Investors purchased shares of International Business Machines Corporation (NYSE:IBM) on weakness during trading on Wednesday. $137.46 million flowed into the stock on the tick-up and $109.10 million flowed out of the stock on the tick-down, for a money net flow of $28.36 million into the stock. Of all equities tracked, International Business Machines Corporation had the 23rd highest net in-flow for the day. International Business Machines Corporation traded down ($0.83) for the day and closed at $145.36
IBM has been the subject of several recent analyst reports. Pacific Crest initiated coverage on shares of International Business Machines Corporation in a report on Thursday, May 18th. They issued an “equal weight” rating and a $151.35 price target for the company. Stifel Nicolaus reissued a “buy” rating and issued a $182.00 price target on shares of International Business Machines Corporation in a report on Friday, July 21st. BMO Capital Markets cut their price target on shares of International Business Machines Corporation from $170.00 to $165.00 and set a “market perform” rating for the company in a report on Wednesday, April 19th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $160.00 price target (down previously from $165.00) on shares of International Business Machines Corporation in a report on Saturday, July 22nd. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $150.00 target price on shares of International Business Machines Corporation in a research note on Wednesday, April 19th. Seven investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $157.40.
The stock has a market capitalization of $135.28 billion, a price-to-earnings ratio of 12.05 and a beta of 0.97. The firm’s 50 day moving average is $151.77 and its 200-day moving average is $163.85.
International Business Machines Corporation (NYSE:IBM) last posted its quarterly earnings data on Tuesday, July 18th. The technology company reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.74 by $0.23. International Business Machines Corporation had a return on equity of 71.53% and a net margin of 14.58%. The company had revenue of $19.29 billion for the quarter, compared to the consensus estimate of $19.45 billion. During the same period in the previous year, the business earned $2.95 EPS. International Business Machines Corporation’s revenue for the quarter was down 4.7% compared to the same quarter last year. On average, analysts predict that International Business Machines Corporation will post $13.74 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, September 9th. Shareholders of record on Thursday, August 10th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $6.00 annualized dividend and a yield of 4.13%. International Business Machines Corporation’s dividend payout ratio is presently 49.88%.
In other news, Director James W. Owens purchased 1,718 shares of the stock in a transaction dated Tuesday, May 16th. The stock was acquired at an average cost of $153.19 per share, for a total transaction of $263,180.42. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.23% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the stock. Herndon Capital Management LLC increased its stake in shares of International Business Machines Corporation by 39.0% in the second quarter. Herndon Capital Management LLC now owns 695 shares of the technology company’s stock worth $107,000 after buying an additional 195 shares during the period. Thomas J. Herzfeld Advisors Inc. purchased a new stake in shares of International Business Machines Corporation during the fourth quarter worth $117,000. Edge Wealth Management LLC increased its stake in shares of International Business Machines Corporation by 5.6% in the second quarter. Edge Wealth Management LLC now owns 760 shares of the technology company’s stock worth $117,000 after buying an additional 40 shares during the period. Jackson Grant Investment Advisers Inc. increased its stake in shares of International Business Machines Corporation by 0.8% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 737 shares of the technology company’s stock worth $122,000 after buying an additional 6 shares during the period. Finally, Peddock Capital Advisors LLC increased its stake in shares of International Business Machines Corporation by 7.3% in the second quarter. Peddock Capital Advisors LLC now owns 912 shares of the technology company’s stock worth $140,000 after buying an additional 62 shares during the period. Institutional investors and hedge funds own 58.60% of the company’s stock.
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International Business Machines Corporation Company Profile
International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.
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