OneAscent Financial Services LLC Makes New Investment in International Business Machines Corporation $IBM

OneAscent Financial Services LLC purchased a new stake in shares of International Business Machines Corporation (NYSE:IBM) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 4,397 shares of the technology company’s stock, valued at approximately $1,237,000.

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

Insider Buying and Selling

In related news, SVP Robert Thomas sold 25,000 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was 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 directly owned 47,800 shares of the company’s stock, valued at $11,009,296. This trade represents a 34.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

IBM has been the topic of a number of recent analyst reports. Stifel Nicolaus dropped their price objective on International Business Machines from $290.00 to $235.00 and set a “buy” rating on the stock in a research note on Monday, July 20th. Citigroup lowered their target price on International Business Machines from $255.00 to $245.00 and set a “buy” rating on the stock in a report on Friday, July 24th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $270.00 price target on shares of International Business Machines in a research report on Tuesday, July 21st. Robert W. Baird started coverage on International Business Machines in a report on Tuesday, July 21st. They set a “neutral” rating and a $230.00 price target for the company. Finally, Argus reduced their price objective on International Business Machines from $360.00 to $280.00 and set a “buy” rating for the company in a research report on Thursday, July 16th. Sixteen 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, International Business Machines has a consensus rating of “Moderate Buy” and an average price target of $265.90.

International Business Machines Stock Up 0.1%

IBM stock opened at $234.87 on Friday. International Business Machines Corporation has a twelve month low of $199.19 and a twelve month high of $332.46. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.63. The company 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 business’s 50-day simple moving average is $241.67 and its 200 day simple moving average is $247.13.

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

International Business Machines Announces Dividend

The company 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 dividend on an annualized basis and a dividend 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.