International Business Machines Corporation $IBM Shares Purchased by Cary Street Partners Financial LLC

Key Points

• Cary Street Partners Financial LLC increased its IBM stake by 12% in the fourth quarter, adding 3,045 shares to bring its total to 28,397 shares valued at about $8.4 million.
• IBM reported better-than-expected first-quarter results, posting EPS of $1.91 versus estimates of $1.81 and revenue of $15.92 billion, up 9.5% year over year.
• The company also raised its quarterly dividend to $1.69 per share, implying an annualized dividend of $6.76 and a yield of about 2.7%.

Cary Street Partners Financial LLC boosted its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 12.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,397 shares of the technology company's stock after acquiring an additional 3,045 shares during the period. Cary Street Partners Financial LLC's holdings in International Business Machines were worth $8,412,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of IBM. Vanguard Group Inc. increased its holdings in shares of International Business Machines by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 97,216,131 shares of the technology company's stock valued at $28,796,390,000 after purchasing an additional 1,439,824 shares during the last quarter. Capital World Investors grew its holdings in International Business Machines by 13.9% in the 3rd quarter. Capital World Investors now owns 17,045,156 shares of the technology company's stock valued at $4,809,461,000 after buying an additional 2,077,506 shares in the last quarter. Legal & General Group Plc grew its holdings in International Business Machines by 2.5% in the 3rd quarter. Legal & General Group Plc now owns 7,302,722 shares of the technology company's stock valued at $2,060,536,000 after buying an additional 176,219 shares in the last quarter. Amundi increased its stake in shares of International Business Machines by 17.9% in the 3rd quarter. Amundi now owns 4,777,516 shares of the technology company's stock worth $1,382,695,000 after acquiring an additional 725,191 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of International Business Machines by 2.2% during the 3rd quarter. Invesco Ltd. now owns 3,921,228 shares of the technology company's stock worth $1,106,414,000 after acquiring an additional 86,123 shares during the period. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Stock Performance

NYSE IBM opened at $251.69 on Wednesday. The stock has a fifty day simple moving average of $238.94 and a 200-day simple moving average of $271.49. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75. The stock has a market cap of $236.56 billion, a PE ratio of 22.25, a P/E/G ratio of 2.63 and a beta of 0.58. International Business Machines Corporation has a twelve month low of $212.34 and a twelve month high of $324.90.

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, beating the consensus estimate 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 firm had revenue of $15.92 billion for the quarter, compared to analyst estimates of $15.60 billion. During the same period in the previous year, the firm earned $1.60 EPS. International Business Machines's revenue was up 9.5% on a year-over-year basis. Equities analysts anticipate that International Business Machines Corporation will post 12.4 earnings per share for the current 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. The ex-dividend date is Friday, May 8th. This represents a $6.76 annualized dividend and a dividend yield of 2.7%. This is an increase from International Business Machines's previous quarterly dividend of $1.68. International Business Machines's dividend payout ratio (DPR) is currently 59.77%.

More International Business Machines News

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

• Positive Sentiment: IBM is being seen as a key beneficiary of the U.S. government’s quantum computing funding plan, which has boosted enthusiasm for its quantum ambitions and may provide additional support for the stock. Article Title
• Positive Sentiment: IBM signed a five-year global technology modernization agreement with Abertis, a new enterprise deal that could add to consulting revenue and reinforce IBM’s role in digital transformation projects. Article Title
• Neutral Sentiment: Commentary from analysts and media outlets suggests IBM’s quantum business is helping investor sentiment, but the near-term move is also tied to broader excitement across quantum stocks and ETFs rather than IBM-specific earnings changes. Article Title
• Negative Sentiment: Some recent coverage notes IBM has struggled over the past year and remains under pressure versus its longer-term trend, which may temper investor enthusiasm despite the latest positive headlines. Article Title

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Jefferies Financial Group lowered their price target on shares of International Business Machines from $370.00 to $320.00 and set a "buy" rating on the stock in a research report on Monday, April 20th. BMO Capital Markets reduced their target price on shares of 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. DZ Bank raised shares of International Business Machines from a "hold" rating to a "buy" rating and set a $295.00 target price on the stock in a research note on Friday, April 24th. Erste Group Bank lowered shares of International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday, February 18th. Finally, UBS Group upgraded shares of International Business Machines from a "sell" rating to a "neutral" rating and set a $236.00 price target for the company in a report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, International Business Machines has a consensus rating of "Moderate Buy" and an average price target of $294.41.

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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