Cornerstone Wealth Management LLC Acquires 2,584 Shares of International Business Machines Corporation $IBM

Key Points

• Cornerstone Wealth Management increased its IBM stake by 5.9% in the second quarter, adding 2,584 shares for a total of 46,058 shares valued at approximately $12.95 million. Institutional investors collectively own 58.96% of IBM.
• Analyst sentiment remains moderately bullish, with 16 buy, 11 hold and one sell rating and a consensus price target of $265.40, although Jefferies and BMO Capital Markets recently lowered their targets.
• IBM matched earnings expectations at $2.93 per share but reported revenue below forecasts at $17.16 billion; the company also declared a quarterly dividend of $1.69 per share, representing a 2.9% annualized yield.

Cornerstone Wealth Management LLC lifted its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 5.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,058 shares of the technology company's stock after purchasing an additional 2,584 shares during the quarter. Cornerstone Wealth Management LLC's holdings in International Business Machines were worth $12,952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its stake in 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 worth $77,234,000 after purchasing an additional 211,040 shares during the period. Assetmark Inc. raised its position in shares of International Business Machines by 24.8% during the first quarter. Assetmark Inc. now owns 64,458 shares of the technology company's stock valued at $15,624,000 after buying an additional 12,791 shares during the last quarter. GLOBALT Investments LLC GA lifted its holdings in shares of International Business Machines by 19.1% in the fourth quarter. GLOBALT Investments LLC GA now owns 18,288 shares of the technology company's stock worth $5,417,000 after buying an additional 2,930 shares in the last quarter. Rice Partnership LLC purchased a new position in shares of International Business Machines in the fourth quarter worth $3,317,000. Finally, Sage Investment Advisers LLC bought a new position in shares of International Business Machines during the fourth quarter worth $4,101,000. 58.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. Jefferies Financial Group decreased their price target on shares of International Business Machines from $320.00 to $260.00 and set a "buy" rating on the stock in a research note on Tuesday, July 21st. BMO Capital Markets cut their price objective on International Business Machines from $270.00 to $230.00 and set a "market perform" rating for the company in a research report on Thursday, July 23rd. Roth Capital reaffirmed a "buy" rating on shares of International Business Machines in a report on Wednesday, June 3rd. Wolfe Research downgraded shares of International Business Machines to a "peer perform" rating in a research note on Tuesday, June 23rd. Finally, Weiss Ratings downgraded International Business Machines from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, June 24th. Sixteen equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $265.40.

International Business Machines Stock Up 1.1%

NYSE:IBM opened at $236.17 on Friday. International Business Machines Corporation has a 1-year low of $199.19 and a 1-year high of $332.46. The company has a 50-day moving average of $247.18 and a 200 day moving average of $250.88. The firm has a market cap of $222.50 billion, a PE ratio of 20.96, a price-to-earnings-growth ratio of 2.31 and a beta of 0.70. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.79 and a quick ratio of 0.74.

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

International Business Machines Announces Dividend

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 paid a dividend of $1.69 per share. The ex-dividend date is Monday, August 10th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 2.9%. International Business Machines's dividend payout ratio (DPR) is currently 59.98%.

International Business Machines News Roundup

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

• Positive Sentiment: Industry research projects the global hyperscale data-center market will expand from $162.79 billion in 2024 to $608.54 billion by 2030, driven by AI, machine learning and cloud-computing demand. This supports IBM’s infrastructure, consulting and hybrid-cloud opportunities, although the report is not an IBM-specific contract announcement. Hyperscale Data Center Market Surges to $608.54 billion
• Positive Sentiment: IBM’s modular cryogenic technology is designed to help scale its quantum systems toward 1,000 programmable qubits and support its Quantum Starling plans by 2029. The development strengthens IBM’s technology narrative and long-term growth potential, though commercial revenue benefits remain several years away. Can IBM Scale Quantum Computing With Its New Cryogenic Systems?
• Positive Sentiment: A power producer and Cohesive received an award for improving workplace safety using IBM Maximo, providing third-party recognition of the software’s industrial asset-management capabilities. The item is supportive of IBM’s enterprise-software credibility but does not indicate a material near-term financial impact. CEPR and Cohesive Receive Maximo Award
• Neutral Sentiment: A Zacks review notes that IBM has risen 13.1% since its latest earnings report, indicating continued investor support after the results. However, the company’s reported revenue missed expectations while earnings per share matched estimates, leaving valuation and execution important considerations. Why Is IBM Up Since Its Last Earnings Report?
• Negative Sentiment: Bleichmar Fonti & Auld announced an investigation into potential securities-law violations related to IBM’s prior stock decline. The notice appears to be an investor-solicitation announcement rather than a finding of wrongdoing, but it can weigh on sentiment and introduce potential legal risk. IBM Ongoing 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source