International Business Machines Corporation $IBM Shares Purchased by Kimelman & Baird LLC

Key Points

• Kimelman & Baird increased its IBM stake by 1.9% in the third quarter, adding 2,075 shares to hold 110,171 shares valued at about $24.23 million.
• IBM reported quarterly EPS of $2.95, topping the $2.85 estimate, while revenue of $17.10 billion exceeded forecasts and rose 4.7% year over year.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $266.88; the company also announced a quarterly dividend of $1.69 per share.

Kimelman & Baird LLC boosted its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 1.9% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 110,171 shares of the technology company's stock after buying an additional 2,075 shares during the quarter. International Business Machines makes up about 1.7% of Kimelman & Baird LLC's holdings, making the stock its 20th biggest position. Kimelman & Baird LLC's holdings in International Business Machines were worth $24,230,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Harborfront Financial Group LLC acquired a new position in shares of International Business Machines in the second quarter worth $27,000. Hara Capital LLC acquired a new stake in shares of International Business Machines during the second quarter valued at $28,000. Bare Financial Services Inc boosted its stake in shares of International Business Machines by 114.6% during the second quarter. Bare Financial Services Inc now owns 103 shares of the technology company's stock valued at $29,000 after acquiring an additional 55 shares during the last quarter. Caitlin John LLC purchased a new stake in International Business Machines during the 2nd quarter worth about $35,000. Finally, Axiom Investment Management LLC purchased a new stake in International Business Machines during the 1st quarter worth about $36,000. Institutional investors and hedge funds own 58.96% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Royal Bank Of Canada reissued an "outperform" rating and issued a $270.00 target price on shares of International Business Machines in a research note on Thursday, October 22nd. The Goldman Sachs Group reaffirmed a "buy" rating and set a $300.00 price target on shares of International Business Machines in a research note on Thursday, October 22nd. Evercore reiterated an "outperform" rating on shares of International Business Machines in a report on Friday. Argus lowered their price target on shares of International Business Machines from $360.00 to $280.00 and set a "buy" rating for the company in a report on Thursday, July 16th. Finally, UBS Group boosted their price objective on shares of International Business Machines from $236.00 to $243.00 and gave the company a "neutral" rating in a research report on Thursday, October 22nd. Nineteen research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $266.88.

Insiders Place Their Bets

In other International Business Machines news, SVP Robert Thomas sold 25,000 shares of the business's stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $230.32, for a total transaction 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.27% of the company's stock.

International Business Machines Stock Performance

NYSE:IBM opened at $244.71 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 1.57. The company has a market cap of $231.28 billion, a P/E ratio of 20.86, a P/E/G ratio of 2.41 and a beta of 0.78. International Business Machines Corporation has a fifty-two week low of $199.19 and a fifty-two week high of $332.46. The firm's 50 day moving average is $236.76 and its two-hundred day moving average is $248.64.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, October 21st. The technology company reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.10. International Business Machines had a net margin of 15.99% and a return on equity of 34.37%. The company had revenue of $17.10 billion during the quarter, compared to analysts' expectations of $16.82 billion. During the same period in the previous year, the company earned $2.65 EPS. The business's quarterly revenue was up 4.7% compared to the same quarter last year. Analysts expect that International Business Machines Corporation will post 12.41 EPS for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Tuesday, November 10th will be given a $1.69 dividend. This represents a $6.76 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Tuesday, November 10th. International Business Machines's dividend payout ratio (DPR) is 57.63%.

More International Business Machines News

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

• Positive Sentiment: Evercore’s sum-of-the-parts analysis values IBM at $290 a share, above its $275 price target, suggesting the firm sees potential value in IBM’s businesses, including quantum computing. IBM Stock Could Be More Than a ‘Safe Haven.' Quantum Computing Is a Big Reason
• Positive Sentiment: IBM’s Quantum System Two is now operational at the University of Chicago, expanding its quantum-computing presence and partnerships in Illinois. The installation strengthens IBM’s research and commercialization ecosystem, though financial returns are likely longer term. IBM Unveils Its Most Advanced Quantum Computer in Chicago
• Positive Sentiment: IBM, AMD and Oak Ridge National Laboratory launched a platform combining quantum and high-performance computing to advance quantum error correction, supporting IBM’s technology roadmap. The initiative targets progress toward a scientifically relevant quantum computer by 2028. Oak Ridge National Laboratory, IBM, and AMD Launch New Co-Design Platform for Quantum Error Correction
• Neutral Sentiment: A recent valuation commentary questions whether IBM’s cash-flow outlook supports the stock’s longer-term share-price gains. The excerpt does not provide a firm valuation conclusion, but it highlights investor scrutiny of the company’s price relative to future cash generation. IBM Stock Could Trade At A Discount After Quantum Computing News

International Business Machines Company Profile

International Business Machines Corporation (IBM) is a global technology company that provides software, consulting, infrastructure and related services to businesses and public-sector organizations. Its offerings include hybrid cloud and artificial intelligence solutions, enterprise software, IT consulting, and systems such as IBM Z mainframes and Power servers.

IBM also develops technologies in areas including data management, automation, cybersecurity and quantum computing. Its consulting teams help clients design, build and manage technology systems and business processes.

The company traces its roots to the Computing-Tabulating-Recording Company, formed in 1911, and adopted the name International Business Machines in 1924.

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