Shelter Mutual Insurance Co Buys New Position in International Business Machines Corporation $IBM

Shelter Mutual Insurance Co bought a new position in shares of International Business Machines Corporation (NYSE:IBM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 38,491 shares of the technology company’s stock, valued at approximately $10,824,000. International Business Machines accounts for approximately 2.3% of Shelter Mutual Insurance Co’s portfolio, making the stock its 13th largest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of International Business Machines in the 2nd quarter worth approximately $21,586,659,000. Bank of New York Mellon Corp acquired a new stake in International Business Machines during the second quarter valued at approximately $2,606,782,000. Norges Bank bought a new stake in International Business Machines during the fourth quarter worth approximately $2,446,429,000. Capital World Investors grew its position 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 worth $6,523,720,000 after buying an additional 4,976,756 shares during the last quarter. Finally, Deutsche Bank AG bought a new position in shares of International Business Machines in the second quarter valued at $960,839,000. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Trading Up 0.1%

NYSE:IBM opened at $234.87 on Friday. The stock 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. International Business Machines Corporation has a fifty-two week low of $199.19 and a fifty-two week high of $332.46. 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 stock’s 50-day moving average is $241.67 and its two-hundred day 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 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.93. The business had revenue of $17.16 billion during the quarter, compared to analyst estimates 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 earned $2.80 earnings per share. As a group, equities research analysts forecast that International Business Machines Corporation will post 12.33 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders 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 dividend on an annualized basis and a yield of 2.9%. International Business Machines’s dividend payout ratio is presently 59.98%.

Insider Activity

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IBM. Wedbush set a $350.00 price objective on International Business Machines in a research note on Tuesday, June 2nd. Needham & Company LLC started coverage on International Business Machines in a research report on Wednesday, June 3rd. They issued a “buy” rating for the company. Citigroup dropped their price target on International Business Machines from $255.00 to $245.00 and set a “buy” rating on the stock in a research note on Friday, July 24th. Barclays cut their price objective on International Business Machines from $288.00 to $262.00 and set an “overweight” rating on the stock in a report on Thursday, July 23rd. Finally, Morgan Stanley reduced their price objective on shares of International Business Machines from $293.00 to $190.00 and set an “equal weight” rating for the company in a research note on Thursday, July 23rd. Sixteen equities 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $265.90.

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.