Uptick Partners LLC Acquires New Holdings in International Business Machines Corporation $IBM

Uptick Partners LLC bought a new stake in shares of International Business Machines Corporation (NYSE:IBM) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 3,724 shares of the technology company’s stock, valued at approximately $1,047,000.

A number of other institutional investors also recently bought and sold shares of IBM. Basepoint Wealth LLC bought a new stake in shares of International Business Machines during the 4th quarter valued at about $25,000. Cornerstone Financial Management LLC bought a new position in shares of International Business Machines in the 4th quarter worth approximately $28,000. Harborfront Financial Group LLC purchased a new position in shares of International Business Machines in the second quarter worth approximately $27,000. SWAN Capital LLC bought a new stake in International Business Machines during the third quarter valued at approximately $28,000. Finally, Bare Financial Services Inc grew its position in International Business Machines by 114.6% during the second quarter. Bare Financial Services Inc now owns 103 shares of the technology company’s stock valued at $29,000 after buying an additional 55 shares during the period. Institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on IBM. Wedbush set a $350.00 price target on shares of International Business Machines in a research report on Tuesday, June 2nd. Stifel Nicolaus cut their price objective on shares of International Business Machines from $290.00 to $235.00 and set a “buy” rating for the company in a research report on Monday, July 20th. Wall Street Zen upgraded International Business Machines from a “sell” rating to a “hold” rating in a research note on Saturday, August 29th. Oppenheimer cut International Business Machines from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 15th. Finally, Weiss Ratings downgraded International Business Machines from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, June 24th. Sixteen investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $265.90.

International Business Machines Trading Up 0.1%

International Business Machines stock opened at $234.87 on Friday. International Business Machines Corporation has a 12-month low of $199.19 and a 12-month high of $332.46. The firm has a market capitalization of $221.28 billion, a price-to-earnings ratio of 20.84, a P/E/G ratio of 2.24 and a beta of 0.71. The firm has a 50 day moving average of $241.67 and a 200 day moving average of $247.13. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.63.

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. The business 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 company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.80 earnings per share. As a group, research analysts predict 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 dividend of $1.69 per share. The ex-dividend date is Monday, August 10th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 2.9%. International Business Machines’s payout ratio is 59.98%.

Insiders Place Their Bets

In related news, SVP Robert Thomas sold 25,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $11,009,296. This represents a 34.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.27% of the company’s stock.

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.