International Business Machines Corporation $IBM Shares Bought by LGT Fund Management Co Ltd.

Key Points

• LGT Fund Management increased its stake in IBM by 211.7% in the first quarter, buying 16,803 additional shares and lifting its total holding to 24,740 shares worth about $5.997 million.
• IBM recently reported better-than-expected quarterly results, with earnings of $1.91 per share and revenue of $15.92 billion, both above analyst estimates. Revenue rose 9.5% year over year.
• The company also raised its quarterly dividend to $1.69 per share, while analysts currently maintain a Moderate Buy consensus with an average price target of $306.28 despite some mixed recent rating changes.

LGT Fund Management Co Ltd. raised its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 211.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,740 shares of the technology company's stock after purchasing an additional 16,803 shares during the period. LGT Fund Management Co Ltd.'s holdings in International Business Machines were worth $5,997,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. CVA Family Office LLC lifted its stake in International Business Machines by 1.4% in the 4th quarter. CVA Family Office LLC now owns 2,389 shares of the technology company's stock valued at $708,000 after buying an additional 33 shares in the last quarter. Foster Group Inc. grew its holdings 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 valued at $742,000 after buying an additional 33 shares during the last quarter. New Covenant Trust Company N.A. raised its holdings in shares of International Business Machines by 3.8% in the fourth quarter. New Covenant Trust Company N.A. now owns 905 shares of the technology company's stock worth $264,000 after acquiring an additional 33 shares during the last quarter. McGowan Group Asset Management Inc. lifted its position in shares of International Business Machines by 1.2% in the fourth quarter. McGowan Group Asset Management Inc. now owns 2,693 shares of the technology company's stock valued at $798,000 after acquiring an additional 33 shares in the last quarter. Finally, Sandbox Financial Partners LLC lifted its position in shares of International Business Machines by 0.4% in the fourth quarter. Sandbox Financial Partners LLC now owns 8,969 shares of the technology company's stock valued at $2,657,000 after acquiring an additional 34 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on IBM shares. Wolfe Research cut International Business Machines to a "peer perform" rating in a research report on Tuesday, June 23rd. Piper Sandler upgraded shares of International Business Machines to an "overweight" rating in a report on Tuesday, June 23rd. Oppenheimer lowered their price target on shares of International Business Machines from $380.00 to $320.00 and set an "outperform" rating for the company in a report on Thursday, April 16th. JPMorgan Chase & Co. raised shares of International Business Machines from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $270.00 to $291.00 in a research report on Tuesday, June 23rd. Finally, Citigroup raised their target price on shares of International Business Machines from $285.00 to $375.00 and gave the stock a "buy" rating in a research report on Tuesday, June 2nd. Sixteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $306.28.

International Business Machines Trading Down 2.5%

International Business Machines stock traded down $7.45 during trading on Friday, reaching $287.85. The company had a trading volume of 3,633,419 shares, compared to its average volume of 7,627,529. International Business Machines Corporation has a 12-month low of $212.34 and a 12-month high of $332.46. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.80. The stock's 50 day moving average price is $263.77 and its two-hundred day moving average price is $266.17. The firm has a market capitalization of $270.55 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 2.78 and a beta of 0.68.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share for the quarter, beating analysts' consensus estimates of $1.81 by $0.10. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The company had revenue of $15.92 billion for the quarter, compared to analyst estimates of $15.60 billion. During the same quarter last year, the business earned $1.60 EPS. International Business Machines's revenue for the quarter was up 9.5% on a year-over-year basis. As a group, equities analysts expect that International Business Machines Corporation will post 12.45 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 8th were given a $1.69 dividend. This is an increase from International Business Machines's previous quarterly dividend of $1.68. The ex-dividend date of this dividend was Friday, May 8th. This represents a $6.76 annualized dividend and a dividend yield of 2.3%. International Business Machines's dividend payout ratio is 59.77%.

Key Stories Impacting International Business Machines

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

• Positive Sentiment: IBM continues to get credit for growth in quantum computing and AI, including new enterprise software tools and multi-agent capabilities that could support future revenue. IBM Advances Enterprise AI Software Development with Multi-Agent Capabilities and Specialized Modernization Workflows
• Positive Sentiment: The stock still has implied upside to Susquehanna’s target, suggesting analysts see value if IBM can convert its AI and quantum strengths into stronger earnings growth. Susquehanna coverage note
• Neutral Sentiment: IBM’s latest product updates for its Bob platform and other AI tools reinforce its enterprise strategy, but these launches are not yet enough to change the near-term investment view. IBM Upgrades Bob With Multi-Agent AI
• Negative Sentiment: Starbucks’ move to build internal AI tools to replace Microsoft and IBM software highlights a potential risk to IBM’s enterprise software revenue if other large customers follow suit. There Are So Many Reasons to Like IBM Right Now—Just Not Enough to Buy the Stock
• Negative Sentiment: Analysts remain cautious heading into IBM’s upcoming Q2 earnings, with concerns that AI could pressure parts of the consulting and mainframe business even as newer growth areas expand. Susquehanna Praises IBM’s Quantum and AI Growth but Rates the Stock a Hold – Here’s Why

About International Business Machines

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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