Intech Investment Management LLC Trims Holdings in International Business Machines Corporation $IBM

Intech Investment Management LLC reduced its stake in shares of International Business Machines Corporation (NYSE:IBM) by 3.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 146,917 shares of the technology company’s stock after selling 4,566 shares during the quarter. Intech Investment Management LLC’s holdings in International Business Machines were worth $43,518,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. CVA Family Office LLC increased its position in 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 during the period. Foster Group Inc. increased its position in 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 during the period. New Covenant Trust Company N.A. increased its position in 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 during the period. McGowan Group Asset Management Inc. increased its position in 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 valued at $798,000 after purchasing an additional 33 shares during the period. Finally, Marco Investment Management LLC increased its position in International Business Machines by 0.3% during the 3rd quarter. Marco Investment Management LLC now owns 10,774 shares of the technology company’s stock valued at $3,040,000 after purchasing an additional 34 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting International Business Machines

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 Performance

Shares of IBM stock opened at $264.25 on Friday. International Business Machines Corporation has a one year low of $212.34 and a one year high of $324.90. The company’s 50-day moving average is $239.22 and its 200 day moving average is $270.79. The company 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. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.80.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, April 22nd. The technology company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.81 by $0.10. The company had revenue of $15.92 billion for the quarter, compared to the consensus estimate of $15.60 billion. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. International Business Machines’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.60 EPS. Sell-side analysts expect that International Business Machines Corporation will post 12.4 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th will be paid a $1.69 dividend. This is a boost from International Business Machines’s previous quarterly dividend of $1.68. The ex-dividend date is Friday, May 8th. This represents a $6.76 annualized dividend and a dividend yield of 2.6%. International Business Machines’s dividend payout ratio (DPR) is currently 59.77%.

Analyst Ratings Changes

A number of brokerages have issued reports on IBM. Stifel Nicolaus set a $290.00 price objective on shares of International Business Machines in a research report on Friday, May 22nd. Wedbush reaffirmed an “outperform” rating on shares of International Business Machines in a research report on Thursday, May 21st. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of International Business Machines in a research report on Thursday. Weiss Ratings downgraded shares of International Business Machines from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Finally, Citigroup started coverage on shares of International Business Machines in a research report on Friday, April 10th. They issued a “buy” rating and a $285.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, International Business Machines has a consensus rating of “Moderate Buy” and an average price target of $294.41.

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.