Carroll Advisory Group LLC bought a new position in shares of International Business Machines Corporation (NYSE:IBM – Free Report) during the 4th quarter, HoldingsChannel reports. The fund bought 15,061 shares of the technology company’s stock, valued at approximately $4,461,000. International Business Machines accounts for about 1.9% of Carroll Advisory Group LLC’s investment portfolio, making the stock its 14th biggest holding.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. CVA Family Office LLC boosted its holdings in shares of International Business Machines by 1.4% during the 4th quarter. CVA Family Office LLC now owns 2,389 shares of the technology company’s stock worth $708,000 after purchasing an additional 33 shares during the last quarter. Foster Group Inc. boosted its holdings in shares of International Business Machines by 1.3% during the 4th quarter. Foster Group Inc. now owns 2,507 shares of the technology company’s stock worth $742,000 after purchasing an additional 33 shares during the last quarter. New Covenant Trust Company N.A. boosted its holdings in shares of International Business Machines by 3.8% during the 4th quarter. New Covenant Trust Company N.A. now owns 905 shares of the technology company’s stock worth $264,000 after purchasing an additional 33 shares during the last quarter. McGowan Group Asset Management Inc. boosted its holdings in shares of International Business Machines by 1.2% during the 4th quarter. McGowan Group Asset Management Inc. now owns 2,693 shares of the technology company’s stock worth $798,000 after purchasing an additional 33 shares during the last quarter. Finally, CFS Investment Advisory Services LLC raised its position in shares of International Business Machines by 0.4% during the 3rd quarter. CFS Investment Advisory Services LLC now owns 9,359 shares of the technology company’s stock valued at $2,878,000 after buying an additional 34 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.
International Business Machines News Summary
Here are the key news stories impacting International Business Machines this week:
- Positive Sentiment: IBM and the U.S. Commerce Department announced a plan to launch America’s first purpose-built quantum foundry, with IBM set to receive the largest share of federal support and contribute matching capital. IBM and U.S. Department of Commerce Announce America’s First Purpose-Built Quantum Foundry, Supported by Proposed $1 Billion CHIPS Award
- Positive Sentiment: Analysts and media reports say the quantum funding package is a major new catalyst for IBM, helping drive strong share-price momentum and lifting sentiment around the stock’s long-term growth prospects. IBM shares extend rally as Wedbush calls US quantum investment a “new catalyst”
- Positive Sentiment: IBM’s push into quantum computing and related hot tech segments is being viewed as evidence the company is expanding beyond legacy businesses into higher-growth opportunities. Why IBM Stock Was Rocking it This Week
- Neutral Sentiment: Some coverage highlights that IBM’s valuation, debt load, and execution risk will matter as the company commits capital to the quantum foundry project. IBM’s US$1b Anderon Quantum Foundry Puts Valuation And Debt In Focus
Insider Buying and Selling
Analyst Upgrades and Downgrades
IBM has been the subject of several analyst reports. Royal Bank Of Canada lowered their price objective on International Business Machines from $330.00 to $300.00 and set an “outperform” rating for the company in a research report on Wednesday, May 6th. Argus set a $360.00 target price on International Business Machines in a research note on Friday, January 30th. Weiss Ratings cut International Business Machines from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. HSBC upgraded International Business Machines from a “reduce” rating to a “hold” rating and increased their price target for the stock from $218.00 to $231.00 in a report on Tuesday, April 28th. Finally, BMO Capital Markets lowered their price target on International Business Machines from $290.00 to $270.00 and set a “market perform” rating for the company in a report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $294.41.
Get Our Latest Analysis on International Business Machines
International Business Machines Stock Up 0.4%
NYSE:IBM opened at $253.88 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.75. The stock’s fifty day moving average is $238.70 and its two-hundred day moving average is $272.44. International Business Machines Corporation has a 52 week low of $212.34 and a 52 week high of $324.90. The stock has a market capitalization of $238.62 billion, a price-to-earnings ratio of 22.45, a price-to-earnings-growth ratio of 2.63 and a beta of 0.58.
International Business Machines (NYSE:IBM – Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The technology company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $15.92 billion for the quarter, compared to analysts’ expectations of $15.60 billion. During the same period in the prior year, the firm earned $1.60 earnings per share. The firm’s revenue was up 9.5% compared to the same quarter last year. Research analysts anticipate that International Business Machines Corporation will post 12.4 EPS for the current year.
International Business Machines Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 8th will be issued a dividend of $1.69 per share. This is a positive change from International Business Machines’s previous quarterly dividend of $1.68. The ex-dividend date is Friday, May 8th. This represents a $6.76 dividend on an annualized basis and a yield of 2.7%. International Business Machines’s dividend payout ratio (DPR) is 59.77%.
About International Business Machines
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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