International Business Machines Corporation (NYSE:IBM – Get Free Report)’s stock price traded up 3.9% during mid-day trading on Friday . The company traded as high as $243.63 and last traded at $243.1420. 4,877,011 shares changed hands during trading, a decline of 37% from the average session volume of 7,710,638 shares. The stock had previously closed at $234.02.
Key Headlines Impacting International Business Machines
Here are the key news stories impacting International Business Machines this week:
- Positive Sentiment: IBM and Lockheed Martin are establishing a quantum innovation hub at ETH Zurich through a Swiss defense offset agreement. The facility is expected to host Switzerland’s first IBM Quantum System Two, combining IBM’s Nighthawk r2 processor with the Alps supercomputer and giving researchers and businesses access to the technology through at least 2029. The arrangement provides IBM with institutional exposure to quantum computing without relying solely on speculative commercial demand. IBM and Lockheed Martin Turn a Swiss Defense Deal Into a Quantum Computing Bet
- Positive Sentiment: The partnership could support longer-term applications in quantum sensing, navigation, advanced materials and aerospace manufacturing. IBM’s existing software and AI relationships with Lockheed may also increase switching costs and strengthen IBM’s position in defense-oriented hybrid computing. IBM and Lockheed Martin Seem an Odd Couple. Why They’re Teaming Up On Quantum
- Positive Sentiment: IBM and NASA released an open-source lunar foundation model trained on decades of Moon-observation data. The model reportedly improves identification of features such as ice deposits and craters by up to 23%, highlighting IBM’s AI capabilities and potential use in scientific and government projects. IBM and NASA Release Open-Source AI Model to Support Lunar Exploration
Analysts Set New Price Targets
Several equities analysts have recently issued reports on IBM shares. BMO Capital Markets reduced their price target on shares of International Business Machines from $270.00 to $230.00 and set a “market perform” rating for the company in a report on Thursday, July 23rd. Oppenheimer lowered shares of International Business Machines from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 15th. JPMorgan Chase & Co. dropped their price target on shares of International Business Machines from $291.00 to $250.00 and set an “overweight” rating on the stock in a research note on Friday, July 17th. The Goldman Sachs Group set a $270.00 price objective on International Business Machines in a research report on Thursday, July 23rd. Finally, Citigroup lowered their target price on International Business Machines from $255.00 to $245.00 and set a “buy” rating on the stock in a research report on Friday, July 24th. Sixteen equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $265.90.
International Business Machines Stock Up 3.9%
The firm’s fifty day moving average price is $237.79 and its 200-day moving average price is $246.38. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.79 and a quick ratio of 0.74. The firm has a market capitalization of $229.07 billion, a P/E ratio of 21.57, a PEG ratio of 2.29 and a beta of 0.71.
International Business Machines (NYSE:IBM – Get Free Report) last announced its earnings results on Wednesday, July 22nd. The technology company reported $2.93 EPS for the quarter, hitting the consensus estimate of $2.93. The firm had revenue of $17.16 billion for the quarter, compared to analysts’ expectations of $17.46 billion. International Business Machines had a return on equity of 35.65% and a net margin of 15.52%.The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.80 earnings per share. As a group, equities research analysts forecast that International Business Machines Corporation will post 12.33 earnings per share for the current year.
International Business Machines Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Monday, August 10th were issued a $1.69 dividend. The ex-dividend date was Monday, August 10th. This represents a $6.76 annualized dividend and a dividend yield of 2.8%. International Business Machines’s dividend payout ratio is 59.98%.
Insiders Place Their Bets
In related news, SVP Robert Thomas sold 25,000 shares of International Business Machines stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $230.32, for a total transaction of $5,758,000.00. Following the transaction, the senior vice president directly owned 47,800 shares of the company’s stock, valued at $11,009,296. The trade was a 34.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On International Business Machines
Several large investors have recently made changes to their positions in IBM. Basepoint Wealth LLC acquired a new position in International Business Machines in the fourth quarter worth approximately $25,000. Portus Wealth Advisors LLC acquired a new position in shares of International Business Machines in the 1st quarter worth $26,000. Harborfront Financial Group LLC acquired a new position in shares of International Business Machines in the 2nd quarter worth $27,000. Cornerstone Financial Management LLC acquired a new stake in shares of International Business Machines during the fourth quarter worth $28,000. Finally, Hara Capital LLC purchased a new stake in shares of International Business Machines during the second quarter valued at $28,000. Institutional investors own 58.96% of the company’s stock.
International Business Machines Company Profile
International Business Machines Corporation (IBM) is a global technology and consulting company that provides enterprise-focused hardware, software and services. Its offerings include hybrid cloud solutions, artificial intelligence, data and automation software, cybersecurity tools, IT infrastructure and technology consulting.
IBM develops and supports enterprise systems such as IBM Z mainframes, Power servers and storage products. Its software portfolio includes Red Hat hybrid cloud technologies, the watsonx platform for artificial intelligence and data management, application integration tools and cybersecurity solutions.
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