Te Ahumairangi Investment Management Ltd Makes New Investment in International Business Machines Corporation $IBM

Te Ahumairangi Investment Management Ltd purchased a new stake in International Business Machines Corporation (NYSE:IBM) during the second quarter, HoldingsChannel.com reports. The firm purchased 14,470 shares of the technology company’s stock, valued at approximately $4,069,000.

A number of other institutional investors and hedge funds have also made changes to their positions in IBM. VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in shares of International Business Machines by 424.6% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 260,740 shares of the technology company’s stock valued at $77,234,000 after acquiring an additional 211,040 shares during the period. Assetmark Inc. boosted its position in International Business Machines by 24.8% during the 1st quarter. Assetmark Inc. now owns 64,458 shares of the technology company’s stock worth $15,624,000 after purchasing an additional 12,791 shares during the period. GLOBALT Investments LLC GA increased its holdings in International Business Machines by 19.1% in the 4th quarter. GLOBALT Investments LLC GA now owns 18,288 shares of the technology company’s stock valued at $5,417,000 after purchasing an additional 2,930 shares in the last quarter. Rice Partnership LLC purchased a new position in International Business Machines in the fourth quarter valued at about $3,317,000. Finally, Sage Investment Advisers LLC purchased a new position in International Business Machines in the fourth quarter valued at about $4,101,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Citigroup decreased their target price on International Business Machines from $255.00 to $245.00 and set a “buy” rating for the company in a research report on Friday, July 24th. Wall Street Zen upgraded International Business Machines from a “sell” rating to a “hold” rating in a report on Saturday, August 29th. Craig Hallum assumed coverage on International Business Machines in a research report on Wednesday, August 19th. They set a “buy” rating on the stock. BMO Capital Markets decreased their price target on International Business Machines from $270.00 to $230.00 and set a “market perform” rating for the company in a report on Thursday, July 23rd. Finally, The Goldman Sachs Group set a $270.00 price objective on shares of International Business Machines in a research report on Thursday, July 23rd. Sixteen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $265.90.

International Business Machines Price Performance

Shares of IBM stock opened at $234.77 on Tuesday. The firm has a fifty day moving average of $240.81 and a two-hundred day moving average of $246.86. The firm has a market cap of $221.18 billion, a P/E ratio of 20.83, a P/E/G ratio of 2.24 and a beta of 0.71. International Business Machines Corporation has a 1-year low of $199.19 and a 1-year high of $332.46. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.79 and a quick ratio of 0.74.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.93. The business had revenue of $17.16 billion for 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 company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.80 EPS. As a group, research analysts anticipate that International Business Machines Corporation will post 12.33 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company 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 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 (DPR) is currently 59.98%.

Insider Buying and Selling

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 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 trade represents a 34.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.27% of the stock is currently owned by corporate insiders.

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.