West Family Investments Inc. Invests $1.24 Million in International Business Machines Corporation $IBM

West Family Investments Inc. bought a new position in shares of International Business Machines Corporation (NYSE:IBM) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,412 shares of the technology company’s stock, valued at approximately $1,241,000.

Several other large investors have also recently bought and sold shares of the business. Bantamac Capital LLC purchased a new position in International Business Machines in the second quarter valued at $787,000. Tacita Capital Inc purchased a new stake in International Business Machines during the 2nd quarter worth about $53,000. Knuff & Co LLC purchased a new stake in International Business Machines during the 2nd quarter worth about $281,000. NewEdge Wealth LLC acquired a new position in shares of International Business Machines during the 2nd quarter worth about $64,722,000. Finally, Monetta Financial Services Inc. purchased a new position in shares of International Business Machines in the 2nd quarter valued at about $984,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insider Activity at International Business Machines

In related 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 value of $5,758,000.00. Following the completion of the sale, the senior vice president owned 47,800 shares in the company, valued at $11,009,296. This represents a 34.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is owned by insiders.

International Business Machines Stock Up 0.1%

Shares of NYSE IBM opened at $234.87 on Friday. The business has a 50-day moving average price of $241.67 and a 200 day moving average price of $247.13. The stock 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. 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 Corporation has a 52-week low of $199.19 and a 52-week high of $332.46.

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 the consensus estimate of $2.93. International Business Machines had a return on equity of 35.65% and a net margin of 15.52%.The company had revenue of $17.16 billion for the quarter, compared to analyst estimates of $17.46 billion. During the same quarter in the previous year, the company posted $2.80 earnings per share. The firm’s revenue was up 1.1% compared to the same quarter last year. Equities research analysts forecast that International Business Machines Corporation will post 12.33 earnings per share for the current 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 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 of this dividend is Monday, August 10th. International Business Machines’s payout ratio is presently 59.98%.

Wall Street Analysts Forecast Growth

IBM has been the topic of several research analyst reports. The Goldman Sachs Group set a $270.00 target price on International Business Machines in a research report on Thursday, July 23rd. Barclays lowered their price target on International Business Machines from $288.00 to $262.00 and set an “overweight” rating for the company in a report on Thursday, July 23rd. Sanford C. Bernstein reiterated a “market perform” rating on shares of International Business Machines in a research note on Thursday, July 16th. HSBC set a $175.00 price objective on shares of International Business Machines and gave the stock a “reduce” rating in a report on Thursday, July 16th. Finally, Weiss Ratings downgraded shares of International Business Machines from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, June 24th. Sixteen equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $265.90.

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.