International Business Machines Corporation $IBM Shares Acquired by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management Holding SA increased its IBM stake by 18.8% in the first quarter, buying an additional 120,687 shares and bringing its total to 761,177 shares worth about $184.5 million.
• IBM reported better-than-expected first-quarter earnings, posting EPS of $1.91 versus $1.81 expected and revenue of $15.92 billion versus $15.60 billion forecast, with revenue up 9.5% year over year.
• The company also raised its quarterly dividend to $1.69 per share, and analysts have recently turned more positive, with several upgrades and an average price target of $306.94.

Pictet Asset Management Holding SA lifted its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 18.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 761,177 shares of the technology company's stock after purchasing an additional 120,687 shares during the quarter. Pictet Asset Management Holding SA owned about 0.08% of International Business Machines worth $184,488,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. CVA Family Office LLC increased its stake in shares of International Business Machines by 1.4% during the fourth quarter. CVA Family Office LLC now owns 2,389 shares of the technology company's stock worth $708,000 after acquiring an additional 33 shares during the period. Foster Group Inc. lifted its position in International Business Machines by 1.3% in the fourth quarter. Foster Group Inc. now owns 2,507 shares of the technology company's stock valued at $742,000 after purchasing an additional 33 shares during the period. New Covenant Trust Company N.A. boosted its holdings in International Business Machines by 3.8% in the 4th quarter. New Covenant Trust Company N.A. now owns 905 shares of the technology company's stock valued at $264,000 after purchasing an additional 33 shares in the last quarter. McGowan Group Asset Management Inc. increased its position 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 purchasing an additional 33 shares during the period. Finally, Altman Advisors Inc. increased its position in International Business Machines by 0.3% during the 3rd quarter. Altman Advisors Inc. now owns 9,929 shares of the technology company's stock worth $2,802,000 after purchasing an additional 34 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $271.36 on Monday. The firm has a market capitalization of $255.05 billion, a price-to-earnings ratio of 23.99, a price-to-earnings-growth ratio of 2.81 and a beta of 0.66. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.80 and a quick ratio of 0.76. The business's 50 day simple moving average is $253.83 and its 200-day simple moving average is $266.96. International Business Machines Corporation has a 12 month low of $212.34 and a 12 month high of $332.46.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate 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%.International Business Machines's revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.60 earnings per share. As a group, equities analysts forecast that International Business Machines Corporation will post 12.39 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

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

Analysts Set New Price Targets

IBM has been the subject of several recent analyst reports. Morgan Stanley raised International Business Machines from an "equal weight" rating to an "overweight" rating in a report on Tuesday, June 23rd. JPMorgan Chase & Co. upgraded International Business Machines from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $270.00 to $291.00 in a research report on Tuesday, June 23rd. Stifel Nicolaus set a $290.00 target price on International Business Machines in a report on Friday, May 22nd. Wedbush set a $350.00 target price on shares of International Business Machines in a research report on Tuesday, June 2nd. Finally, Wolfe Research cut shares of International Business Machines to a "peer perform" rating in a research note on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, International Business Machines currently has an average rating of "Moderate Buy" and an average target price of $306.94.

International Business Machines News Summary

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

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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