Trade Report: Today, Investors Buy International Business Machines Corp. (IBM) on Weakness After Insider Selling

Today, Investors Buy International Business Machines Corp. (IBM) on Weakness After Insider Selling

Investors purchased shares of International Business Machines Corp. (NYSE:IBM) on weakness during trading on Wednesday after an insider sold shares in the company. $127.90 million flowed into the stock on the tick-up and $73.17 million flowed out of the stock on the tick-down, for a money net flow of $54.73 million into the stock. Of all equities tracked, International Business Machines Corp. had the 9th highest net in-flow for the day. International Business Machines Corp. traded down ($0.69) for the day and closed at $161.98Specifically, insider Kralingen Bridget A. Van sold 330 shares of the company’s stock in a transaction on Thursday, October 20th. The stock was sold at an average price of $152.05, for a total transaction of $50,176.50. Following the transaction, the insider now directly owns 6,977 shares in the company, valued at $1,060,852.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kralingen Bridget A. Van sold 2,107 shares of the company’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $162.44, for a total value of $342,261.08. Following the transaction, the insider now owns 4,147 shares in the company, valued at $673,638.68. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.

A number of analysts have recently weighed in on the company. Vetr raised International Business Machines Corp. from a “sell” rating to a “hold” rating and set a $156.55 price objective on the stock in a research report on Monday, August 29th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $162.00 price objective on shares of International Business Machines Corp. in a research report on Monday, September 12th. Bank of America Corp. set a $185.00 price objective on International Business Machines Corp. and gave the stock a “buy” rating in a research report on Monday. Drexel Hamilton reaffirmed a “buy” rating and set a $186.00 price objective on shares of International Business Machines Corp. in a research report on Tuesday, October 18th. Finally, Societe Generale raised International Business Machines Corp. from a “sell” rating to a “hold” rating in a research report on Monday, September 26th. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the company. International Business Machines Corp. has an average rating of “Hold” and a consensus target price of $156.04.

The company has a market capitalization of $154.02 billion, a PE ratio of 13.20 and a beta of 0.94. The stock has a 50-day moving average of $155.42 and a 200 day moving average of $155.62.

International Business Machines Corp. (NYSE:IBM) last released its quarterly earnings data on Monday, October 17th. The technology company reported $3.29 earnings per share for the quarter, topping the consensus estimate of $3.24 by $0.05. The firm had revenue of $19.23 billion for the quarter, compared to analyst estimates of $19 billion. International Business Machines Corp. had a net margin of 14.75% and a return on equity of 82.86%. International Business Machines Corp.’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.34 earnings per share. Analysts predict that International Business Machines Corp. will post $13.50 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, December 10th. Investors of record on Thursday, November 10th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $5.60 annualized dividend and a yield of 3.46%. International Business Machines Corp.’s dividend payout ratio (DPR) is 45.64%.

A number of large investors have recently added to or reduced their stakes in IBM. West Oak Capital LLC raised its stake in International Business Machines Corp. by 3.1% in the second quarter. West Oak Capital LLC now owns 11,432 shares of the technology company’s stock valued at $1,735,000 after buying an additional 345 shares during the period. Patten & Patten Inc. TN boosted its position in International Business Machines Corp. by 3.7% in the second quarter. Patten & Patten Inc. TN now owns 7,680 shares of the technology company’s stock valued at $1,166,000 after buying an additional 273 shares during the period. Howland Capital Management LLC boosted its position in International Business Machines Corp. by 3.5% in the second quarter. Howland Capital Management LLC now owns 14,165 shares of the technology company’s stock valued at $2,150,000 after buying an additional 485 shares during the period. Cacti Asset Management LLC boosted its position in International Business Machines Corp. by 0.3% in the second quarter. Cacti Asset Management LLC now owns 242,996 shares of the technology company’s stock valued at $36,882,000 after buying an additional 623 shares during the period. Finally, Park National Corp OH boosted its position in International Business Machines Corp. by 3.7% in the second quarter. Park National Corp OH now owns 206,739 shares of the technology company’s stock valued at $31,379,000 after buying an additional 7,431 shares during the period. Hedge funds and other institutional investors own 58.49% of the company’s stock.

Related posts

Leave a Comment