Foster Victor Wealth Advisors LLC increased its holdings in International Business Machines Corporation (NYSE:IBM – Free Report) by 4.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 71,542 shares of the technology company’s stock after purchasing an additional 2,847 shares during the quarter. Foster Victor Wealth Advisors LLC’s holdings in International Business Machines were worth $16,912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in International Business Machines during the 2nd quarter worth $21,586,659,000. State Street Corp grew its stake in shares of International Business Machines by 2.7% in the second quarter. State Street Corp now owns 56,045,055 shares of the technology company’s stock worth $15,760,430,000 after purchasing an additional 1,450,562 shares in the last quarter. Bank of America Corp DE bought a new position in shares of International Business Machines in the second quarter worth $4,214,868,000. Bank of New York Mellon Corp acquired a new position in shares of International Business Machines during the second quarter valued at $2,606,782,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of International Business Machines by 0.7% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,621,512 shares of the technology company’s stock valued at $2,143,245,000 after purchasing an additional 53,388 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.
More International Business Machines News
Here are the key news stories impacting International Business Machines this week:
- Positive Sentiment: Q3 results exceeded expectations: IBM reported adjusted earnings of $2.95 per share versus consensus estimates near $2.85-$2.88, while revenue rose approximately 5% year over year to $17.1 billion, ahead of the roughly $16.8 billion forecast. IBM beats on top and bottom lines
- Positive Sentiment: Software and infrastructure growth accelerated: Software revenue increased 8% to $7.8 billion and Infrastructure revenue rose 4% to $3.7 billion. Management said previously delayed infrastructure deals began closing, supporting the view that the prior-quarter slowdown was temporary. IBM raises annual software revenue outlook
- Positive Sentiment: Cash-flow outlook improved: IBM generated $3.0 billion in free cash flow during the quarter and expects full-year free cash flow to increase by more than $1 billion from the prior year. The company maintained its 4%-5% full-year constant-currency revenue-growth forecast. IBM third-quarter results
- Positive Sentiment: CEO Arvind Krishna highlighted momentum in enterprise AI and “Super Intelligence” initiatives, while IBM’s partnerships around open-source AI inference and its quantum-computing strategy add longer-term growth catalysts.
- Neutral Sentiment: IBM’s GAAP net income rose to $2.19 billion from $1.74 billion a year earlier, and the board declared a quarterly dividend of $1.69 per share.
- Negative Sentiment: Gross margin was narrower than expected, which could limit the benefit of revenue growth if elevated AI, infrastructure, or implementation costs persist.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the stock. Yorkville Ives initiated coverage on shares of International Business Machines in a research note on Monday, October 5th. They set an “outperform” rating and a $275.00 price objective on the stock. BMO Capital Markets decreased their target price on shares of International Business Machines from $270.00 to $230.00 and set a “market perform” rating for the company in a research report on Thursday, July 23rd. Evercore decreased their target price on shares of International Business Machines from $310.00 to $250.00 and set an “outperform” rating for the company in a research report on Thursday, July 16th. Royal Bank Of Canada reissued an “outperform” rating and set a $270.00 target price on shares of International Business Machines in a research note on Tuesday, October 13th. Finally, The Goldman Sachs Group set a $270.00 price target on shares of International Business Machines and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Twenty research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $255.76.
View Our Latest Stock Report on International Business Machines
Insider Buying and Selling at International Business Machines
In other news, SVP Robert Thomas sold 25,000 shares of the company’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $230.32, for a total value of $5,758,000.00. Following the completion of the sale, the senior vice president owned 47,800 shares in the company, valued at $11,009,296. This represents a 34.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.27% of the stock is currently owned by company insiders.
International Business Machines Stock Performance
IBM opened at $250.67 on Thursday. The business has a 50 day moving average price of $232.36 and a two-hundred day moving average price of $243.60. 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 company has a market capitalization of $236.16 billion, a price-to-earnings ratio of 22.24, a price-to-earnings-growth ratio of 2.32 and a beta of 0.73. International Business Machines Corporation has a 1-year low of $199.19 and a 1-year high of $332.46.
International Business Machines (NYSE:IBM – Get Free Report) last issued its quarterly earnings results on Wednesday, October 21st. The technology company reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.10. International Business Machines had a return on equity of 35.65% and a net margin of 15.52%. The firm had revenue of $17.10 billion during the quarter, compared to analyst estimates of $16.82 billion. During the same period last year, the company posted $2.65 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. Research analysts predict that International Business Machines Corporation will post 12.34 EPS for the current fiscal year.
About International Business Machines
International Business Machines Corporation (NYSE:IBM), commonly known as IBM, is a global technology and consulting company that helps organizations modernize their information technology and business operations. Its offerings include hybrid cloud solutions, artificial intelligence software and services, enterprise software, IT infrastructure, cybersecurity, data analytics, and technology consulting.
IBM provides products and services to businesses, governments, and other institutions across industries and regions worldwide.
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