Tocqueville Asset Management L.P. Invests $53.09 Million in International Business Machines Corporation $IBM

Tocqueville Asset Management L.P. bought a new stake in International Business Machines Corporation (NYSE:IBM) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 188,776 shares of the technology company’s stock, valued at approximately $53,086,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IBM. one8zero8 LLC purchased a new stake in International Business Machines in the second quarter worth $1,301,000. Addison Advisors LLC bought a new stake in shares of International Business Machines during the 2nd quarter valued at $155,000. West Family Investments Inc. bought a new stake in shares of International Business Machines during the 2nd quarter valued at $1,241,000. Bantamac Capital LLC purchased a new stake in shares of International Business Machines in the 2nd quarter worth about $787,000. Finally, Tacita Capital Inc bought a new position in shares of International Business Machines in the 2nd quarter worth about $53,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

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 value 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 $11,009,296. The trade was a 34.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.27% of the stock is currently owned by insiders.

International Business Machines Stock Up 0.1%

International Business Machines stock opened at $234.87 on Friday. International Business Machines Corporation has a 12 month low of $199.19 and a 12 month high of $332.46. The stock has a fifty day simple moving average of $241.67 and a two-hundred day simple moving average of $247.13. 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 firm has a market cap of $221.28 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 2.24 and a beta of 0.71.

International Business Machines (NYSE:IBM) last released 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 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 analysts’ expectations of $17.46 billion. During the same period last year, the firm posted $2.80 earnings per share. International Business Machines’s revenue was up 1.1% compared to the same quarter last year. Equities 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. Shareholders of record on Monday, August 10th will be paid a dividend of $1.69 per share. The ex-dividend date is Monday, August 10th. This represents a $6.76 annualized dividend and a yield of 2.9%. International Business Machines’s dividend payout ratio is currently 59.98%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Needham & Company LLC initiated coverage on shares of International Business Machines in a research report on Wednesday, June 3rd. They set a “buy” rating for the company. Bank of America raised their target price on shares of International Business Machines from $315.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Morgan Stanley lowered their target price on shares of International Business Machines from $293.00 to $190.00 and set an “equal weight” rating for the company in a report on Thursday, July 23rd. Royal Bank Of Canada reissued an “outperform” rating and issued a $270.00 price target on shares of International Business Machines in a research report on Tuesday, July 21st. Finally, Oppenheimer downgraded International Business Machines from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 15th. Sixteen research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, International Business Machines currently has a consensus rating of “Moderate Buy” and an average target price of $265.90.

About International Business Machines

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.