MJP Associates Inc. ADV Makes New Investment in International Business Machines Corporation $IBM

MJP Associates Inc. ADV bought a new stake in International Business Machines Corporation (NYSE:IBM) in the second quarter, HoldingsChannel reports. The institutional investor bought 6,314 shares of the technology company’s stock, valued at approximately $1,775,000.

Several other institutional investors also recently made changes to their positions in IBM. Brighton Jones LLC boosted its stake in shares of International Business Machines by 12.4% during the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock worth $4,619,000 after acquiring an additional 2,323 shares in the last quarter. Sivia Capital Partners LLC increased its stake in 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 in the last quarter. Jump Financial LLC acquired a new position in International Business Machines during the second quarter worth $211,000. Ieq Capital LLC raised its holdings in International Business Machines by 2.2% during the second quarter. Ieq Capital LLC now owns 38,617 shares of the technology company’s stock worth $11,383,000 after purchasing an additional 843 shares during the last quarter. Finally, Vivaldi Capital Management LP boosted its position in International Business Machines by 11.6% during the second quarter. Vivaldi Capital Management LP now owns 1,017 shares of the technology company’s stock worth $300,000 after purchasing an additional 106 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IBM has been the topic of several research reports. Barclays lowered their target price on International Business Machines from $288.00 to $262.00 and set an “overweight” rating on the stock in a report on Thursday, July 23rd. Wall Street Zen upgraded shares of International Business Machines from a “sell” rating to a “hold” rating in a research report on Saturday, August 29th. Piper Sandler raised shares of International Business Machines to an “overweight” rating in a research note on Tuesday, June 23rd. Sanford C. Bernstein restated a “market perform” rating on shares of International Business Machines in a report on Thursday, July 16th. Finally, 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. Sixteen investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $265.90.

Insiders Place Their Bets

In related news, SVP Robert Thomas sold 25,000 shares of the 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 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 can be accessed through this hyperlink. Company insiders own 0.27% of the company’s stock.

International Business Machines Stock Up 0.1%

Shares of NYSE IBM opened at $234.87 on Friday. The firm has a market cap of $221.28 billion, a P/E ratio of 20.84, a price-to-earnings-growth ratio of 2.24 and a beta of 0.71. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.74 and a current ratio of 0.79. International Business Machines Corporation has a 1 year low of $199.19 and a 1 year high of $332.46. The firm’s 50 day moving average price is $241.67 and its 200 day moving average price is $247.13.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share for the quarter, meeting 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 during the quarter, compared to the consensus estimate of $17.46 billion. During the same period in the previous year, the firm posted $2.80 EPS. International Business Machines’s revenue was up 1.1% on a year-over-year basis. As a group, sell-side analysts anticipate 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. Investors of record on Monday, August 10th will be paid a $1.69 dividend. This represents a $6.76 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, August 10th. International Business Machines’s dividend payout ratio is presently 59.98%.

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.