Chase Investment Counsel Corp Purchases New Stake in International Business Machines Corporation $IBM

Key Points

• Chase Investment Counsel acquired 2,668 IBM shares worth approximately $750,000, while institutional investors collectively own 58.96% of the company.
• Analyst sentiment remains positive overall, with a “Moderate Buy” consensus and an average price target of $265.90, despite differing targets ranging from $175 to $350.
• IBM reported quarterly earnings in line with estimates at $2.93 per share, but revenue of $17.16 billion fell short of expectations; the company declared a $1.69 quarterly dividend, yielding about 2.9%.

Chase Investment Counsel Corp acquired a new position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,668 shares of the technology company's stock, valued at approximately $750,000.

Other large investors also recently added to or reduced their stakes in the company. Orca Wealth Management LLC raised its stake in shares of International Business Machines by 3.7% during the fourth quarter. Orca Wealth Management LLC now owns 975 shares of the technology company's stock worth $285,000 after buying an additional 35 shares during the last quarter. Friday Financial boosted its stake in International Business Machines by 1.9% in the second quarter. Friday Financial now owns 1,903 shares of the technology company's stock valued at $583,000 after acquiring an additional 35 shares during the last quarter. First Command Advisory Services Inc. grew its holdings in International Business Machines by 1.1% during the 4th quarter. First Command Advisory Services Inc. now owns 3,459 shares of the technology company's stock worth $1,025,000 after acquiring an additional 36 shares during the period. Washington Trust Bank grew its holdings in International Business Machines by 2.2% during the 4th quarter. Washington Trust Bank now owns 1,712 shares of the technology company's stock worth $507,000 after acquiring an additional 37 shares during the period. Finally, HORAN Wealth LLC raised its position in shares of International Business Machines by 1.3% during the 4th quarter. HORAN Wealth LLC now owns 2,851 shares of the technology company's stock valued at $844,000 after acquiring an additional 37 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on IBM. Royal Bank Of Canada restated an "outperform" rating and issued a $270.00 price target on shares of International Business Machines in a research report on Tuesday, July 21st. Wedbush set a $350.00 price objective on International Business Machines in a report on Tuesday, June 2nd. HSBC set a $175.00 target price on International Business Machines and gave the company a "reduce" rating in a research note on Thursday, July 16th. Piper Sandler upgraded International Business Machines to an "overweight" rating in a research report on Tuesday, June 23rd. Finally, Morgan Stanley lowered their price target on International Business Machines from $293.00 to $190.00 and set an "equal weight" rating for the company in a research note on Thursday, July 23rd. Sixteen equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, International Business Machines currently has an average rating of "Moderate Buy" and an average target price of $265.90.

Insider Buying and Selling at International Business Machines

In related news, SVP Robert David Thomas sold 25,000 shares of the business's stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $230.32, for a total value of $5,758,000.00. Following the completion of the transaction, the senior vice president directly owned 47,800 shares in the company, valued at approximately $11,009,296. The trade was a 34.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.27% of the stock is owned by company insiders.

International Business Machines Price Performance

IBM opened at $231.12 on Wednesday. The stock has a market cap of $217.75 billion, a P/E ratio of 20.51, a P/E/G ratio of 2.30 and a beta of 0.70. International Business Machines Corporation has a 12 month low of $199.19 and a 12 month high of $332.46. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.63. The company has a fifty day simple moving average of $243.51 and a 200 day simple moving average of $247.61.

International Business Machines (NYSE:IBM - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share for the quarter, hitting the consensus estimate of $2.93. International Business Machines had a return on equity of 35.65% and a net margin of 15.52%.The firm had revenue of $17.16 billion for the quarter, compared to analyst estimates of $17.46 billion. During the same period in the previous year, the company posted $2.80 earnings per share. The company's revenue for the quarter was up 1.1% on a year-over-year basis. On average, research analysts expect that International Business Machines Corporation will post 12.33 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 10th will be issued a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, August 10th. International Business Machines's payout ratio is 59.98%.

Key International Business Machines News

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

• Positive Sentiment: IBM’s acquisition of HRL Laboratories adds silicon-spin qubit, materials and manufacturing expertise that could improve its ability to develop scalable quantum-computing systems. Analysts cited upcoming quantum catalysts, and Susquehanna raised its price target to $235, although it maintained a cautious view. Can IBM’s HRL Acquisition Boost Its Quantum Computing Capabilities?
• Positive Sentiment: A technical analysis article said IBM remains in a longer-term uptrend and could resume advancing if shares clear resistance near $239. A breakout would signal improved buying momentum, though this is a technical rather than fundamental catalyst. Stock of the Day: Will IBM Break Out and Head Higher?
• Neutral Sentiment: New market reports identify IBM as a participant in expanding enterprise blockchain, UNIX, business service management, computer-based sensing, biological computing and high-throughput computing markets. These reports point to broad industry growth but provide limited evidence of immediate revenue or earnings impact for IBM. IBM Emerges as a Leading Enterprise Blockchain Provider
• Negative Sentiment: IBM’s reported year-to-date decline reflects concerns about AI-driven disruption to legacy services, pricing pressure and downward earnings estimates. Hybrid cloud and watsonx remain potential offsets, but investors are questioning whether growth in those businesses can compensate for weakness elsewhere. IBM Slumps 21% YTD: Time to Reassess the Stock?
• Negative Sentiment: Coverage also highlighted IBM’s revenue miss, which contributed to a sharp selloff, and noted that the stock has underperformed the S&P 500. A pending securities-fraud investigation and a senior executive’s multimillion-dollar stock sale add further overhang, although neither necessarily changes IBM’s underlying business outlook. IBM Securities Fraud Investigation

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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