve month low of $199.19 and a twelve month high of $332.46. The business has a 50-day moving average price of $241.67 and a 200-day moving average price of $247.13. 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.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.93. International Business Machines had a return on equity of 35.65% and a net margin of 15.52%.The company had revenue of $17.16 billion for the quarter, compared to the consensus estimate of $17.46 billion. During the same quarter last year, the company earned $2.80 EPS. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, equities research analysts predict that International Business Machines Corporation will post 12.33 EPS for the current fiscal year.

International Business Machines Announces Dividend

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

Insider Activity at International Business Machines

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

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.