Houlihan Financial Resource Group Ltd. increased its holdings in shares of International Business Machines Corporation (NYSE:IBM – Free Report) by 166.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,399 shares of the technology company’s stock after purchasing an additional 2,122 shares during the period. Houlihan Financial Resource Group Ltd.’s holdings in International Business Machines were worth $1,021,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the business. CVA Family Office LLC lifted 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 valued at $708,000 after purchasing an additional 33 shares in the last quarter. Foster Group Inc. lifted 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 valued at $742,000 after purchasing an additional 33 shares in the last quarter. New Covenant Trust Company N.A. lifted 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 valued at $264,000 after purchasing an additional 33 shares in the last quarter. McGowan Group Asset Management Inc. raised its position in International Business Machines by 1.2% in the 4th quarter. McGowan Group Asset Management Inc. now owns 2,693 shares of the technology company’s stock valued at $798,000 after buying an additional 33 shares during the last quarter. Finally, Marco Investment Management LLC raised its position in International Business Machines by 0.3% in the 3rd quarter. Marco Investment Management LLC now owns 10,774 shares of the technology company’s stock valued at $3,040,000 after buying an additional 34 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the company. Stifel Nicolaus set a $290.00 target price on International Business Machines in a research report on Friday, May 22nd. Wedbush reissued an “outperform” rating on shares of International Business Machines in a research report on Thursday, May 21st. JPMorgan Chase & Co. dropped their target price on International Business Machines from $317.00 to $283.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. DZ Bank raised International Business Machines from a “hold” rating to a “buy” rating and set a $295.00 target price on the stock in a research report on Friday, April 24th. Finally, Oppenheimer dropped their target price on International Business Machines from $380.00 to $320.00 and set an “outperform” rating on the stock in a research report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $294.41.
International Business Machines News Roundup
Here are the key news stories impacting International Business Machines this week:
- Positive Sentiment: IBM announced it will invest more than $10 billion in quantum computing over the next five years, aiming to build a large-scale, error-corrected quantum computer by 2029. Investors appear to be betting this could strengthen IBM’s position in a high-growth, strategically important technology area. IBM to invest $10 billion for large-scale quantum computer by 2029
- Positive Sentiment: The company also committed $5 billion to Project Lightwell, a Red Hat-backed initiative to improve open-source software security with AI tools and more than 20,000 engineers. That push could expand IBM’s cybersecurity and enterprise software footprint while creating a new revenue opportunity. IBM commits $5 billion to secure open-source software
- Positive Sentiment: Commentary from analysts and media outlets says the spending plans may help “future-proof” IBM by positioning it more aggressively in AI, quantum computing, and cybersecurity, which has added to bullish sentiment around the stock. IBM shares rise after unveiling $15B cybersecurity and quantum investment plan
- Neutral Sentiment: IBM also reported a legal development involving older former HR workers’ age discrimination claims, but this appears less likely to move the stock materially than the strategic investment announcements. IBM Ditches Laid-Off Older HR Workers’ Age Discrimination Claims
International Business Machines Stock Up 3.5%
NYSE:IBM opened at $264.25 on Friday. The firm has a market capitalization of $248.36 billion, a price-to-earnings ratio of 23.36, a price-to-earnings-growth ratio of 2.64 and a beta of 0.58. International Business Machines Corporation has a twelve month low of $212.34 and a twelve month high of $324.90. The stock’s 50 day moving average price is $239.22 and its two-hundred day moving average price is $270.79. 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 (NYSE:IBM – Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.10. The firm had revenue of $15.92 billion for the quarter, compared to analyst estimates of $15.60 billion. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.60 EPS. Equities research analysts expect that International Business Machines Corporation will post 12.4 earnings per share for the current fiscal year.
International Business Machines Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th will be given 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 of this dividend is Friday, May 8th. This represents a $6.76 annualized dividend and a dividend yield of 2.6%. International Business Machines’s payout ratio is presently 59.77%.
International Business Machines Company 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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