Core Wealth Advisors LLC Takes Position in International Business Machines Corporation $IBM

Key Points

• Core Wealth Advisors LLC disclosed a new stake in IBM, buying 4,576 shares valued at about $1.355 million. IBM now makes up roughly 0.8% of the firm’s portfolio and is its 15th-largest holding.
• IBM is drawing attention for major strategic investments, including a more than $10 billion quantum computing plan and a $5 billion AI-and-open-source security initiative with Red Hat.
• The company recently beat quarterly expectations, posting $1.91 EPS and $15.92 billion in revenue, while also raising its quarterly dividend to $1.69 per share.

Core Wealth Advisors LLC acquired a new stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,576 shares of the technology company's stock, valued at approximately $1,355,000. International Business Machines accounts for approximately 0.8% of Core Wealth Advisors LLC's holdings, making the stock its 15th largest holding.

Several other institutional investors also recently made changes to their positions in the stock. Basepoint Wealth LLC purchased a new stake in International Business Machines during the 4th quarter worth $25,000. Family CFO Inc acquired a new stake in shares of International Business Machines in the fourth quarter valued at about $25,000. Joseph Group Capital Management acquired a new stake in shares of International Business Machines in the fourth quarter valued at about $28,000. SWAN Capital LLC acquired a new stake in shares of International Business Machines in the third quarter valued at about $28,000. Finally, LFA Lugano Financial Advisors SA acquired a new stake in shares of International Business Machines in the fourth quarter valued at about $31,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting International Business Machines

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

• Positive Sentiment: IBM unveiled a more than $10 billion quantum computing investment plan, reinforcing its leadership in an emerging high-growth market. IBM to invest $10 billion for large-scale quantum computer by 2029
• Positive Sentiment: IBM and Red Hat launched Project Lightwell, a $5 billion push to secure open-source software with AI tools and 20,000 engineers, which could strengthen its enterprise security franchise. IBM and Red Hat Commit $5 Billion to Redefine the Future of Open Source in the AI Era
• Positive Sentiment: Wedbush reiterated an Outperform rating and raised its target to $320, signaling continued analyst confidence in IBM’s upside. IBM Is Chasing A '$1 Trillion Value Creation Engine' — And It's Spending $15 Billion To Get There

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on IBM shares. JPMorgan Chase & Co. lowered their target price on International Business Machines from $317.00 to $283.00 and set a "neutral" rating for the company in a research note on Wednesday, March 18th. BMO Capital Markets cut their price objective on shares of International Business Machines from $290.00 to $270.00 and set a "market perform" rating on the stock in a report on Thursday, April 23rd. DZ Bank upgraded shares of International Business Machines from a "hold" rating to a "buy" rating and set a $295.00 price objective on the stock in a report on Friday, April 24th. Weiss Ratings lowered shares of International Business Machines from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, May 21st. Finally, Erste Group Bank lowered shares of International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $294.41.

International Business Machines Price Performance

NYSE IBM opened at $298.26 on Friday. International Business Machines Corporation has a 52 week low of $212.34 and a 52 week high of $324.90. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75. The stock has a market cap of $280.33 billion, a price-to-earnings ratio of 26.37, a price-to-earnings-growth ratio of 3.08 and a beta of 0.58. The company has a 50-day moving average price of $240.16 and a two-hundred day moving average price of $270.98.

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, beating the consensus estimate of $1.81 by $0.10. The business had revenue of $15.92 billion during the quarter, compared to analysts' expectations of $15.60 billion. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The business's revenue was up 9.5% on a year-over-year basis. During the same period last year, the firm posted $1.60 earnings per share. Analysts forecast that International Business Machines Corporation will post 12.4 EPS for the current year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 8th will be given a $1.69 dividend. This is a boost from International Business Machines's previous quarterly dividend of $1.68. The ex-dividend date is Friday, May 8th. This represents a $6.76 annualized dividend and a dividend yield of 2.3%. International Business Machines's payout ratio is currently 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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