Insider Selling: International Business Machines Corp. CEO Unloads 10,518 Shares of Stock (IBM)
International Business Machines Corp. (NYSE:IBM) CEO Virginia M. Rometty sold 10,518 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $191.71, for a total transaction of $2,016,405.78. Following the sale, the chief executive officer now directly owns 17,872 shares in the company, valued at approximately $3,426,241. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on IBM. 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 assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $198.07.
International Business Machines Corp. (NYSE:IBM) traded down 0.13% during mid-day trading on Thursday, hitting $192.00. The stock had a trading volume of 1,503,582 shares. International Business Machines Corp. has a 1-year low of $172.19 and a 1-year high of $199.21. The stock has a 50-day moving average of $190.2 and a 200-day moving average of $188.1. The company has a market cap of $191.5 billion and a price-to-earnings ratio of 12.13.
International Business Machines Corp. (NYSE:IBM) last posted its quarterly earnings results on Thursday, July 17th. The company reported $4.32 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $3.22 earnings per share. The company’s revenue for the quarter 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. Stockholders 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 2.29%. The ex-dividend date is Wednesday, August 6th.
International Business Machines Corporation (NYSE:IBM) is an information technology (IT) company.
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