Trillium Asset Management LLC Invests $671,000 in International Business Machines Corporation $IBM

Trillium Asset Management LLC bought a new stake in International Business Machines Corporation (NYSE:IBM) during the second quarter, Holdings Channel reports. The fund bought 2,388 shares of the technology company’s stock, valued at approximately $671,000.

Other institutional investors have also recently added to or reduced their stakes in the company. VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in International Business Machines by 424.6% during the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 260,740 shares of the technology company’s stock worth $77,234,000 after buying an additional 211,040 shares during the period. Assetmark Inc. raised its stake in shares of International Business Machines by 24.8% in the 1st quarter. Assetmark Inc. now owns 64,458 shares of the technology company’s stock valued at $15,624,000 after acquiring an additional 12,791 shares during the period. GLOBALT Investments LLC GA lifted its holdings in shares of 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 valued at $5,417,000 after acquiring an additional 2,930 shares in the last quarter. Rice Partnership LLC purchased a new stake in International Business Machines during the 4th quarter worth $3,317,000. Finally, Sage Investment Advisers LLC purchased a new stake in International Business Machines during the 4th quarter worth $4,101,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on IBM shares. Bank of America raised their price objective on International Business Machines from $315.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, July 6th. The Goldman Sachs Group set a $270.00 price target on International Business Machines in a research report on Thursday, July 23rd. Wolfe Research downgraded shares of International Business Machines to a “peer perform” rating in a research report on Tuesday, June 23rd. KeyCorp lowered shares of International Business Machines to a “sector weight” rating in a research note on Tuesday, June 23rd. Finally, JPMorgan Chase & Co. reduced their target price on shares of International Business Machines from $291.00 to $250.00 and set an “overweight” rating on the stock in a research report on Friday, July 17th. Sixteen investment 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. According to MarketBeat, International Business Machines has a consensus rating of “Moderate Buy” and an average price target of $265.90.

Insider Buying and Selling at International Business Machines

In other news, SVP Robert Thomas sold 25,000 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president directly owned 47,800 shares in the company, valued at approximately $11,009,296. This trade represents a 34.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.27% of the company’s stock.

International Business Machines Stock Up 0.1%

Shares of NYSE:IBM opened at $234.87 on Friday. The firm 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. The company has a fifty day simple moving average of $241.67 and a 200 day simple 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 Corporation has a 12-month low of $199.19 and a 12-month high of $332.46.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.93. The business had revenue of $17.16 billion for 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 company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.80 EPS. On average, equities research analysts anticipate that International Business Machines Corporation will post 12.33 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 10th will be issued a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, August 10th. International Business Machines’s payout ratio is currently 59.98%.

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.