Northwestern Mutual Wealth Management Co. Takes $64.78 Million Position in International Business Machines Corporation $IBM

Northwestern Mutual Wealth Management Co. bought a new stake in International Business Machines Corporation (NYSE:IBM) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 230,347 shares of the technology company’s stock, valued at approximately $64,776,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IBM. Basepoint Wealth LLC acquired a new position in shares of International Business Machines in the 4th quarter valued at about $25,000. Cornerstone Financial Management LLC purchased a new position in International Business Machines in the fourth quarter valued at approximately $28,000. Harborfront Financial Group LLC acquired a new position in International Business Machines during the second quarter valued at approximately $27,000. Hara Capital LLC purchased a new stake in International Business Machines during the second quarter worth approximately $28,000. Finally, SWAN Capital LLC purchased a new position in shares of International Business Machines in the 3rd quarter valued at $28,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IBM has been the topic of a number of recent research reports. Roth Capital restated a “buy” rating on shares of International Business Machines in a research note on Wednesday, June 3rd. The Goldman Sachs Group set a $270.00 target price on International Business Machines in a report on Thursday, July 23rd. Wall Street Zen upgraded International Business Machines from a “sell” rating to a “hold” rating in a report on Saturday, August 29th. Oppenheimer downgraded shares of International Business Machines from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 15th. Finally, Argus dropped their price objective on shares of International Business Machines from $360.00 to $280.00 and set a “buy” rating on the stock in a research note on Thursday, July 16th. Sixteen research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $265.90.

Insider Transactions at International Business Machines

In other news, SVP Robert Thomas sold 25,000 shares of the business’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $230.32, for a total value of $5,758,000.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is owned by corporate insiders.

International Business Machines Price Performance

Shares of NYSE IBM opened at $234.87 on Monday. International Business Machines Corporation has a fifty-two week low of $199.19 and a fifty-two week high of $332.46. The business has a 50 day moving average price of $241.67 and a two-hundred day moving average price of $247.02. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.63. The firm has a market cap 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.

International Business Machines (NYSE:IBM) last announced 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 company had revenue of $17.16 billion for 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%.International Business Machines’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.80 EPS. Sell-side analysts expect that International Business Machines Corporation will post 12.33 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, August 10th. This represents a $6.76 annualized dividend and a yield of 2.9%. International Business Machines’s dividend payout ratio is currently 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.