18,427 Shares of International Business Machines Corporation $IBM Bought by Associated Banc Corp

Key Points

• Associated Banc Corp initiated a position in IBM, buying 18,427 shares worth approximately $4.05 million in the third quarter. Institutional investors and hedge funds collectively own 58.96% of IBM shares.
• IBM beat quarterly estimates, reporting earnings of $2.95 per share versus $2.85 expected and revenue of $17.10 billion versus $16.82 billion expected; revenue rose 4.7% year over year.
• IBM declared a quarterly dividend of $1.69 per share, equivalent to an annualized $6.76 and a 2.7% yield. Analysts’ average rating is “Moderate Buy,” with a consensus price target of $266.12.

Associated Banc Corp purchased a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 18,427 shares of the technology company's stock, valued at approximately $4,053,000.

Several other institutional investors have also recently modified their holdings of the stock. Friday Financial raised its position in shares of International Business Machines by 1.9% in the 2nd quarter. Friday Financial now owns 1,903 shares of the technology company's stock worth $583,000 after buying an additional 35 shares during the period. Trinity Wealth Management LLC grew its position in International Business Machines by 2.3% in the second quarter. Trinity Wealth Management LLC now owns 1,695 shares of the technology company's stock valued at $477,000 after acquiring an additional 38 shares in the last quarter. Pettinga Financial Advisors LLC increased its stake in International Business Machines by 3.6% during the 2nd quarter. Pettinga Financial Advisors LLC now owns 1,090 shares of the technology company's stock worth $307,000 after buying an additional 38 shares during the period. HHM Wealth Advisors LLC lifted its stake in shares of International Business Machines by 4.6% in the second quarter. HHM Wealth Advisors LLC now owns 928 shares of the technology company's stock worth $261,000 after acquiring an additional 41 shares in the last quarter. Finally, CKW Financial Group boosted its stake in shares of International Business Machines by 2.1% during the 3rd quarter. CKW Financial Group now owns 2,024 shares of the technology company's stock valued at $457,000 after buying an additional 41 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting International Business Machines

Here are the key news stories impacting International Business Machines this week:

• Positive Sentiment: IBM hardware was used in a quantum-encryption trial with Quantum X Labs, demonstrating a potential commercial use for its Heron r2 processor in securing sensitive communications. This could help showcase IBM’s quantum infrastructure beyond research. International Business Machines Puts Quantum Encryption To Work On Heron R2
• Positive Sentiment: A separate report highlighted IBM’s AI agent, security and infrastructure launches, along with its renewal as the U.S. Open’s AI and cloud partner through 2031. These offerings and the partnership may reinforce IBM’s positioning in enterprise AI and cloud services. How Investors Are Reacting To IBM AI Product Launches
• Neutral Sentiment: Coverage noted that IBM’s shares had fallen 18.5% over the past year amid AI-disruption worries, margin pressure and stiff competition. Hybrid-cloud demand and rising earnings estimates were cited as potential offsets, leaving the outlook mixed. IBM Plummets 18.5% in the Past Year: Time to Reassess the Stock?
• Negative Sentiment: A comparison with Salesforce characterized IBM’s sales growth as slower and revenue as more volatile, which could weigh on investor confidence in the consistency of its expansion. Salesforce vs. IBM: Comparing Consistent Revenue Expansion Against Slow Sales Growth

International Business Machines Trading Up 1.8%

International Business Machines stock opened at $254.50 on Thursday. International Business Machines Corporation has a one year low of $199.19 and a one year high of $332.46. The company's fifty day moving average price is $236.29 and its two-hundred day moving average price is $249.17. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.85 and a quick ratio of 0.80. The company has a market capitalization of $240.53 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 2.46 and a beta of 0.78.

International Business Machines (NYSE:IBM - Get Free Report) last posted its earnings results on Wednesday, October 21st. The technology company reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.10. The firm had revenue of $17.10 billion during the quarter, compared to analyst estimates 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 for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.65 EPS. On average, analysts forecast that International Business Machines Corporation will post 12.41 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm 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 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, November 10th. International Business Machines's dividend payout ratio is 57.63%.

Analyst Ratings Changes

Several equities analysts have recently commented on IBM shares. Daiwa Securities Group reduced their price target on shares of International Business Machines from $247.00 to $217.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 29th. Truist Financial set a $260.00 target price on International Business Machines in a research note on Thursday, October 22nd. Weiss Ratings cut shares of International Business Machines from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, October 29th. Citigroup lifted their target price on International Business Machines from $245.00 to $280.00 and gave the stock a "buy" rating in a report on Thursday, October 22nd. Finally, Evercore reduced their target price on International Business Machines from $310.00 to $250.00 and set an "outperform" rating for the company in a report on Thursday, July 16th. Nineteen research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $266.12.

Insider Activity

In other International Business Machines news, SVP Robert Thomas sold 25,000 shares of International Business Machines stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $230.32, for a total transaction of $5,758,000.00. Following the completion of the transaction, the senior vice president directly owned 47,800 shares of the company's stock, valued at approximately $11,009,296. This trade represents a 34.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.27% of the company's stock.

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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