Global Retirement Partners LLC Buys Shares of 31,616 International Business Machines Corporation $IBM

Key Points

• Global Retirement Partners purchased 31,616 IBM shares worth approximately $8.9 million in the second quarter. Institutional investors collectively own 58.96% of IBM.
• Analysts maintain a “Moderate Buy” consensus, with 16 Buy, 11 Hold and one Sell rating and an average price target of $265.90, despite several recent target reductions.
• IBM reported quarterly EPS of $2.93, in line with estimates, while revenue rose 1.1% year over year to $17.16 billion but fell short of expectations. The company also announced a quarterly dividend of $1.69 per share, representing a 2.9% annualized yield.

Global Retirement Partners LLC bought a new stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 31,616 shares of the technology company's stock, valued at approximately $8,891,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in IBM. Basepoint Wealth LLC bought a new stake in International Business Machines in the fourth quarter worth $25,000. Portus Wealth Advisors LLC bought a new position in shares of International Business Machines during the first quarter valued at $26,000. Cornerstone Financial Management LLC bought a new position in shares of International Business Machines during the fourth quarter valued at $28,000. SWAN Capital LLC purchased a new position in shares of International Business Machines in the 3rd quarter worth about $28,000. Finally, Bare Financial Services Inc raised its position in shares of International Business Machines by 114.6% in the 2nd quarter. Bare Financial Services Inc now owns 103 shares of the technology company's stock worth $29,000 after purchasing an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. The Goldman Sachs Group set a $270.00 price objective on shares of International Business Machines in a research report on Thursday, July 23rd. Susquehanna upped their target price on shares of International Business Machines from $225.00 to $235.00 and gave the stock a "neutral" rating in a research note on Monday. Argus cut their price target on shares of International Business Machines from $360.00 to $280.00 and set a "buy" rating on the stock in a report on Thursday, July 16th. Stifel Nicolaus reduced their price target on shares of International Business Machines from $290.00 to $235.00 and set a "buy" rating for the company in a research report on Monday, July 20th. Finally, Citigroup decreased their price objective on shares of International Business Machines from $255.00 to $245.00 and set a "buy" rating for the company in a report on Friday, July 24th. Sixteen research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $265.90.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $231.12 on Wednesday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.74 and a current ratio of 0.79. The firm has a market cap of $217.75 billion, a price-to-earnings ratio of 20.51, a price-to-earnings-growth ratio of 2.30 and a beta of 0.70. The business has a 50-day simple moving average of $243.51 and a two-hundred day simple moving average of $247.61. International Business Machines Corporation has a fifty-two week low of $199.19 and a fifty-two week high of $332.46.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $2.93. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. The firm had revenue of $17.16 billion for the quarter, compared to the consensus estimate of $17.46 billion. During the same quarter last year, the firm posted $2.80 EPS. The business's quarterly revenue was up 1.1% compared to the same quarter last year. On average, analysts expect that International Business Machines Corporation will post 12.33 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 10th will be issued a $1.69 dividend. The ex-dividend date is Monday, August 10th. This represents a $6.76 annualized dividend and a yield of 2.9%. International Business Machines's dividend payout ratio (DPR) is currently 59.98%.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 25,000 shares of International Business Machines stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $230.32, for a total value of $5,758,000.00. Following the completion of the sale, the senior vice president owned 47,800 shares of the company's stock, valued at approximately $11,009,296. The trade was a 34.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.27% of the company's stock.

Key International Business Machines News

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

• Positive Sentiment: IBM’s acquisition of HRL Laboratories adds silicon-spin qubit, materials and manufacturing expertise that could improve its ability to develop scalable quantum-computing systems. Analysts cited upcoming quantum catalysts, and Susquehanna raised its price target to $235, although it maintained a cautious view. Can IBM’s HRL Acquisition Boost Its Quantum Computing Capabilities?
• Positive Sentiment: A technical analysis article said IBM remains in a longer-term uptrend and could resume advancing if shares clear resistance near $239. A breakout would signal improved buying momentum, though this is a technical rather than fundamental catalyst. Stock of the Day: Will IBM Break Out and Head Higher?
• Neutral Sentiment: New market reports identify IBM as a participant in expanding enterprise blockchain, UNIX, business service management, computer-based sensing, biological computing and high-throughput computing markets. These reports point to broad industry growth but provide limited evidence of immediate revenue or earnings impact for IBM. IBM Emerges as a Leading Enterprise Blockchain Provider
• Negative Sentiment: IBM’s reported year-to-date decline reflects concerns about AI-driven disruption to legacy services, pricing pressure and downward earnings estimates. Hybrid cloud and watsonx remain potential offsets, but investors are questioning whether growth in those businesses can compensate for weakness elsewhere. IBM Slumps 21% YTD: Time to Reassess the Stock?
• Negative Sentiment: Coverage also highlighted IBM’s revenue miss, which contributed to a sharp selloff, and noted that the stock has underperformed the S&P 500. A pending securities-fraud investigation and a senior executive’s multimillion-dollar stock sale add further overhang, although neither necessarily changes IBM’s underlying business outlook. IBM Securities Fraud Investigation

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.

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