TCM Advisors LLC Takes $759,000 Position in International Business Machines Corporation $IBM

TCM Advisors LLC purchased a new stake in International Business Machines Corporation (NYSE:IBM) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,700 shares of the technology company’s stock, valued at approximately $759,000.

Other hedge funds have also bought and sold shares of the company. Orca Wealth Management LLC increased its position in International Business Machines by 3.7% during the 4th quarter. Orca Wealth Management LLC now owns 975 shares of the technology company’s stock worth $285,000 after purchasing an additional 35 shares in the last quarter. Friday Financial boosted its position in International Business Machines by 1.9% in the second quarter. Friday Financial now owns 1,903 shares of the technology company’s stock valued at $583,000 after buying an additional 35 shares in the last quarter. First Command Advisory Services Inc. grew its stake in shares of International Business Machines by 1.1% during the fourth quarter. First Command Advisory Services Inc. now owns 3,459 shares of the technology company’s stock worth $1,025,000 after buying an additional 36 shares during the last quarter. HORAN Wealth LLC grew its stake in shares of International Business Machines by 1.3% during the fourth quarter. HORAN Wealth LLC now owns 2,851 shares of the technology company’s stock worth $844,000 after buying an additional 37 shares during the last quarter. Finally, Washington Trust Bank increased its holdings in shares of International Business Machines by 2.2% during the fourth quarter. Washington Trust Bank now owns 1,712 shares of the technology company’s stock worth $507,000 after buying an additional 37 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other International Business Machines news, SVP Robert Thomas sold 25,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Roth Capital reiterated a “buy” rating on shares of International Business Machines in a research note on Wednesday, June 3rd. Susquehanna upped 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. Craig Hallum initiated coverage on International Business Machines in a research report on Wednesday, August 19th. They issued a “buy” rating for the company. Argus cut their price target on International Business Machines from $360.00 to $280.00 and set a “buy” rating on the stock in a research note on Thursday, July 16th. Finally, BMO Capital Markets reduced their price target on International Business Machines from $270.00 to $230.00 and set a “market perform” rating on the stock in a report on Thursday, July 23rd. Sixteen equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $265.90.

International Business Machines Stock Down 0.1%

Shares of NYSE:IBM opened at $234.77 on Tuesday. The firm has a market cap of $221.18 billion, a P/E ratio of 20.83, a P/E/G ratio of 2.24 and a beta of 0.71. International Business Machines Corporation has a 12-month low of $199.19 and a 12-month high of $332.46. The business has a fifty day simple moving average of $240.81 and a 200 day simple moving average of $246.86. 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 (NYSE:IBM) last released its quarterly earnings results on Wednesday, July 22nd. The technology company reported $2.93 EPS for the quarter, meeting analysts’ consensus estimates of $2.93. The firm had revenue of $17.16 billion for the quarter, compared to analyst estimates of $17.46 billion. International Business Machines had a return on equity of 35.65% and a net margin of 15.52%.The business’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.80 EPS. Analysts predict that International Business Machines Corporation will post 12.33 earnings per share for the current year.

International Business Machines Dividend Announcement

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

International Business Machines Company 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.