United Bank Invests $763,000 in International Business Machines Corporation $IBM

United Bank purchased a new position in shares of International Business Machines Corporation (NYSE:IBM) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 2,713 shares of the technology company’s stock, valued at approximately $763,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Uptick Partners LLC purchased a new stake in International Business Machines during the 2nd quarter valued at approximately $1,047,000. CM Wealth Advisors LLC purchased a new position in shares of International Business Machines in the 2nd quarter valued at approximately $720,000. Csenge Advisory Group acquired a new position in shares of International Business Machines in the second quarter valued at approximately $3,756,000. Planning Directions Inc. acquired a new position in shares of International Business Machines in the second quarter valued at approximately $261,000. Finally, AssuredPartners Investment Advisors LLC purchased a new stake in shares of International Business Machines during the second quarter worth approximately $1,660,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Up 0.1%

NYSE:IBM opened at $234.87 on Friday. The stock has a fifty day moving average price of $241.67 and a two-hundred day moving average price of $247.13. The stock has a market capitalization of $221.28 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 2.24 and a beta of 0.71. 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 Corporation has a 1 year low of $199.19 and a 1 year high of $332.46.

International Business Machines (NYSE:IBM) last issued its earnings results 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 for the quarter, compared to analyst estimates of $17.46 billion. During the same period in the previous year, the firm earned $2.80 EPS. The business’s revenue was up 1.1% on a year-over-year basis. As a group, sell-side analysts anticipate that International Business Machines Corporation will post 12.33 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 10th will be issued a $1.69 dividend. 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 59.98%.

Analyst Ratings Changes

IBM has been the topic of a number of analyst reports. Stifel Nicolaus lowered their price objective on shares of International Business Machines from $290.00 to $235.00 and set a “buy” rating on the stock in a research report on Monday, July 20th. HSBC set a $175.00 target price on shares of International Business Machines and gave the stock a “reduce” rating in a research note on Thursday, July 16th. Robert W. Baird began coverage on shares of International Business Machines in a research note on Tuesday, July 21st. They set a “neutral” rating and a $230.00 price target on the stock. Sanford C. Bernstein reissued a “market perform” rating on shares of International Business Machines in a report on Thursday, July 16th. Finally, Weiss Ratings downgraded shares of International Business Machines from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, June 24th. Sixteen analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, International Business Machines has a consensus rating of “Moderate Buy” and a consensus target price of $265.90.

Insider Activity

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

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.