Eurizon SLJ Capital Ltd Takes Position in International Business Machines Corporation $IBM

Key Points

• Eurizon SLJ Capital Ltd initiated a new position in IBM during the fourth quarter, buying 2,126 shares valued at about $630,000. Several other hedge funds also added to IBM, and institutional investors now own 58.96% of the stock.
• IBM reported strong quarterly results, with earnings of $1.91 per share beating estimates and revenue of $15.92 billion topping forecasts. Revenue rose 9.5% year over year.
• The company also raised its quarterly dividend to $1.69 per share, and analyst sentiment remains constructive overall, with a Moderate Buy consensus and a target price of $294.41.

Eurizon SLJ Capital Ltd acquired a new position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,126 shares of the technology company's stock, valued at approximately $630,000.

Several other hedge funds have also added to or reduced their stakes in the business. CVA Family Office LLC raised its stake in International Business Machines by 1.4% during the 4th quarter. CVA Family Office LLC now owns 2,389 shares of the technology company's stock worth $708,000 after buying an additional 33 shares during the period. Foster Group Inc. raised its stake in International Business Machines by 1.3% during the 4th quarter. Foster Group Inc. now owns 2,507 shares of the technology company's stock worth $742,000 after buying an additional 33 shares during the period. New Covenant Trust Company N.A. raised its stake in International Business Machines by 3.8% during the 4th quarter. New Covenant Trust Company N.A. now owns 905 shares of the technology company's stock worth $264,000 after buying an additional 33 shares during the period. McGowan Group Asset Management Inc. raised its stake in International Business Machines by 1.2% during the 4th quarter. McGowan Group Asset Management Inc. now owns 2,693 shares of the technology company's stock worth $798,000 after buying an additional 33 shares during the period. Finally, Marco Investment Management LLC raised its stake in International Business Machines by 0.3% during the 3rd quarter. Marco Investment Management LLC now owns 10,774 shares of the technology company's stock worth $3,040,000 after buying an additional 34 shares during the period. Institutional investors and hedge funds own 58.96% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on IBM. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of International Business Machines in a research note on Thursday. Morgan Stanley raised their price objective on International Business Machines from $215.00 to $225.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 23rd. Erste Group Bank downgraded International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, February 18th. BMO Capital Markets dropped their price objective on International Business Machines from $290.00 to $270.00 and set a "market perform" rating on the stock in a research note on Thursday, April 23rd. Finally, DZ Bank upgraded International Business Machines from a "hold" rating to a "buy" rating and set a $295.00 target price for the company in a report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $294.41.

Key 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 Price Performance

IBM stock opened at $298.26 on Friday. The stock has a 50-day moving average price of $240.16 and a two-hundred day moving average price of $270.98. The stock has a market cap of $280.33 billion, a PE ratio of 26.37, a price-to-earnings-growth ratio of 2.74 and a beta of 0.58. 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 Corporation has a 1 year low of $212.34 and a 1 year high of $324.90.

International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (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 company's revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.60 EPS. Equities analysts forecast that International Business Machines Corporation will post 12.4 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th will be issued a $1.69 dividend. This represents a $6.76 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Friday, May 8th. This is a positive change from International Business Machines's previous quarterly dividend of $1.68. International Business Machines's dividend payout ratio is 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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