West Family Investments Inc. Makes New Investment in International Business Machines Corporation $IBM

West Family Investments Inc. bought a new stake in International Business Machines Corporation (NYSE:IBM) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 4,412 shares of the technology company’s stock, valued at approximately $1,241,000.

A number of other institutional investors have also modified their holdings of IBM. Orca Wealth Management LLC grew its position in International Business Machines by 3.7% in the 4th quarter. Orca Wealth Management LLC now owns 975 shares of the technology company’s stock valued at $285,000 after buying an additional 35 shares during the last quarter. Friday Financial increased its stake in International Business Machines by 1.9% in the 2nd quarter. Friday Financial now owns 1,903 shares of the technology company’s stock valued at $583,000 after buying an additional 35 shares during the period. First Command Advisory Services Inc. raised its position in International Business Machines by 1.1% during the 4th 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. Washington Trust Bank lifted its stake in shares of International Business Machines by 2.2% in the 4th quarter. Washington Trust Bank now owns 1,712 shares of the technology company’s stock worth $507,000 after acquiring an additional 37 shares during the period. Finally, HORAN Wealth LLC lifted its stake in shares of International Business Machines by 1.3% in the 4th quarter. HORAN Wealth LLC now owns 2,851 shares of the technology company’s stock worth $844,000 after acquiring an additional 37 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Up 0.1%

IBM stock opened at $234.87 on Friday. The company has a market cap 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. International Business Machines Corporation has a 52 week low of $199.19 and a 52 week high of $332.46. The company’s 50-day moving average price is $241.67 and its 200 day moving average price is $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 (NYSE:IBM) last issued its earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share for the quarter, hitting the consensus estimate of $2.93. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. The company had revenue of $17.16 billion for the quarter, compared to analyst estimates of $17.46 billion. During the same period in the prior year, the business posted $2.80 earnings per share. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, research analysts expect 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 declared 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 dividend on an annualized basis and a dividend yield of 2.9%. International Business Machines’s dividend payout ratio is currently 59.98%.

Analyst Ratings Changes

Several analysts have recently weighed in on IBM shares. HSBC set a $175.00 target price on shares of International Business Machines and gave the company a “reduce” rating in a report on Thursday, July 16th. Barclays reduced their price objective on shares of International Business Machines from $288.00 to $262.00 and set an “overweight” rating for the company in a research report on Thursday, July 23rd. Wall Street Zen raised International Business Machines from a “sell” rating to a “hold” rating in a report on Saturday, August 29th. The Goldman Sachs Group set a $270.00 target price on International Business Machines in a research report on Thursday, July 23rd. Finally, Susquehanna increased their target price on International Business Machines from $225.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday. Sixteen equities 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. According to data from MarketBeat, International Business Machines has a consensus rating of “Moderate Buy” and an average target price of $265.90.

Insider Buying and Selling at International Business Machines

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

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.