Insider Selling: Robert J. Leblanc Sells 7,586 Shares of International Business Machines Corp. Stock (IBM)
International Business Machines Corp. (NYSE:IBM) SVP Robert J. Leblanc sold 7,586 shares of the stock on the open market in a transaction dated Monday, August 25th. The shares were sold at an average price of $191.18, for a total value of $1,450,291.48. Following the sale, the senior vice president now directly owns 51,521 shares in the company, valued at approximately $9,849,785. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of International Business Machines Corp. (NYSE:IBM) traded up 0.77% on Tuesday, hitting $192.6403. 1,112,866 shares of the company’s stock traded hands. International Business Machines Corp. has a 52-week low of $172.19 and a 52-week high of $199.21. The stock has a 50-day moving average of $190.0 and a 200-day moving average of $187.9. The company has a market cap of $192.2 billion and a price-to-earnings ratio of 12.06.
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. 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. Shareholders 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 2.30%. The ex-dividend date is Wednesday, August 6th.
IBM has been the subject of a number of recent research reports. 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 research analysts have rated the stock with a sell rating, fifteen have issued 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 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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