Kilter Group LLC Buys New Position in International Business Machines Corporation $IBM

Kilter Group LLC purchased a new position in shares of International Business Machines Corporation (NYSE:IBM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 6,514 shares of the technology company’s stock, valued at approximately $1,832,000. International Business Machines accounts for approximately 0.7% of Kilter Group LLC’s holdings, making the stock its 8th largest holding.

Several other large investors have also modified their holdings of the company. Basepoint Wealth LLC acquired a new position in shares of International Business Machines in the 4th quarter valued at $25,000. Cornerstone Financial Management LLC acquired a new stake in International Business Machines during the 4th quarter worth $28,000. Harborfront Financial Group LLC purchased a new position in International Business Machines during the 2nd quarter worth $27,000. Hara Capital LLC purchased a new position in International Business Machines during the 2nd quarter worth $28,000. Finally, SWAN Capital LLC acquired a new position in International Business Machines in the third quarter valued at $28,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Up 0.1%

IBM stock opened at $234.87 on Friday. International Business Machines Corporation has a one year low of $199.19 and a one year high of $332.46. The stock has a market capitalization of $221.28 billion, a PE ratio of 20.84, a price-to-earnings-growth 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. The company has a fifty day moving average of $241.67 and a 200-day moving average of $247.13.

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

International Business Machines Dividend Announcement

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

Insiders Place Their Bets

In other International Business Machines news, SVP Robert Thomas sold 25,000 shares of the stock in a transaction on 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 in the company, valued at approximately $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 can be accessed through this link. 0.27% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on IBM. Susquehanna upped their target price on shares of International Business Machines from $225.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, August 31st. JPMorgan Chase & Co. lowered their price target 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. Sanford C. Bernstein restated a “market perform” rating on shares of International Business Machines in a research report on Thursday, July 16th. Robert W. Baird initiated coverage on International Business Machines in a research report on Tuesday, July 21st. They set a “neutral” rating and a $230.00 price objective for the company. Finally, The Goldman Sachs Group set a $270.00 price objective on International Business Machines in a research report on Thursday, July 23rd. Sixteen equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.