International Business Machines Corporation $IBM Stock Holdings Increased by Triumph Capital Management

Key Points

• Triumph Capital Management increased its IBM stake by 245.2% in the second quarter, owning 5,444 shares valued at approximately $1.53 million. Institutional investors collectively hold 58.96% of IBM’s outstanding stock.
• IBM reported quarterly earnings of $2.93 per share, in line with analyst estimates, while revenue rose 1.1% year over year to $17.16 billion but fell short of expectations.
• IBM declared a quarterly dividend of $1.69 per share, equivalent to an annualized $6.76 dividend and a 2.8% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $265.40.

Triumph Capital Management boosted its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 245.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,444 shares of the technology company's stock after purchasing an additional 3,867 shares during the period. Triumph Capital Management's holdings in International Business Machines were worth $1,531,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Basepoint Wealth LLC purchased a new position in shares of International Business Machines during the 4th quarter valued at $25,000. Portus Wealth Advisors LLC purchased a new position in International Business Machines in the first quarter valued at about $26,000. Joseph Group Capital Management acquired a new position in International Business Machines in the 4th quarter worth about $28,000. Cornerstone Financial Management LLC acquired a new stake in shares of International Business Machines during the 4th quarter valued at about $28,000. Finally, SWAN Capital LLC bought a new stake in shares of International Business Machines in the 3rd quarter valued at approximately $28,000. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $237.31 on Thursday. The company has a market cap of $223.57 billion, a price-to-earnings ratio of 21.06, a PEG ratio of 2.28 and a beta of 0.70. The business has a 50 day moving average price of $248.73 and a 200 day moving average price of $251.49. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.63. International Business Machines Corporation has a twelve month low of $199.19 and a twelve month high of $332.46.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The technology company reported $2.93 EPS for the quarter, hitting analysts' consensus estimates of $2.93. International Business Machines had a return on equity of 35.65% and a net margin of 15.52%.The company had revenue of $17.16 billion during the quarter, compared to analyst estimates of $17.46 billion. During the same period in the previous year, the company earned $2.80 earnings per share. The company's quarterly revenue was up 1.1% compared to the same quarter last year. Research analysts predict that International Business Machines Corporation will post 12.33 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 10th will be given a dividend of $1.69 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $6.76 dividend on an annualized basis and a yield of 2.8%. International Business Machines's payout ratio is 59.98%.

Analysts Set New Price Targets

IBM has been the topic of a number of research reports. KeyCorp downgraded International Business Machines to a "sector weight" rating in a report on Tuesday, June 23rd. HSBC set a $175.00 target price on shares of International Business Machines and gave the stock a "reduce" rating in a research report on Thursday, July 16th. Barclays cut their price target on shares of International Business Machines from $288.00 to $262.00 and set an "overweight" rating on the stock in a report on Thursday, July 23rd. JPMorgan Chase & Co. reduced their price objective on shares of International Business Machines from $291.00 to $250.00 and set an "overweight" rating for the company in a research note on Friday, July 17th. Finally, Citigroup lowered their target price on shares of International Business Machines from $255.00 to $245.00 and set a "buy" rating on the stock in a research report on Friday, July 24th. Sixteen analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $265.40.

International Business Machines News Summary

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

• Positive Sentiment: IBM successfully connected and cooled two modular cryogenic systems to below 15 millikelvin, creating an architecture intended to link hundreds of quantum chips. The milestone supports IBM’s roadmap toward a 1,000-qubit system by 2027 and the planned fault-tolerant Quantum Starling system in 2029. IBM Connects Its First Modular Cryogenic Systems in Milestone Toward Fault-Tolerant Quantum Computing
• Positive Sentiment: The quantum advance is being viewed as a meaningful engineering step toward fault-tolerant computing, helping support IBM’s differentiated position in quantum technology and contributing to the upward movement in IBM shares. IBM Clears Major Hardware Hurdle on the Path to Its Quantum Supercomputer
• Positive Sentiment: IBM’s Maximo government software-as-a-service product received FedRAMP Moderate authorization, potentially expanding its addressable U.S. government market. Separate commissioned research also reported that Maximo users show higher maintenance maturity than industry peers, supporting the product’s enterprise value proposition. IBM Secures FedRAMP Moderate Authorization For Maximo Government SaaS
• Neutral Sentiment: Arrow Electronics expanded its IBM distribution coverage, which could improve channel reach and support sales growth, but the announcement provided no immediate financial targets. Arrow Electronics Expands IBM Distribution Coverage to Support Channel Growth
• Negative Sentiment: A law firm announced a securities-fraud investigation related to IBM’s prior stock decline. The notice is not an allegation finding or formal determination of wrongdoing, but it adds headline and potential litigation risk. IBM Investor Reminder Securities Fraud Investigation

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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