2,183 Shares in International Business Machines Corporation $IBM Purchased by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of International Business Machines Corporation (NYSE:IBM) in the 2nd quarter, HoldingsChannel reports. The firm acquired 2,183 shares of the technology company’s stock, valued at approximately $614,000.

A number of other hedge funds have also made changes to their positions in IBM. August Group Capital Ltd purchased a new position in shares of International Business Machines in the second quarter valued at approximately $248,000. E Fund Management Co. Ltd. purchased a new stake in shares of International Business Machines during the second quarter worth approximately $8,997,000. Westport Asset Management Inc. purchased a new stake in shares of International Business Machines during the second quarter worth approximately $2,812,000. Notis McConarty Edward acquired a new position in International Business Machines in the 2nd quarter valued at $225,000. Finally, Asahi Life Asset Management CO. LTD. purchased a new position in International Business Machines in the 2nd quarter valued at $2,122,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

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 sale, the senior vice president owned 47,800 shares of the company’s stock, valued at approximately $11,009,296. The trade was a 34.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is owned by corporate insiders.

International Business Machines Stock Up 0.1%

Shares of IBM opened at $234.87 on Friday. International Business Machines Corporation has a 52-week low of $199.19 and a 52-week high of $332.46. The company 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 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 quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.63.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share for the quarter, meeting 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 firm had revenue of $17.16 billion for the quarter, compared to analysts’ expectations of $17.46 billion. During the same quarter in the previous year, the company posted $2.80 EPS. The company’s revenue was up 1.1% compared to the same quarter last year. As a group, equities analysts forecast that International Business Machines Corporation will post 12.33 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 10th will be paid a $1.69 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $6.76 annualized dividend and a dividend yield of 2.9%. International Business Machines’s dividend payout ratio is 59.98%.

Analyst Ratings Changes

IBM has been the topic of several recent research reports. Morgan Stanley lowered their target price on shares of International Business Machines from $293.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 23rd. KeyCorp downgraded shares of International Business Machines to a “sector weight” rating in a research note on Tuesday, June 23rd. Citigroup lowered their price target on shares of International Business Machines from $255.00 to $245.00 and set a “buy” rating on the stock in a research report on Friday, July 24th. Stifel Nicolaus dropped 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 research note on Monday, July 20th. Finally, HSBC set a $175.00 price objective on shares of International Business Machines and gave the company a “reduce” rating in a report on Thursday, July 16th. 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 stock. Based on data from MarketBeat.com, International Business Machines presently has a consensus rating of “Moderate Buy” and a consensus price target 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.