Diamant Asset Management Inc. Purchases 448,985 Shares of International Business Machines Corporation $IBM

Key Points

• Diamant Asset Management massively increased its IBM stake in the first quarter, buying 448,985 shares and lifting its position to 450,845 shares valued at about $109.3 million.
• IBM reported better-than-expected quarterly results, with earnings of $1.91 per share and revenue of $15.92 billion, both above analyst estimates.
• The company also raised its quarterly dividend to $1.69 per share, and analysts currently rate IBM as a Moderate Buy with an average target price of $306.94.

Diamant Asset Management Inc. boosted its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 24,139.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 450,845 shares of the technology company's stock after buying an additional 448,985 shares during the quarter. Diamant Asset Management Inc.'s holdings in International Business Machines were worth $109,280,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Family CFO Inc acquired a new stake in shares of International Business Machines in the fourth quarter valued at about $25,000. Basepoint Wealth LLC acquired a new position in shares of International Business Machines during the 4th quarter worth about $25,000. Joseph Group Capital Management acquired a new position in shares of International Business Machines during the 4th quarter worth about $28,000. Cornerstone Financial Management LLC bought a new stake in International Business Machines during the 4th quarter valued at approximately $28,000. Finally, SWAN Capital LLC acquired a new stake in International Business Machines in the 3rd quarter valued at approximately $28,000. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $271.36 on Friday. International Business Machines Corporation has a 1-year low of $212.34 and a 1-year high of $332.46. The firm has a market capitalization of $255.05 billion, a PE ratio of 23.99, a PEG ratio of 2.81 and a beta of 0.67. The business's 50 day moving average is $253.83 and its 200-day moving average is $267.26. 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 (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 business had revenue of $15.92 billion for the quarter, compared to analysts' expectations of $15.60 billion. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.International Business Machines's quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.60 earnings per share. Sell-side analysts predict that International Business Machines Corporation will post 12.39 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th were issued a $1.69 dividend. This is a boost from International Business Machines's previous quarterly dividend of $1.68. The ex-dividend date of this dividend was Friday, May 8th. This represents a $6.76 annualized dividend and a yield of 2.5%. International Business Machines's payout ratio is presently 59.77%.

Key International Business Machines News

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

• Positive Sentiment: IBM introduced a new “nanostack” chip architecture at the 0.7 nm node, with roughly 100 billion transistors on a fingernail-sized chip. Analysts at Wedbush said the development supports IBM’s long-term hardware ambitions as AI computing demand rises. IBM quantum foundry plan adds to long-term hardware strategy: Wedbush
• Positive Sentiment: Multiple reports said the announcement could extend Moore’s Law and improve chip performance and energy efficiency, reinforcing IBM’s relevance in next-generation AI infrastructure. IBM unveils tech for chip smaller than 1 nanometer in AI computing push
• Positive Sentiment: Investor sentiment also improved after commentary that the breakthrough positions IBM as a possible long-term winner in AI hardware, helping fuel the stock’s recent momentum. IBM Unveils Prototype for Sub-1-Nanometer AI Chip. Why It Matters.
• Neutral Sentiment: Some coverage noted the technology is still a research prototype and may not reach production for years, so the commercial impact is not immediate. IBM (IBM) Stock Surges 6% on Revolutionary Sub-Nanometer Chip Technology
• Negative Sentiment: One article argued IBM still faces skepticism from investors over execution and longer-term growth, even after the chip news, which could temper enthusiasm. 3 Reasons to Avoid IBM and 1 Stock to Buy Instead

Analyst Upgrades and Downgrades

IBM has been the subject of a number of research analyst reports. Stifel Nicolaus set a $290.00 price target on International Business Machines in a report on Friday, May 22nd. Oppenheimer dropped their target price on shares of International Business Machines from $380.00 to $320.00 and set an "outperform" rating on the stock in a research report on Thursday, April 16th. DZ Bank upgraded shares of International Business Machines from a "hold" rating to a "buy" rating and set a $295.00 target price for the company in a research note on Friday, April 24th. Royal Bank Of Canada reissued an "outperform" rating on shares of International Business Machines in a report on Tuesday. Finally, Wall Street Zen upgraded shares of International Business Machines from a "sell" rating to a "hold" rating in a research report on Sunday, June 21st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, International Business Machines has a consensus rating of "Moderate Buy" and an average target price of $306.94.

International Business Machines 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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