NFSG Corp lifted its stake in International Business Machines Corporation (NYSE:IBM – Free Report) by 28.7% in the first quarter, HoldingsChannel.com reports. The firm owned 16,893 shares of the technology company’s stock after purchasing an additional 3,771 shares during the quarter. NFSG Corp’s holdings in International Business Machines were worth $4,095,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in International Business Machines by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 97,216,131 shares of the technology company’s stock valued at $28,796,390,000 after buying an additional 1,439,824 shares during the last quarter. State Street Corp raised its position in shares of International Business Machines by 1.0% during the fourth quarter. State Street Corp now owns 54,996,293 shares of the technology company’s stock worth $16,290,452,000 after acquiring an additional 518,321 shares during the last quarter. Geode Capital Management LLC raised its position in shares of International Business Machines by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 22,605,083 shares of the technology company’s stock worth $6,679,105,000 after acquiring an additional 336,069 shares during the last quarter. Capital World Investors lifted its stake in shares of International Business Machines by 29.2% during the fourth quarter. Capital World Investors now owns 22,021,912 shares of the technology company’s stock valued at $6,523,720,000 after acquiring an additional 4,976,756 shares during the period. Finally, Norges Bank bought a new position in International Business Machines in the fourth quarter valued at about $2,446,429,000. Institutional investors own 58.96% of the company’s stock.
Analyst Ratings Changes
A number of analysts recently commented on the company. Royal Bank Of Canada reiterated an “outperform” rating on shares of International Business Machines in a research report on Tuesday, June 23rd. Needham & Company LLC started coverage on shares of International Business Machines in a research report on Wednesday, June 3rd. They set a “buy” rating on the stock. Weiss Ratings lowered shares of International Business Machines from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, June 24th. Citigroup lifted their price target on shares of International Business Machines from $285.00 to $375.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Finally, BMO Capital Markets dropped their price target on shares of International Business Machines from $290.00 to $270.00 and set a “market perform” rating for the company in a research note on Thursday, April 23rd. Fourteen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, International Business Machines presently has an average rating of “Moderate Buy” and an average price target of $307.17.
International Business Machines Stock Down 25.4%
Shares of International Business Machines stock opened at $216.59 on Wednesday. The business has a fifty day simple moving average of $264.70 and a 200 day simple moving average of $265.20. The stock has a market cap of $203.57 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 2.80 and a beta of 0.68. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.75. International Business Machines Corporation has a 12 month low of $212.34 and a 12 month high of $332.46.
International Business Machines (NYSE:IBM – Get Free Report) last released its earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.10. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The firm had revenue of $15.92 billion for the quarter, compared to analyst estimates of $15.60 billion. During the same quarter in the prior year, the firm posted $1.60 earnings per share. The company’s quarterly revenue was up 9.5% on a year-over-year basis. Research analysts predict that International Business Machines Corporation will post 12.45 EPS for the current year.
International Business Machines Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th were given a dividend of $1.69 per share. This is a positive change from International Business Machines’s previous quarterly dividend of $1.68. This represents a $6.76 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Friday, May 8th. International Business Machines’s payout ratio is 59.77%.
Key Headlines Impacting International Business Machines
Here are the key news stories impacting International Business Machines this week:
- Negative Sentiment: IBM reported preliminary Q2 revenue of about $17.2 billion and adjusted EPS of $2.93, both below estimates, raising concerns about near-term growth and execution. Reuters: IBM expects second-quarter revenue below estimates
- Negative Sentiment: CEO Arvind Krishna said the company “faltered,” citing delayed deal closures and customers shifting budgets toward AI infrastructure and memory chips, which hurt software and infrastructure sales. CNBC: IBM warns second-quarter earnings fell short of expectations
- Negative Sentiment: The warning is dragging other software and IT services names lower, reinforcing fears that enterprise spending is moving away from traditional software vendors and toward AI hardware/cybersecurity. Investor’s Business Daily: Stock Market Jumps As Inflation Eases; IBM Warns
International Business Machines Profile
International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.
IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.
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