Eurizon Capital SGR S.p.A. Buys Shares of 380,592 International Business Machines Corporation $IBM

Key Points

• Eurizon Capital SGR S.p.A. disclosed a new fourth-quarter stake in IBM, buying 380,592 shares worth about $113.0 million.
• IBM reported better-than-expected quarterly results, with earnings of $1.91 per share and revenue of $15.92 billion, both above Wall Street estimates.
• The company also raised its quarterly dividend to $1.69 per share, while analysts currently view the stock as a Moderate Buy with an average target price of $294.41.

Eurizon Capital SGR S.p.A. bought a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 380,592 shares of the technology company's stock, valued at approximately $113,024,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Family CFO Inc purchased a new position in shares of International Business Machines in the fourth quarter valued at $25,000. Basepoint Wealth LLC acquired a new position in International Business Machines during the fourth quarter worth about $25,000. Joseph Group Capital Management purchased a new stake in shares of International Business Machines in the fourth quarter valued at about $28,000. SWAN Capital LLC purchased a new stake in shares of International Business Machines in the third quarter valued at about $28,000. Finally, DecisionPoint Financial LLC grew its position in shares of International Business Machines by 1,666.7% in the fourth quarter. DecisionPoint Financial LLC now owns 106 shares of the technology company's stock valued at $31,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Trading Up 12.9%

International Business Machines stock opened at $298.26 on Friday. The stock has a market cap of $280.33 billion, a PE ratio of 26.37, a P/E/G ratio of 2.74 and a beta of 0.58. The stock has a 50-day moving average price of $240.16 and a 200 day moving average price of $270.98. 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.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The technology company reported $1.91 EPS for the quarter, topping analysts' consensus estimates of $1.81 by $0.10. The firm had revenue of $15.92 billion during 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%.The firm's quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.60 EPS. Equities research analysts predict that International Business Machines Corporation will post 12.4 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th will be issued a $1.69 dividend. This is a positive change 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 yield of 2.3%. International Business Machines's dividend payout ratio (DPR) is presently 59.77%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on IBM shares. Weiss Ratings downgraded International Business Machines from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, May 21st. DZ Bank raised International Business Machines from a "hold" rating to a "buy" rating and set a $295.00 target price on the stock in a research note on Friday, April 24th. Jefferies Financial Group reduced their target price on International Business Machines from $370.00 to $320.00 and set a "buy" rating on the stock in a research note on Monday, April 20th. JPMorgan Chase & Co. reduced their target price on International Business Machines from $317.00 to $283.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 18th. Finally, HSBC raised International Business Machines from a "reduce" rating to a "hold" rating and upped their target price for the company from $218.00 to $231.00 in a research note on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, International Business Machines currently has a consensus rating of "Moderate Buy" and an average target price of $294.41.

More International Business Machines News

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

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.