Westshore Wealth LLC Takes $494,000 Position in International Business Machines Co. (NYSE:IBM)

Westshore Wealth LLC acquired a new stake in shares of International Business Machines Co. (NYSE:IBMGet Rating) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,500 shares of the technology company’s stock, valued at approximately $494,000.

A number of other hedge funds also recently bought and sold shares of IBM. IFS Advisors LLC bought a new stake in shares of International Business Machines during the 4th quarter worth approximately $28,000. Gleason Group Inc. purchased a new position in International Business Machines during the 2nd quarter worth $28,000. Parkside Investments LLC acquired a new stake in International Business Machines during the 1st quarter worth about $31,000. SJS Investment Consulting Inc. lifted its position in International Business Machines by 39.9% during the 1st quarter. SJS Investment Consulting Inc. now owns 270 shares of the technology company’s stock worth $35,000 after acquiring an additional 77 shares during the period. Finally, PrairieView Partners LLC lifted its holdings in shares of International Business Machines by 64.2% in the 1st quarter. PrairieView Partners LLC now owns 284 shares of the technology company’s stock valued at $37,000 after buying an additional 111 shares during the period. Hedge funds and other institutional investors own 55.52% of the company’s stock.

International Business Machines Stock Down 1.9 %

Shares of International Business Machines stock traded down $2.38 during trading hours on Friday, reaching $122.93. 100,466 shares of the company were exchanged, compared to its average volume of 3,566,598. International Business Machines Co. has a 1 year low of $114.56 and a 1 year high of $146.00. The stock’s fifty day moving average is $130.85 and its 200 day moving average is $132.93. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.82 and a current ratio of 0.88. The firm has a market cap of $111.03 billion, a PE ratio of 20.06, a PEG ratio of 1.91 and a beta of 0.84.

International Business Machines (NYSE:IBMGet Rating) last posted its earnings results on Monday, July 18th. The technology company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.29 by $0.02. The firm had revenue of $15.54 billion for the quarter, compared to analyst estimates of $15.18 billion. International Business Machines had a return on equity of 43.52% and a net margin of 8.72%. International Business Machines’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.33 earnings per share. As a group, equities research analysts forecast that International Business Machines Co. will post 9.39 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, September 10th. Investors of record on Wednesday, August 10th were issued a $1.65 dividend. This represents a $6.60 annualized dividend and a yield of 5.37%. The ex-dividend date was Tuesday, August 9th. International Business Machines’s dividend payout ratio (DPR) is presently 107.14%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on IBM shares. Societe Generale cut their price objective on International Business Machines to $129.00 in a research note on Tuesday, September 13th. Morgan Stanley dropped their price target on International Business Machines from $157.00 to $155.00 and set an “overweight” rating for the company in a research report on Tuesday, July 19th. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, August 31st. Credit Suisse Group upped their price target on International Business Machines from $156.00 to $163.00 and gave the company an “outperform” rating in a research report on Wednesday, August 17th. Finally, BMO Capital Markets decreased their price objective on International Business Machines from $152.00 to $148.00 in a report on Tuesday, July 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $145.18.

Insider Activity at International Business Machines

In other news, Director David N. Farr acquired 1,000 shares of the company’s stock in a transaction on Thursday, September 15th. The shares were bought at an average price of $125.00 per share, with a total value of $125,000.00. Following the completion of the acquisition, the director now owns 1,000 shares in the company, valued at approximately $125,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.04% of the stock is currently owned by corporate insiders.

About International Business Machines

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International Business Machines Corporation provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions, such as Red Hat, an enterprise open-source solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.

See Also

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Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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