LaSalle St. Investment Advisors LLC Buys Shares of 3,348 International Business Machines Corporation $IBM

LaSalle St. Investment Advisors LLC purchased a new position in shares of International Business Machines Corporation (NYSE:IBM) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,348 shares of the technology company’s stock, valued at approximately $942,000.

Several other large investors have also bought and sold shares of the business. Basepoint Wealth LLC acquired a new position in International Business Machines during the fourth quarter worth about $25,000. Portus Wealth Advisors LLC acquired a new stake in shares of International Business Machines in the 1st quarter valued at approximately $26,000. Harborfront Financial Group LLC bought a new stake in shares of International Business Machines during the 2nd quarter valued at approximately $27,000. Cornerstone Financial Management LLC bought a new stake in shares of International Business Machines during the 4th quarter valued at approximately $28,000. Finally, Hara Capital LLC acquired a new position in International Business Machines during the 2nd quarter worth approximately $28,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Trading Up 0.1%

IBM opened at $234.87 on Friday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.79 and a quick ratio of 0.74. International Business Machines Corporation has a fifty-two week low of $199.19 and a fifty-two week high of $332.46. The company’s 50 day moving average price is $241.67 and its two-hundred day moving average price is $247.13. The firm has a market capitalization of $221.28 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 2.24 and a beta of 0.71.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.93. The firm had revenue of $17.16 billion during the quarter, compared to the consensus estimate of $17.46 billion. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. During the same quarter last year, the firm earned $2.80 earnings per share. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, research analysts predict that International Business Machines Corporation will post 12.33 earnings per share for the current year.

International Business Machines Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on IBM shares. Susquehanna raised their target price on shares of International Business Machines from $225.00 to $235.00 and gave the company a “neutral” rating in a research report on Monday, August 31st. Royal Bank Of Canada reiterated an “outperform” rating and set a $270.00 price target on shares of International Business Machines in a report on Tuesday, July 21st. JPMorgan Chase & Co. cut their price objective on International Business Machines from $291.00 to $250.00 and set an “overweight” rating on the stock in a report on Friday, July 17th. Stifel Nicolaus reduced their price objective on International Business Machines from $290.00 to $235.00 and set a “buy” rating on the stock in a research report on Monday, July 20th. Finally, Barclays lowered their target price 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. Sixteen investment 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 target price of $265.90.

Insider Buying and Selling

In other International Business Machines 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 transaction of $5,758,000.00. Following the transaction, the senior vice president directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.27% of the company’s stock.

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.