631,665 Shares in International Business Machines Corporation $IBM Bought by Korea Investment CORP

Korea Investment CORP acquired a new stake in shares of International Business Machines Corporation (NYSE:IBM) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 631,665 shares of the technology company’s stock, valued at approximately $177,631,000. Korea Investment CORP owned about 0.07% of International Business Machines as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Basepoint Wealth LLC bought a new stake in shares of International Business Machines during the 4th quarter valued at about $25,000. Portus Wealth Advisors LLC bought a new position in shares of International Business Machines in the 1st quarter worth approximately $26,000. Harborfront Financial Group LLC purchased a new position in shares of International Business Machines in the second quarter worth approximately $27,000. Cornerstone Financial Management LLC bought a new stake in International Business Machines during the fourth quarter valued at approximately $28,000. Finally, Hara Capital LLC bought a new stake in International Business Machines during the second quarter valued at approximately $28,000. Institutional investors own 58.96% of the company’s stock.

Insider Activity at International Business Machines

In other news, SVP Robert Thomas sold 25,000 shares of the company’s stock in a transaction dated 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 owned 47,800 shares of the company’s stock, valued at $11,009,296. This represents a 34.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.27% of the stock is owned by insiders.

International Business Machines Stock Performance

IBM opened at $234.87 on Monday. The company has a 50 day simple moving average of $241.67 and a two-hundred day simple moving average of $247.02. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.79 and a quick ratio of 0.74. The firm has a market cap of $221.28 billion, a P/E ratio of 20.84, a PEG ratio of 2.24 and a beta of 0.71. International Business Machines Corporation has a 1-year low of $199.19 and a 1-year high of $332.46.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, July 22nd. The technology company reported $2.93 EPS for the quarter, meeting 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 firm had revenue of $17.16 billion for the quarter, compared to the consensus estimate of $17.46 billion. During the same period last year, the firm earned $2.80 EPS. The company’s revenue was up 1.1% on a year-over-year basis. Equities analysts forecast that International Business Machines Corporation will post 12.33 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have weighed in on IBM shares. Barclays decreased their price target on shares of International Business Machines from $288.00 to $262.00 and set an “overweight” rating on the stock in a research report on Thursday, July 23rd. Needham & Company LLC started coverage on International Business Machines in a research note on Wednesday, June 3rd. They issued a “buy” rating for the company. JPMorgan Chase & Co. decreased their target price on International Business Machines from $291.00 to $250.00 and set an “overweight” rating on the stock in a report on Friday, July 17th. Robert W. Baird assumed coverage on International Business Machines in a research report on Tuesday, July 21st. They set a “neutral” rating and a $230.00 target price on the stock. Finally, Roth Capital reissued a “buy” rating on shares of International Business Machines in a report on Wednesday, June 3rd. Sixteen equities research 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.com, International Business Machines has a consensus rating of “Moderate Buy” and an average target price of $265.90.

International Business Machines Company 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.