International Business Machines Co. (NYSE:IBM) Director Sidney Taurel Acquires 5,000 Shares

International Business Machines Co. (NYSE:IBM) Director Sidney Taurel acquired 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 27th. The shares were acquired at an average cost of $110.75 per share, for a total transaction of $553,750.00. Following the transaction, the director now owns 28,798 shares of the company’s stock, valued at approximately $3,189,378.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of International Business Machines stock opened at $106.65 on Thursday. The company’s fifty day simple moving average is $121.61 and its 200-day simple moving average is $122.57. The company has a market cap of $94.98 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 3.46 and a beta of 1.16. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 2.68. International Business Machines Co. has a 1 year low of $90.56 and a 1 year high of $158.75.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Monday, October 19th. The technology company reported $2.58 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $2.58. International Business Machines had a net margin of 10.53% and a return on equity of 49.12%. The firm had revenue of $17.56 billion for the quarter, compared to the consensus estimate of $17.56 billion. During the same quarter in the previous year, the company earned $2.68 earnings per share. The business’s revenue was down 2.6% compared to the same quarter last year. As a group, research analysts forecast that International Business Machines Co. will post 10.94 earnings per share for the current fiscal year.

Several equities analysts have commented on IBM shares. BMO Capital Markets lowered their price target on International Business Machines from $140.00 to $138.00 and set a “market perform” rating on the stock in a report on Tuesday, October 20th. Bank of America reiterated a “buy” rating and set a $145.00 price target on shares of International Business Machines in a report on Monday, July 20th. Argus upgraded International Business Machines from a “hold” rating to a “buy” rating and set a $155.00 price target on the stock in a report on Wednesday, July 22nd. Wells Fargo & Company increased their price target on International Business Machines from $120.00 to $130.00 and gave the company a “hold” rating in a report on Tuesday, July 21st. Finally, ValuEngine downgraded International Business Machines from a “hold” rating to a “sell” rating in a report on Wednesday, October 21st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $139.06.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Greatmark Investment Partners Inc. acquired a new stake in International Business Machines during the third quarter worth $224,000. JFS Wealth Advisors LLC boosted its stake in International Business Machines by 3.2% during the third quarter. JFS Wealth Advisors LLC now owns 6,437 shares of the technology company’s stock worth $783,000 after buying an additional 200 shares in the last quarter. AlphaStar Capital Management LLC boosted its stake in International Business Machines by 26.7% during the third quarter. AlphaStar Capital Management LLC now owns 5,912 shares of the technology company’s stock worth $742,000 after buying an additional 1,246 shares in the last quarter. Empirical Finance LLC boosted its stake in International Business Machines by 27.2% during the third quarter. Empirical Finance LLC now owns 7,441 shares of the technology company’s stock worth $905,000 after buying an additional 1,593 shares in the last quarter. Finally, Trust Asset Management LLC lifted its holdings in shares of International Business Machines by 80.7% during the third quarter. Trust Asset Management LLC now owns 4,500 shares of the technology company’s stock valued at $548,000 after acquiring an additional 2,010 shares during the period. Hedge funds and other institutional investors own 56.11% of the company’s stock.

About International Business Machines

International Business Machines Corporation operates as an integrated solutions and services company worldwide. Its Cloud & Cognitive Software segment offers software for vertical and domain-specific solutions in health, financial services, and Internet of Things (IoT), weather, and security software and services application areas; and customer information control system and storage, and analytics and integration software solutions to support client mission critical on-premise workloads in banking, airline, and retail industries.

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