OVERSEA CHINESE BANKING Corp Ltd Acquires Shares of 14,276 International Business Machines Corporation $IBM

OVERSEA CHINESE BANKING Corp Ltd bought a new position in International Business Machines Corporation (NYSE:IBM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 14,276 shares of the technology company’s stock, valued at approximately $3,986,000.

Several other institutional investors and hedge funds have also recently modified their holdings of IBM. BlackRock Inc. bought a new stake in International Business Machines during the 2nd quarter valued at about $21,586,659,000. State Street Corp lifted its stake in shares of International Business Machines by 1.0% in the fourth quarter. State Street Corp now owns 54,996,293 shares of the technology company’s stock worth $16,290,452,000 after buying an additional 518,321 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of International Business Machines by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 22,605,083 shares of the technology company’s stock worth $6,679,105,000 after buying an additional 336,069 shares in the last quarter. Capital World Investors grew its holdings in shares of International Business Machines by 29.2% during the fourth quarter. Capital World Investors now owns 22,021,912 shares of the technology company’s stock valued at $6,523,720,000 after buying an additional 4,976,756 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of International Business Machines by 7.0% during the first quarter. Bank of America Corp DE now owns 16,063,653 shares of the technology company’s stock valued at $3,893,669,000 after buying an additional 1,049,602 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling at International Business Machines

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

International Business Machines Trading Up 0.1%

NYSE:IBM opened at $234.87 on Friday. The company has a market cap 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 current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.63. The company has a 50 day simple moving average of $241.67 and a two-hundred day simple moving average of $247.13. International Business Machines Corporation has a 12 month low of $199.19 and a 12 month high of $332.46.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, July 22nd. The technology company reported $2.93 EPS for the quarter, meeting the consensus estimate of $2.93. The firm had revenue of $17.16 billion during the quarter, compared to analyst estimates of $17.46 billion. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.80 EPS. Research analysts forecast that International Business Machines Corporation will post 12.33 earnings per share for the current 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 given a $1.69 dividend. 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 (DPR) is presently 59.98%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on IBM shares. Stifel Nicolaus decreased their price objective on shares of International Business Machines from $290.00 to $235.00 and set a “buy” rating for the company in a report on Monday, July 20th. Bank of America lifted their target price on International Business Machines from $315.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, July 6th. Jefferies Financial Group decreased their price target on International Business Machines from $320.00 to $260.00 and set a “buy” rating for the company in a research note on Tuesday, July 21st. Robert W. Baird initiated coverage on International Business Machines in a report on Tuesday, July 21st. They set a “neutral” rating and a $230.00 price target on the stock. Finally, Susquehanna increased their price objective on International Business Machines from $225.00 to $235.00 and gave the company a “neutral” rating in a research report on Monday. Sixteen 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $265.90.

International Business Machines 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.