4,850 Shares in International Business Machines Corporation $IBM Purchased by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. acquired a new stake in shares of International Business Machines Corporation (NYSE:IBM) in the 2nd quarter, HoldingsChannel reports. The firm acquired 4,850 shares of the technology company’s stock, valued at approximately $1,364,000.

A number of other hedge funds also recently added to or reduced their stakes in IBM. Korea Investment CORP purchased a new position in shares of International Business Machines in the 2nd quarter valued at approximately $177,631,000. EP Wealth Advisors LLC acquired a new position in shares of International Business Machines in the second quarter valued at approximately $15,691,000. Heartland Bank & Trust Co acquired a new stake in shares of International Business Machines during the second quarter worth $1,262,000. Rakuten Securities Inc. acquired a new stake in shares of International Business Machines during the second quarter worth $981,000. Finally, Bard Associates Inc. purchased a new position in International Business Machines in the 2nd quarter valued at $58,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at International Business Machines

In other news, SVP Robert Thomas sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $230.32, for a total transaction of $5,758,000.00. Following the completion of the transaction, the senior vice president directly owned 47,800 shares of the company’s stock, valued at $11,009,296. This trade represents a 34.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.27% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wolfe Research downgraded shares of International Business Machines to a “peer perform” rating in a research report on Tuesday, June 23rd. Roth Capital reiterated a “buy” rating on shares of International Business Machines in a research note on Wednesday, June 3rd. Robert W. Baird began coverage on shares of International Business Machines in a research report on Tuesday, July 21st. They issued a “neutral” rating and a $230.00 price objective for the company. Bank of America increased their target price on International Business Machines from $315.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. Finally, Oppenheimer downgraded International Business Machines from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 15th. Sixteen analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $265.90.

International Business Machines Stock Performance

NYSE IBM opened at $234.87 on Monday. The business has a 50 day moving average price of $241.67 and a 200 day moving average price of $247.02. 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 company has a market capitalization of $221.28 billion, a P/E ratio of 20.84, a PEG ratio of 2.24 and a beta of 0.71. International Business Machines Corporation has a 1-year low of $199.19 and a 1-year high of $332.46.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share 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 business had revenue of $17.16 billion during the quarter, compared to analysts’ expectations of $17.46 billion. During the same quarter last year, the business posted $2.80 earnings per share. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. Sell-side analysts expect that International Business Machines Corporation will post 12.33 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders 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 annualized dividend and a dividend yield of 2.9%. International Business Machines’s dividend payout ratio is currently 59.98%.

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.