StoneX Group Inc. raised its stake in International Business Machines Corporation (NYSE:IBM – Free Report) by 113.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,390 shares of the technology company’s stock after acquiring an additional 6,050 shares during the period. StoneX Group Inc.’s holdings in International Business Machines were worth $2,527,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in International Business Machines in the 2nd quarter worth approximately $21,586,659,000. Bank of America Corp DE acquired a new position in shares of International Business Machines in the second quarter worth about $4,214,868,000. Bank of New York Mellon Corp purchased a new position in shares of International Business Machines during the second quarter valued at $2,606,782,000. Legal & General Group Plc acquired a new position in International Business Machines in the 2nd quarter valued at approximately $1,874,733,000. Finally, Wellington Management Group LLP grew its stake in shares of International Business Machines by 2,362.2% in the 2nd quarter. Wellington Management Group LLP now owns 6,549,393 shares of the technology company’s stock valued at $1,841,755,000 after buying an additional 6,283,395 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.
Key International Business Machines News
Here are the key news stories impacting International Business Machines this week:
- Positive Sentiment: Evercore’s sum-of-the-parts analysis values IBM at $290 a share, above its $275 price target, suggesting the firm sees potential value in IBM’s businesses, including quantum computing. IBM Stock Could Be More Than a ‘Safe Haven.’ Quantum Computing Is a Big Reason
- Positive Sentiment: IBM’s Quantum System Two is now operational at the University of Chicago, expanding its quantum-computing presence and partnerships in Illinois. The installation strengthens IBM’s research and commercialization ecosystem, though financial returns are likely longer term. IBM Unveils Its Most Advanced Quantum Computer in Chicago
- Positive Sentiment: IBM, AMD and Oak Ridge National Laboratory launched a platform combining quantum and high-performance computing to advance quantum error correction, supporting IBM’s technology roadmap. The initiative targets progress toward a scientifically relevant quantum computer by 2028. Oak Ridge National Laboratory, IBM, and AMD Launch New Co-Design Platform for Quantum Error Correction
- Neutral Sentiment: A recent valuation commentary questions whether IBM’s cash-flow outlook supports the stock’s longer-term share-price gains. The excerpt does not provide a firm valuation conclusion, but it highlights investor scrutiny of the company’s price relative to future cash generation. IBM Stock Could Trade At A Discount After Quantum Computing News
International Business Machines Stock Down 0.1%
NYSE:IBM opened at $244.71 on Monday. The stock’s fifty day simple moving average is $236.76 and its 200-day simple moving average is $248.64. The firm has a market capitalization of $231.28 billion, a P/E ratio of 20.86, a P/E/G ratio of 2.41 and a beta of 0.78. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 1.57. International Business Machines Corporation has a 12-month low of $199.19 and a 12-month high of $332.46.
International Business Machines (NYSE:IBM – Get Free Report) last issued its earnings results on Wednesday, October 21st. The technology company reported $2.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.10. The firm had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $16.82 billion. International Business Machines had a return on equity of 34.37% and a net margin of 15.99%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the business earned $2.65 earnings per share. Equities research analysts expect that International Business Machines Corporation will post 12.41 earnings per share for the current year.
International Business Machines Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Tuesday, November 10th will be given a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Tuesday, November 10th. International Business Machines’s dividend payout ratio (DPR) is currently 57.63%.
Analyst Upgrades and Downgrades
IBM has been the subject of a number of research analyst reports. Truist Financial set a $260.00 target price on shares of International Business Machines in a research report on Thursday, October 22nd. Daiwa Securities Group dropped their target price on shares of International Business Machines from $247.00 to $217.00 and set a “neutral” rating for the company in a research report on Wednesday, July 29th. Evercore reaffirmed an “outperform” rating on shares of International Business Machines in a report on Friday. Bank of America reduced their target price on International Business Machines from $330.00 to $280.00 and set a “buy” rating on the stock in a report on Wednesday, July 15th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $300.00 price target on shares of International Business Machines in a research report on Thursday, October 22nd. Nineteen analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $266.88.
Get Our Latest Research Report on IBM
Insider Buying and Selling at International Business Machines
In related news, SVP Robert Thomas sold 25,000 shares of International Business Machines stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $230.32, for a total transaction of $5,758,000.00. Following the transaction, the senior vice president owned 47,800 shares of the company’s stock, valued at $11,009,296. This trade represents a 34.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is owned by corporate insiders.
International Business Machines Company Profile
International Business Machines Corporation (IBM) is a global technology company that provides software, consulting, infrastructure and related services to businesses and public-sector organizations. Its offerings include hybrid cloud and artificial intelligence solutions, enterprise software, IT consulting, and systems such as IBM Z mainframes and Power servers.
IBM also develops technologies in areas including data management, automation, cybersecurity and quantum computing. Its consulting teams help clients design, build and manage technology systems and business processes.
The company traces its roots to the Computing-Tabulating-Recording Company, formed in 1911, and adopted the name International Business Machines in 1924.
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