International Business Machines Corporation $IBM Shares Acquired by Axxcess Wealth Management LLC

Key Points

• Axxcess Wealth Management LLC sharply increased its IBM stake by 757.3% in the fourth quarter, ending with 363,160 shares worth about $107.6 million.
• IBM reported better-than-expected quarterly results, earning $1.91 per share on $15.92 billion in revenue, while revenue rose 9.5% year over year.
• The company also raised its quarterly dividend to $1.69 per share, and analysts currently rate IBM a Moderate Buy with a consensus price target of $294.41.

Axxcess Wealth Management LLC lifted its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 757.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 363,160 shares of the technology company's stock after acquiring an additional 320,801 shares during the period. Axxcess Wealth Management LLC's holdings in International Business Machines were worth $107,571,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in IBM. Orca Wealth Management LLC boosted its position in International Business Machines by 3.7% during the 4th quarter. Orca Wealth Management LLC now owns 975 shares of the technology company's stock valued at $285,000 after purchasing an additional 35 shares during the period. Diamant Asset Management Inc. boosted its position in International Business Machines by 15.5% during the 4th quarter. Diamant Asset Management Inc. now owns 1,860 shares of the technology company's stock valued at $551,000 after purchasing an additional 250 shares during the period. Van Hulzen Asset Management LLC boosted its position in International Business Machines by 1.4% during the 4th quarter. Van Hulzen Asset Management LLC now owns 114,202 shares of the technology company's stock valued at $33,828,000 after purchasing an additional 1,552 shares during the period. Commonwealth Financial Services LLC boosted its position in International Business Machines by 2.7% during the 4th quarter. Commonwealth Financial Services LLC now owns 2,735 shares of the technology company's stock valued at $810,000 after purchasing an additional 72 shares during the period. Finally, Plan A Wealth LLC boosted its position in International Business Machines by 3.2% during the 4th quarter. Plan A Wealth LLC now owns 2,413 shares of the technology company's stock valued at $715,000 after purchasing an additional 74 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at International Business Machines

In other news, Director Michael Miebach acquired 434 shares of the business's stock in a transaction dated Wednesday, February 25th. The stock was acquired at an average price of $233.33 per share, for a total transaction of $101,265.22. Following the completion of the acquisition, the director directly owned 434 shares in the company, valued at $101,265.22. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.27% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on IBM. Evercore boosted their price target on International Business Machines from $330.00 to $345.00 and gave the stock an "outperform" rating in a research report on Thursday, January 29th. Wedbush reiterated an "outperform" rating on shares of International Business Machines in a research report on Thursday. Stifel Nicolaus reduced their price target on International Business Machines from $340.00 to $290.00 and set a "buy" rating for the company in a research report on Wednesday, April 8th. UBS Group upgraded International Business Machines from a "sell" rating to a "neutral" rating and set a $236.00 price target for the company in a research report on Wednesday, February 25th. Finally, Jefferies Financial Group reduced their price target on International Business Machines from $370.00 to $320.00 and set a "buy" rating for the company in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $294.41.

International Business Machines Trading Up 12.5%

Shares of International Business Machines stock opened at $253.14 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.75. The firm has a market cap of $237.92 billion, a price-to-earnings ratio of 22.38, a price-to-earnings-growth ratio of 2.33 and a beta of 0.58. The business has a fifty day simple moving average of $238.60 and a 200-day simple moving average of $272.57. International Business Machines Corporation has a fifty-two week low of $212.34 and a fifty-two week high of $324.90.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The technology company reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.10. The business had revenue of $15.92 billion during the quarter, compared to analyst estimates 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 firm posted $1.60 earnings per share. On average, equities analysts forecast that International Business Machines Corporation will post 12.4 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company 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 2.7%. This is a positive change from International Business Machines's previous quarterly dividend of $1.68. The ex-dividend date is Friday, May 8th. International Business Machines's payout ratio is currently 59.77%.

Key International Business Machines News

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

• Positive Sentiment: IBM will receive $1 billion of U.S. funding to support a new quantum foundry and wafer manufacturing facility, strengthening its position in the emerging quantum-computing market. IBM and U.S. Department of Commerce Announce America's First Purpose-Built Quantum Foundry, Supported by Proposed $1 Billion CHIPS Award
• Positive Sentiment: The Commerce Department letter of intent and CHIPS-backed investment signal government support for IBM’s quantum roadmap, improving confidence in future growth and commercialization. IBM and U.S. Department of Commerce Announce America's First Purpose-Built Quantum Foundry
• Positive Sentiment: Analyst commentary and options activity suggest traders are betting on further upside as IBM becomes a leading “quantum play” tied to the broader AI boom. Traders think this legacy tech stock is the ultimate quantum play

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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