Insider Selling: International Business Machines Corp. SVP John E. Kelly III Sells 23,321 Shares of Stock (IBM)
International Business Machines Corp. (NYSE:IBM) SVP John E. Kelly III unloaded 23,321 shares of the company’s stock on the open market in a transaction dated Friday, August 15th. The stock was sold at an average price of $188.16, for a total transaction of $4,388,079.36. Following the sale, the senior vice president now directly owns 28,726 shares in the company, valued at approximately $5,405,084. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
International Business Machines Corp. (NYSE:IBM) traded down 0.17% during mid-day trading on Wednesday, hitting $189.7528. The stock had a trading volume of 934,845 shares. International Business Machines Corp. has a 1-year low of $172.19 and a 1-year high of $199.21. The stock’s 50-day moving average is $189.7 and its 200-day moving average is $187.4. The company has a market cap of $189.3 billion and a P/E ratio of 11.99.
International Business Machines Corp. (NYSE:IBM) last announced its earnings results on Thursday, July 17th. The company reported $4.32 earnings per share for the quarter, beating the analysts’ consensus estimate of $4.29 by $0.03. The company had revenue of $24.36 billion for the quarter, compared to the consensus estimate of $24.13 billion. During the same quarter last year, the company posted $3.22 earnings per share. International Business Machines Corp.’s revenue was down 2.2% compared to the same quarter last year. Analysts expect that International Business Machines Corp. will post $17.90 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 10th. Investors of record on Friday, August 8th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend is Wednesday, August 6th.
A number of analysts have recently weighed in on IBM shares. Analysts at Zacks reiterated a “neutral” rating on shares of International Business Machines Corp. in a research note on Monday, July 21st. They now have a $202.00 price target on the stock. Separately, analysts at Barclays reiterated an “equal weight” rating on shares of International Business Machines Corp. in a research note on Friday, July 18th. They now have a $180.00 price target on the stock, up previously from $173.00. Finally, analysts at Societe Generale downgraded shares of International Business Machines Corp. from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $198.07.
International Business Machines Corporation (NYSE:IBM) is an information technology (IT) company.
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