3,488 Shares in International Business Machines Corporation $IBM Acquired by Rakuten Securities Inc.

Rakuten Securities Inc. bought a new stake in International Business Machines Corporation (NYSE:IBM) during the 2nd quarter, Holdings Channel.com reports. The firm bought 3,488 shares of the technology company’s stock, valued at approximately $981,000.

Several other hedge funds have also recently added to or reduced their stakes in IBM. BlackRock Inc. bought a new stake in shares of International Business Machines in the 2nd quarter valued at $21,586,659,000. State Street Corp raised 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 worth $16,290,452,000 after buying an additional 518,321 shares during the last quarter. Geode Capital Management LLC lifted its holdings in International Business Machines by 1.5% in 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 period. Capital World Investors lifted its holdings in International Business Machines by 29.2% in 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 buying an additional 4,976,756 shares during the period. Finally, Bank of America Corp DE boosted its position in International Business Machines by 7.0% during the first quarter. Bank of America Corp DE now owns 16,063,653 shares of the technology company’s stock valued at $3,893,669,000 after acquiring an additional 1,049,602 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Insider Activity at International Business Machines

In related news, SVP Robert Thomas sold 25,000 shares of the 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 directly owned 47,800 shares in the company, 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 Securities & Exchange Commission, which is available at this link. 0.27% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on IBM shares. Bank of America lifted their price objective on International Business Machines from $315.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. Wolfe Research lowered International Business Machines to a “peer perform” rating in a research report on Tuesday, June 23rd. KeyCorp cut International Business Machines to a “sector weight” rating in a research note on Tuesday, June 23rd. Susquehanna lifted their target price on International Business Machines from $225.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, August 31st. Finally, HSBC set a $175.00 price target on International Business Machines and gave the company a “reduce” rating in a research note on Thursday, July 16th. Sixteen research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $265.90.

International Business Machines Price Performance

Shares of NYSE IBM opened at $234.87 on Monday. The firm has a market capitalization 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 firm’s 50-day moving average price is $241.67 and its 200-day moving average price is $247.02. 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 Corporation has a 1-year low of $199.19 and a 1-year high of $332.46.

International Business Machines (NYSE:IBM) last issued its 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 company had revenue of $17.16 billion during the quarter, compared to the consensus estimate of $17.46 billion. During the same period last year, the business posted $2.80 EPS. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. Equities research analysts anticipate that International Business Machines Corporation will post 12.33 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 10th will be issued a dividend of $1.69 per share. 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 payout ratio 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.