TRB Wealth Management LLC Takes $1.32 Million Position in International Business Machines Corporation $IBM

TRB Wealth Management LLC acquired a new stake in International Business Machines Corporation (NYSE:IBM) during the second quarter, Holdings Channel.com reports. The firm acquired 4,713 shares of the technology company’s stock, valued at approximately $1,325,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of International Business Machines in the second quarter worth $21,586,659,000. Bank of New York Mellon Corp bought a new position in International Business Machines in the 2nd quarter worth $2,606,782,000. Norges Bank acquired a new stake in shares of International Business Machines in the fourth quarter valued at about $2,446,429,000. Capital World Investors increased its stake in shares of International Business Machines by 29.2% in the fourth quarter. Capital World Investors now owns 22,021,912 shares of the technology company’s stock worth $6,523,720,000 after purchasing an additional 4,976,756 shares during the period. Finally, Deutsche Bank AG acquired a new position in shares of International Business Machines during the 2nd quarter worth about $960,839,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of NYSE:IBM opened at $234.87 on Monday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.79 and a quick ratio of 0.74. The business’s fifty day moving average price is $241.67 and its two-hundred day moving average price is $247.02. International Business Machines Corporation has a fifty-two week low of $199.19 and a fifty-two week high of $332.46. The stock has a market capitalization of $221.28 billion, a price-to-earnings 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 issued its quarterly earnings data on Wednesday, July 22nd. The technology company reported $2.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $17.46 billion. During the same period last year, the business earned $2.80 earnings per share. The business’s revenue was up 1.1% on a year-over-year basis. As a group, analysts predict that International Business Machines Corporation will post 12.33 EPS for the current fiscal year.

International Business Machines Announces Dividend

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

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several research analysts have commented on IBM shares. Oppenheimer downgraded International Business Machines from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 15th. HSBC set a $175.00 target price on shares of International Business Machines and gave the stock a “reduce” rating in a research report on Thursday, July 16th. Jefferies Financial Group reduced their price target on shares of International Business Machines from $320.00 to $260.00 and set a “buy” rating for the company in a report on Tuesday, July 21st. Sanford C. Bernstein restated a “market perform” rating on shares of International Business Machines in a report on Thursday, July 16th. Finally, Argus reduced their target price on shares of International Business Machines from $360.00 to $280.00 and set a “buy” rating for the company in a research note on Thursday, July 16th. Sixteen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, International Business Machines has an average rating of “Moderate Buy” and a consensus price target 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.