Oppenheimer Asset Management Inc. Acquires New Stake in International Business Machines Corporation (NYSE:IBM)

Oppenheimer Asset Management Inc. acquired a new stake in International Business Machines Corporation (NYSE:IBM) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 63,944 shares of the technology company’s stock, valued at approximately $11,135,000.

Other large investors have also added to or reduced their stakes in the company. Ibex Wealth Advisors acquired a new stake in International Business Machines Corporation during the fourth quarter valued at $2,784,000. River & Mercantile Asset Management LLP acquired a new stake in International Business Machines Corporation during the fourth quarter valued at $9,918,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in International Business Machines Corporation during the fourth quarter valued at $409,000. Norges Bank acquired a new stake in International Business Machines Corporation during the fourth quarter valued at $1,366,710,000. Finally, Assenagon Asset Management S.A. acquired a new stake in International Business Machines Corporation during the fourth quarter valued at $490,000. Institutional investors and hedge funds own 58.73% of the company’s stock.

International Business Machines Corporation (NYSE:IBM) traded down 0.14% during trading on Friday, hitting $141.64. The stock had a trading volume of 889,487 shares. The firm has a market cap of $132.00 billion, a PE ratio of 11.76 and a beta of 0.97. International Business Machines Corporation has a 52-week low of $141.19 and a 52-week high of $182.79. The company’s 50 day moving average is $149.55 and its 200 day moving average is $162.71.

International Business Machines Corporation (NYSE:IBM) last posted its earnings results on Tuesday, July 18th. The technology company reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.74 by $0.23. International Business Machines Corporation had a net margin of 14.58% and a return on equity of 71.53%. The business had revenue of $19.29 billion for the quarter, compared to analyst estimates of $19.45 billion. During the same period in the prior year, the company posted $2.95 EPS. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. Equities research analysts forecast that International Business Machines Corporation will post $13.74 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Saturday, September 9th. Stockholders of record on Thursday, August 10th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 4.23%. The ex-dividend date is Tuesday, August 8th. International Business Machines Corporation’s payout ratio is currently 49.88%.

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Several research analysts have recently issued reports on IBM shares. Jefferies Group LLC set a $135.00 target price on International Business Machines Corporation and gave the stock a “sell” rating in a research report on Friday, May 19th. Drexel Hamilton reissued a “buy” rating and issued a $200.00 target price (down previously from $215.00) on shares of International Business Machines Corporation in a research report on Saturday, April 22nd. Stifel Nicolaus reissued a “buy” rating and issued a $182.00 target price on shares of International Business Machines Corporation in a research report on Friday, July 21st. Bank of America Corporation reissued a “buy” rating and issued a $180.00 target price (down previously from $185.00) on shares of International Business Machines Corporation in a research report on Wednesday, April 19th. Finally, TheStreet lowered International Business Machines Corporation to a “hold” rating in a research report on Friday, April 21st. Seven analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $157.40.

In other news, Director James W. Owens bought 1,718 shares of the stock in a transaction dated Tuesday, May 16th. The shares were acquired at an average cost of $153.19 per share, with a total value of $263,180.42. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.23% of the company’s stock.

About International Business Machines Corporation

International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.

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Institutional Ownership by Quarter for International Business Machines Corporation (NYSE:IBM)

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