Carroll Advisory Group LLC Acquires Shares of 15,061 International Business Machines Corporation $IBM

Key Points

• Carroll Advisory Group disclosed a new fourth-quarter stake in IBM, buying 15,061 shares valued at about $4.46 million. IBM now makes up 1.9% of the firm’s portfolio.
• IBM is drawing increased attention from institutions and analysts, with several funds raising holdings and Wall Street maintaining a Moderate Buy consensus. The average price target stands at $294.41, though some firms have recently trimmed targets.
• The company is benefiting from momentum around its quantum computing push, including a planned U.S. quantum foundry backed by proposed federal CHIPS support. IBM also posted better-than-expected quarterly results and raised its dividend slightly to $1.69 per share.

Carroll Advisory Group LLC acquired a new stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 15,061 shares of the technology company's stock, valued at approximately $4,461,000. International Business Machines comprises 1.9% of Carroll Advisory Group LLC's holdings, making the stock its 14th largest position.

A number of other institutional investors have also modified their holdings of the stock. VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in shares of International Business Machines by 424.6% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 260,740 shares of the technology company's stock valued at $77,234,000 after purchasing an additional 211,040 shares in the last quarter. GLOBALT Investments LLC GA increased its stake in shares of International Business Machines by 19.1% in the 4th quarter. GLOBALT Investments LLC GA now owns 18,288 shares of the technology company's stock valued at $5,417,000 after purchasing an additional 2,930 shares in the last quarter. Waverton Investment Management Ltd increased its stake in shares of International Business Machines by 3.3% in the 3rd quarter. Waverton Investment Management Ltd now owns 993,743 shares of the technology company's stock valued at $280,439,000 after purchasing an additional 32,072 shares in the last quarter. Newbridge Financial Services Group Inc. increased its stake in shares of International Business Machines by 30.0% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 13,122 shares of the technology company's stock valued at $3,887,000 after purchasing an additional 3,029 shares in the last quarter. Finally, NEOS Investment Management LLC increased its stake in shares of International Business Machines by 51.7% in the 3rd quarter. NEOS Investment Management LLC now owns 114,395 shares of the technology company's stock valued at $32,278,000 after purchasing an additional 38,973 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

Analysts Set New Price Targets

IBM has been the subject of several recent analyst reports. Jefferies Financial Group cut their price target on International Business Machines from $370.00 to $320.00 and set a "buy" rating for the company in a research note on Monday, April 20th. Stifel Nicolaus set a $290.00 price target on International Business Machines in a research note on Friday. Wedbush restated an "outperform" rating on shares of International Business Machines in a research note on Thursday. Erste Group Bank lowered International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, February 18th. Finally, Citigroup initiated coverage on International Business Machines in a research note on Friday, April 10th. They issued a "buy" rating and a $285.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, International Business Machines has a consensus rating of "Moderate Buy" and an average price target of $294.41.

International Business Machines News Roundup

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

• Positive Sentiment: IBM and the U.S. Commerce Department announced a plan to launch America’s first purpose-built quantum foundry, with IBM set to receive the largest share of federal support and contribute matching capital. IBM and U.S. Department of Commerce Announce America's First Purpose-Built Quantum Foundry, Supported by Proposed $1 Billion CHIPS Award
• Positive Sentiment: Analysts and media reports say the quantum funding package is a major new catalyst for IBM, helping drive strong share-price momentum and lifting sentiment around the stock’s long-term growth prospects. IBM shares extend rally as Wedbush calls US quantum investment a "new catalyst"
• Positive Sentiment: IBM’s push into quantum computing and related hot tech segments is being viewed as evidence the company is expanding beyond legacy businesses into higher-growth opportunities. Why IBM Stock Was Rocking it This Week
• Neutral Sentiment: Some coverage highlights that IBM’s valuation, debt load, and execution risk will matter as the company commits capital to the quantum foundry project. IBM’s US$1b Anderon Quantum Foundry Puts Valuation And Debt In Focus

Insider Transactions at International Business Machines

In other news, Director Michael Miebach acquired 434 shares of the stock in a transaction that occurred on Wednesday, February 25th. The shares were bought at an average cost of $233.33 per share, for a total transaction of $101,265.22. Following the acquisition, the director owned 434 shares in the company, valued at approximately $101,265.22. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.27% of the company's stock.

International Business Machines Trading Up 0.4%

IBM stock opened at $253.88 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75. International Business Machines Corporation has a 12-month low of $212.34 and a 12-month high of $324.90. The stock has a market cap of $238.62 billion, a price-to-earnings ratio of 22.45, a PEG ratio of 2.63 and a beta of 0.58. The business's 50-day moving average is $238.70 and its 200 day moving average is $272.44.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.10. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The company had revenue of $15.92 billion for the quarter, compared to analysts' expectations of $15.60 billion. During the same period in the previous year, the firm posted $1.60 EPS. International Business Machines's revenue was up 9.5% compared to the same quarter last year. On average, sell-side analysts anticipate that International Business Machines Corporation will post 12.4 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 8th will be issued a $1.69 dividend. This represents a $6.76 annualized dividend and a yield of 2.7%. The ex-dividend date is Friday, May 8th. This is a positive change from International Business Machines's previous quarterly dividend of $1.68. International Business Machines's payout ratio is presently 59.77%.

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.

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