Visionary Wealth Advisors Acquires Shares of 3,352 International Business Machines Corporation $IBM

Visionary Wealth Advisors bought a new position in shares of International Business Machines Corporation (NYSE:IBM) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,352 shares of the technology company’s stock, valued at approximately $943,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in International Business Machines by 424.6% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 260,740 shares of the technology company’s stock valued at $77,234,000 after purchasing an additional 211,040 shares during the last quarter. Assetmark Inc. grew its position in International Business Machines by 24.8% during the 1st quarter. Assetmark Inc. now owns 64,458 shares of the technology company’s stock worth $15,624,000 after purchasing an additional 12,791 shares during the last quarter. GLOBALT Investments LLC GA grew its position in International Business Machines by 19.1% during the 4th quarter. GLOBALT Investments LLC GA now owns 18,288 shares of the technology company’s stock worth $5,417,000 after purchasing an additional 2,930 shares during the last quarter. Rice Partnership LLC acquired a new position in International Business Machines in the fourth quarter valued at $3,317,000. Finally, Sage Investment Advisers LLC acquired a new position in International Business Machines in the fourth quarter valued at $4,101,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

Shares of IBM opened at $234.77 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.63. International Business Machines Corporation has a 52-week low of $199.19 and a 52-week high of $332.46. The company has a 50-day simple moving average of $240.81 and a 200-day simple moving average of $246.86. The company has a market capitalization of $221.18 billion, a PE ratio of 20.83, a P/E/G ratio of 2.24 and a beta of 0.71.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, July 22nd. The technology company reported $2.93 EPS for the quarter, hitting analysts’ consensus estimates of $2.93. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. The firm had revenue of $17.16 billion for the quarter, compared to the consensus estimate of $17.46 billion. During the same quarter in the previous year, the firm earned $2.80 earnings per share. The firm’s revenue was up 1.1% on a year-over-year basis. Equities research analysts predict that International Business Machines Corporation will post 12.33 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 10th will be paid a dividend of $1.69 per share. The ex-dividend date of this dividend 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 59.98%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on IBM. Susquehanna increased their target price on shares of International Business Machines from $225.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, August 31st. Stifel Nicolaus reduced their price objective on International Business Machines from $290.00 to $235.00 and set a “buy” rating for the company in a research note on Monday, July 20th. Morgan Stanley decreased their price objective on International Business Machines from $293.00 to $190.00 and set an “equal weight” rating for the company in a research report on Thursday, July 23rd. HSBC set a $175.00 target price on International Business Machines and gave the company a “reduce” rating in a report on Thursday, July 16th. Finally, Jefferies Financial Group cut their price target on International Business Machines from $320.00 to $260.00 and set a “buy” rating for the company in a research note on Tuesday, July 21st. Sixteen analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $265.90.

Insider Activity at International Business Machines

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

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.