Northcape Wealth Management LLC Buys New Position in International Business Machines Corporation $IBM

Northcape Wealth Management LLC bought a new stake in International Business Machines Corporation (NYSE:IBM) during the second quarter, Holdings Channel.com reports. The fund bought 18,471 shares of the technology company’s stock, valued at approximately $5,194,000. International Business Machines makes up about 1.4% of Northcape Wealth Management LLC’s portfolio, making the stock its 20th largest position.

Several other institutional investors also recently added to or reduced their stakes in IBM. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its position in shares of International Business Machines by 424.6% during 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 in the last quarter. Assetmark Inc. raised its position in International Business Machines by 24.8% in the first 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 in the last quarter. GLOBALT Investments LLC GA raised its position in International Business Machines by 19.1% in the fourth quarter. GLOBALT Investments LLC GA now owns 18,288 shares of the technology company’s stock worth $5,417,000 after purchasing an additional 2,930 shares in the last quarter. Rice Partnership LLC bought a new position in International Business Machines during the fourth quarter worth about $3,317,000. Finally, Sage Investment Advisers LLC acquired a new stake in International Business Machines during the fourth quarter valued at approximately $4,101,000. 58.96% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Robert Thomas sold 25,000 shares of International Business Machines stock in a transaction dated 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 directly owned 47,800 shares of the company’s stock, valued at $11,009,296. The trade was a 34.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.27% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Craig Hallum assumed coverage on International Business Machines in a research note on Wednesday, August 19th. They issued a “buy” rating on the stock. Needham & Company LLC assumed coverage on International Business Machines in a research report on Wednesday, June 3rd. They set a “buy” rating for the company. Piper Sandler upgraded International Business Machines to an “overweight” rating in a research report on Tuesday, June 23rd. Robert W. Baird initiated coverage on International Business Machines in a research note on Tuesday, July 21st. They set a “neutral” rating and a $230.00 price objective for the company. Finally, Roth Capital reissued a “buy” rating on shares of International Business Machines in a report on Wednesday, June 3rd. Sixteen research 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $265.90.

International Business Machines Stock Performance

NYSE:IBM opened at $234.87 on Friday. The stock has a market capitalization of $221.28 billion, a P/E 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. International Business Machines Corporation has a 1 year low of $199.19 and a 1 year high of $332.46. The firm has a 50 day moving average of $241.67 and a 200-day moving average of $247.13.

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, hitting analysts’ consensus estimates of $2.93. International Business Machines had a return on equity of 35.65% and a net margin of 15.52%.The business had revenue of $17.16 billion for the quarter, compared to analyst estimates of $17.46 billion. During the same period in the prior year, the company earned $2.80 EPS. International Business Machines’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, sell-side analysts anticipate that International Business Machines Corporation will post 12.33 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced 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 is Monday, August 10th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 2.9%. International Business Machines’s dividend payout ratio (DPR) is 59.98%.

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.