Ieq Capital LLC Invests $24.34 Million in International Business Machines Corporation $IBM

Ieq Capital LLC acquired a new stake in International Business Machines Corporation (NYSE:IBM) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 86,572 shares of the technology company’s stock, valued at approximately $24,345,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in International Business Machines by 12.4% in the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock valued at $4,619,000 after acquiring an additional 2,323 shares during the last quarter. Sivia Capital Partners LLC raised its holdings in shares of International Business Machines by 10.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,938 shares of the technology company’s stock valued at $571,000 after purchasing an additional 186 shares during the period. Jump Financial LLC bought a new stake in shares of International Business Machines in the 2nd quarter valued at about $211,000. Vivaldi Capital Management LP lifted its stake in International Business Machines by 11.6% in the 2nd quarter. Vivaldi Capital Management LP now owns 1,017 shares of the technology company’s stock valued at $300,000 after purchasing an additional 106 shares during the last quarter. Finally, Diversify Advisory Services LLC grew its holdings in International Business Machines by 43.9% during the second quarter. Diversify Advisory Services LLC now owns 10,345 shares of the technology company’s stock worth $3,049,000 after purchasing an additional 3,154 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Down 0.0%

International Business Machines stock opened at $234.87 on Monday. The firm’s fifty day moving average is $241.67 and its 200 day moving average is $247.02. International Business Machines Corporation has a 12-month low of $199.19 and a 12-month high of $332.46. The company has a market capitalization of $221.28 billion, a PE ratio of 20.84, a PEG ratio of 2.24 and a beta of 0.71. 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 issued its earnings results on Wednesday, July 22nd. The technology company reported $2.93 EPS for the quarter, meeting analysts’ consensus estimates of $2.93. The business had revenue of $17.16 billion during the quarter, compared to analyst estimates of $17.46 billion. International Business Machines had a return on equity of 35.65% and a net margin of 15.52%.The firm’s revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.80 EPS. As a group, sell-side analysts predict that International Business Machines Corporation will post 12.33 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 10th will be issued a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Monday, August 10th. International Business Machines’s dividend payout ratio (DPR) is currently 59.98%.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Robert Thomas sold 25,000 shares of the company’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 transaction, the senior vice president owned 47,800 shares in the company, valued at approximately $11,009,296. This represents a 34.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

IBM has been the topic of several research reports. Roth Capital reiterated a “buy” rating on shares of International Business Machines in a report on Wednesday, June 3rd. Oppenheimer cut shares of International Business Machines from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 15th. Royal Bank Of Canada restated an “outperform” rating and set a $270.00 price objective on shares of International Business Machines in a research report on Tuesday, July 21st. Wedbush set a $350.00 target price on shares of International Business Machines in a report on Tuesday, June 2nd. Finally, Robert W. Baird initiated coverage on shares of International Business Machines in a research note on Tuesday, July 21st. They issued a “neutral” rating and a $230.00 price objective on the stock. Sixteen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.