Conning Inc. Boosts Stake in International Business Machines Corporation $IBM

Key Points

• Conning Inc. increased its stake in IBM by 34.9% in the first quarter, buying 37,286 more shares and bringing its total holdings to 144,138 shares valued at about $34.9 million.
• IBM reported better-than-expected Q1 results, with EPS of $1.91 and revenue of $15.92 billion, both topping analyst estimates and rising from a year earlier.
• The company also raised its quarterly dividend to $1.69 per share, while analysts currently rate the stock a Moderate Buy with a consensus price target of $306.28.

Conning Inc. lifted its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 34.9% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 144,138 shares of the technology company's stock after buying an additional 37,286 shares during the period. Conning Inc.'s holdings in International Business Machines were worth $34,938,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brighton Jones LLC boosted its position in 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 purchasing an additional 2,323 shares during the last quarter. Sivia Capital Partners LLC raised its stake in shares of International Business Machines by 10.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,938 shares of the technology company's stock worth $571,000 after purchasing an additional 186 shares during the period. Jump Financial LLC bought a new stake in shares of International Business Machines during the 2nd quarter worth $211,000. Ieq Capital LLC boosted its holdings in shares of 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 buying an additional 843 shares during the last quarter. Finally, Vivaldi Capital Management LP grew its position in shares of 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 valued at $300,000 after acquiring an additional 106 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about International Business Machines

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

• Positive Sentiment: IBM continues to get credit for growth in quantum computing and AI, including new enterprise software tools and multi-agent capabilities that could support future revenue. IBM Advances Enterprise AI Software Development with Multi-Agent Capabilities and Specialized Modernization Workflows
• Positive Sentiment: The stock still has implied upside to Susquehanna’s target, suggesting analysts see value if IBM can convert its AI and quantum strengths into stronger earnings growth. Susquehanna coverage note
• Neutral Sentiment: IBM’s latest product updates for its Bob platform and other AI tools reinforce its enterprise strategy, but these launches are not yet enough to change the near-term investment view. IBM Upgrades Bob With Multi-Agent AI
• Negative Sentiment: Starbucks’ move to build internal AI tools to replace Microsoft and IBM software highlights a potential risk to IBM’s enterprise software revenue if other large customers follow suit. There Are So Many Reasons to Like IBM Right Now—Just Not Enough to Buy the Stock
• Negative Sentiment: Analysts remain cautious heading into IBM’s upcoming Q2 earnings, with concerns that AI could pressure parts of the consulting and mainframe business even as newer growth areas expand. Susquehanna Praises IBM’s Quantum and AI Growth but Rates the Stock a Hold – Here’s Why

International Business Machines Trading Down 2.5%

NYSE:IBM opened at $287.85 on Friday. International Business Machines Corporation has a 1 year low of $212.34 and a 1 year high of $332.46. The stock's fifty day moving average price is $263.77 and its two-hundred day moving average price is $266.17. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.80 and a quick ratio of 0.76. The company has a market cap of $270.55 billion, a P/E ratio of 25.45, a P/E/G ratio of 2.85 and a beta of 0.68.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (EPS) for the quarter, beating 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 return on equity of 37.23% and a net margin of 15.61%.During the same period in the previous year, the company posted $1.60 EPS. The firm's revenue for the quarter was up 9.5% compared to the same quarter last year. As a group, analysts expect that International Business Machines Corporation will post 12.45 EPS for the current year.

International Business Machines Increases Dividend

The company also recently disclosed 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 is an increase from International Business Machines's previous quarterly dividend of $1.68. This represents a $6.76 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Friday, May 8th. International Business Machines's dividend payout ratio is presently 59.77%.

Analyst Ratings Changes

Several brokerages have weighed in on IBM. HSBC raised International Business Machines from a "reduce" rating to a "hold" rating and increased their price objective for the company from $218.00 to $231.00 in a report on Tuesday, April 28th. Needham & Company LLC started coverage on International Business Machines in a research report on Wednesday, June 3rd. They set a "buy" rating on the stock. Royal Bank Of Canada reiterated an "outperform" rating on shares of International Business Machines in a research note on Tuesday, June 23rd. Wedbush set a $350.00 price objective on International Business Machines in a research note on Tuesday, June 2nd. Finally, Oppenheimer dropped their price objective on shares of International Business Machines from $380.00 to $320.00 and set an "outperform" rating on the stock in a report on Thursday, April 16th. Sixteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $306.28.

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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