631,665 Shares in International Business Machines Corporation $IBM Bought by Korea Investment CORP

Korea Investment CORP bought a new stake in shares of International Business Machines Corporation (NYSE:IBM) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 631,665 shares of the technology company’s stock, valued at approximately $177,631,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of IBM. BlackRock Inc. purchased a new position in shares of International Business Machines during the second quarter valued at about $21,586,659,000. State Street Corp boosted its stake in International Business Machines by 1.0% during the fourth quarter. State Street Corp now owns 54,996,293 shares of the technology company’s stock valued at $16,290,452,000 after buying an additional 518,321 shares during the last quarter. Geode Capital Management LLC boosted its stake in International Business Machines by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 22,605,083 shares of the technology company’s stock valued at $6,679,105,000 after buying an additional 336,069 shares during the last quarter. Capital World Investors grew its holdings in International Business Machines by 29.2% during the 4th quarter. Capital World Investors now owns 22,021,912 shares of the technology company’s stock valued at $6,523,720,000 after buying an additional 4,976,756 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in International Business Machines by 7.0% in the 1st quarter. Bank of America Corp DE now owns 16,063,653 shares of the technology company’s stock worth $3,893,669,000 after acquiring an additional 1,049,602 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Robert Thomas sold 25,000 shares of the company’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 transaction, the senior vice president owned 47,800 shares of the company’s stock, valued at $11,009,296. This represents a 34.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.27% of the stock is currently owned by insiders.

Analyst Ratings Changes

IBM has been the subject of a number of recent research reports. Jefferies Financial Group cut their target price 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. Robert W. Baird started coverage on shares of International Business Machines in a research note on Tuesday, July 21st. They issued a “neutral” rating and a $230.00 price objective for the company. Susquehanna boosted their target price on shares of International Business Machines from $225.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, August 31st. Bank of America upped their target price on shares of International Business Machines from $315.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, July 6th. Finally, Needham & Company LLC initiated coverage on shares of International Business Machines in a report on Wednesday, June 3rd. They issued a “buy” rating for the company. Sixteen analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $265.90.

International Business Machines Trading Down 0.0%

Shares of IBM opened at $234.87 on Monday. International Business Machines Corporation has a twelve month low of $199.19 and a twelve month high of $332.46. The company has a market cap of $221.28 billion, a P/E ratio of 20.84, a P/E/G ratio of 2.24 and a beta of 0.71. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.63. The company’s fifty day simple moving average is $241.67 and its 200-day simple moving average is $247.02.

International Business Machines (NYSE:IBM) last issued 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. The company had revenue of $17.16 billion for 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%. The firm’s revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.80 EPS. As a group, analysts expect that International Business Machines Corporation will post 12.33 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 10th will be paid a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a dividend 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%.

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.