Assenagon Asset Management S.A. Buys 111,187 Shares of International Business Machines Corporation $IBM

Key Points

• Assenagon Asset Management S.A. more than doubled its IBM stake in the first quarter, buying 111,187 additional shares and bringing its total holdings to 212,421 shares valued at about $51.5 million.
• IBM is drawing attention for major technology announcements, including claims of the world’s first sub-1 nanometer chip technology and a new 0.7nm “nanostack” architecture, which could support its AI and high-performance computing growth story.
• The company reported better-than-expected quarterly results and also raised its dividend to $1.69 per share, while analysts currently maintain a Moderate Buy consensus with an average price target of $306.94.

Assenagon Asset Management S.A. lifted its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 109.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 212,421 shares of the technology company's stock after acquiring an additional 111,187 shares during the quarter. Assenagon Asset Management S.A.'s holdings in International Business Machines were worth $51,489,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in shares of International Business Machines by 12.4% in the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock worth $4,619,000 after buying an additional 2,323 shares during the last quarter. Sivia Capital Partners LLC grew its stake in International Business Machines by 10.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,938 shares of the technology company's stock valued at $571,000 after buying an additional 186 shares during the last quarter. Jump Financial LLC acquired a new position in International Business Machines in the 2nd quarter valued at $211,000. Ieq Capital LLC raised its holdings in International Business Machines by 2.2% in the 2nd quarter. Ieq Capital LLC now owns 38,617 shares of the technology company's stock worth $11,383,000 after acquiring an additional 843 shares during the period. Finally, Vivaldi Capital Management LP lifted its position in International Business Machines by 11.6% during the 2nd quarter. Vivaldi Capital Management LP now owns 1,017 shares of the technology company's stock worth $300,000 after acquiring an additional 106 shares during the last quarter. 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: IBM unveiled what it says is the world’s first sub-1 nanometer chip technology, a potential industry milestone that could make AI chips smaller, faster, and more energy efficient. Investors are viewing the announcement as evidence that IBM remains an innovation leader in AI infrastructure and advanced computing. Article: Reuters
• Positive Sentiment: Several reports highlighted IBM’s new 0.7nm “nanostack” chip architecture, with claims of materially better performance and energy efficiency. That kind of technical progress can improve IBM’s long-term growth narrative, especially around AI and high-performance computing. Article: PR Newswire
• Positive Sentiment: JPMorgan reportedly upgraded IBM, citing stronger software growth prospects. Analyst upgrades can support the stock by reinforcing expectations for better earnings quality and recurring revenue growth. Article: Insider Monkey
• Positive Sentiment: IBM also drew attention after its OpenAI cybersecurity partnership, which investors may see as a catalyst for growth in enterprise AI and security services. Article: Barchart
• Neutral Sentiment: Some coverage noted that the new chip technology is still several years from commercial production, which may temper near-term enthusiasm even if the long-term story is stronger.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Citigroup lifted their price objective on International Business Machines from $285.00 to $375.00 and gave the stock a "buy" rating in a research note on Tuesday, June 2nd. HSBC raised International Business Machines from a "reduce" rating to a "hold" rating and raised their target price for the company from $218.00 to $231.00 in a report on Tuesday, April 28th. KeyCorp lowered International Business Machines to a "sector weight" rating in a report on Tuesday. Wolfe Research cut International Business Machines to a "peer perform" rating in a research report on Tuesday. Finally, Oppenheimer dropped their target price on shares of 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 equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, International Business Machines currently has a consensus rating of "Moderate Buy" and an average price target of $306.94.

International Business Machines Stock Down 1.8%

Shares of NYSE IBM opened at $258.36 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.75. The company has a market cap of $242.83 billion, a price-to-earnings ratio of 22.84, a price-to-earnings-growth ratio of 2.72 and a beta of 0.67. International Business Machines Corporation has a 12-month low of $212.34 and a 12-month high of $332.46. The firm's 50-day simple moving average is $253.31 and its 200 day simple moving average is $267.23.

International Business Machines (NYSE:IBM - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.81 by $0.10. The company had revenue of $15.92 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.60 earnings per share. On average, research analysts expect that International Business Machines Corporation will post 12.39 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 8th were paid a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a dividend yield of 2.6%. This is a positive change from International Business Machines's previous quarterly dividend of $1.68. The ex-dividend date of this dividend was Friday, May 8th. International Business Machines's payout ratio is presently 59.77%.

About International Business Machines

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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