Insider Selling: International Business Machines Corp. VP Sells 9,354 Shares of Stock (IBM)
International Business Machines Corp. (NYSE:IBM) VP James J. Kavanaugh sold 9,354 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $191.84, for a total value of $1,794,471.36. Following the completion of the transaction, the vice president now directly owns 15,368 shares in the company, valued at approximately $2,948,197. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. 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 equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. International Business Machines Corp. has an average rating of “Hold” and an average price target of $198.07.
Shares of International Business Machines Corp. (NYSE:IBM) traded down 0.43% during mid-day trading on Friday, hitting $190.41. The stock had a trading volume of 1,940,225 shares. International Business Machines Corp. has a one year low of $172.19 and a one year high of $199.21. The stock has a 50-day moving average of $189.9 and a 200-day moving average of $187.5. The company has a market cap of $190.0 billion and a P/E ratio of 12.06.
International Business Machines Corp. (NYSE:IBM) last issued its quarterly earnings data on Thursday, July 17th. The company reported $4.32 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $3.22 earnings per share. The company’s quarterly revenue was down 2.2% on a year-over-year basis. On average, analysts predict that International Business Machines Corp. will post $17.90 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 10th. Investors of record on Friday, August 8th will be paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Wednesday, August 6th.
International Business Machines Corporation (NYSE:IBM) is an information technology (IT) company.
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