LaSalle St. Investment Advisors LLC Invests $942,000 in International Business Machines Corporation $IBM

LaSalle St. Investment Advisors LLC acquired a new position in shares of International Business Machines Corporation (NYSE:IBM) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,348 shares of the technology company’s stock, valued at approximately $942,000.

Other hedge funds have also bought and sold shares of the company. Basepoint Wealth LLC acquired a new stake in International Business Machines during the 4th quarter worth about $25,000. Portus Wealth Advisors LLC bought a new position in shares of International Business Machines during the 1st quarter worth about $26,000. Harborfront Financial Group LLC bought a new stake in shares of International Business Machines during the second quarter valued at approximately $27,000. Cornerstone Financial Management LLC bought a new position in shares of International Business Machines in the fourth quarter valued at $28,000. Finally, Hara Capital LLC bought a new stake in International Business Machines during the 2nd quarter worth approximately $28,000. Institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Piper Sandler raised shares of International Business Machines to an “overweight” rating in a research report on Tuesday, June 23rd. Bank of America raised their target price 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. Needham & Company LLC assumed coverage on International Business Machines in a research note on Wednesday, June 3rd. They set a “buy” rating on the stock. Susquehanna boosted their price target on shares of International Business Machines from $225.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, August 31st. Finally, Barclays reduced their price target 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. Sixteen research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $265.90.

Insider Buying and Selling

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 shares were sold at an average price of $230.32, for a total transaction of $5,758,000.00. Following the sale, the senior vice president owned 47,800 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

International Business Machines Stock Performance

Shares of IBM stock opened at $234.87 on Friday. The firm’s 50 day moving average is $241.67 and its 200 day moving average is $247.13. The stock has a market capitalization of $221.28 billion, a P/E ratio of 20.84, a PEG 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 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 posted its earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.93. The firm had revenue of $17.16 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.80 earnings per share. On average, sell-side analysts anticipate that International Business Machines Corporation will post 12.33 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 10th will be given a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Monday, August 10th. International Business Machines’s dividend payout ratio (DPR) is 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.