Mitchell Mcleod Pugh & Williams Inc. Has $3.75 Million Stock Holdings in International Business Machines Corporation $IBM

Key Points

• Mitchell Mcleod Pugh & Williams Inc. increased its IBM stake by 41.9% in the fourth quarter, ending with 12,535 shares valued at about $3.75 million.
• Wall Street sentiment on IBM remains largely positive, with several firms raising price targets and the stock carrying a Moderate Buy consensus rating and average target of $304.17.
• IBM recently beat quarterly earnings and revenue estimates, and it also raised its quarterly dividend to $1.69 per share, signaling continued financial strength and shareholder returns.

Mitchell Mcleod Pugh & Williams Inc. boosted its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 41.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,535 shares of the technology company's stock after acquiring an additional 3,703 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.'s holdings in International Business Machines were worth $3,747,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Family CFO Inc acquired a new position in International Business Machines during the fourth quarter valued at approximately $25,000. Basepoint Wealth LLC acquired a new position in shares of International Business Machines during the 4th quarter worth $25,000. Joseph Group Capital Management acquired a new position in shares of International Business Machines during the 4th quarter worth $28,000. SWAN Capital LLC acquired a new position in shares of International Business Machines during the 3rd quarter worth $28,000. Finally, DecisionPoint Financial LLC raised its holdings in shares of International Business Machines by 1,666.7% during the 4th quarter. DecisionPoint Financial LLC now owns 106 shares of the technology company's stock worth $31,000 after buying an additional 100 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IBM has been the subject of a number of research analyst reports. Stifel Nicolaus set a $290.00 price target on International Business Machines in a report on Friday, May 22nd. Citigroup upped their price objective 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. Weiss Ratings upgraded shares of International Business Machines from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday. Morgan Stanley upped their price objective on shares of International Business Machines from $215.00 to $225.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 23rd. Finally, Needham & Company LLC initiated coverage on International Business Machines in a report on Wednesday, June 3rd. They issued a "buy" rating for the company. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $304.17.

Trending Headlines about International Business Machines

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

• Positive Sentiment: Jim Cramer publicly favored IBM over Xanadu Quantum, saying investors should “buy IBM” if they want exposure to the quantum theme, which can reinforce confidence in IBM as a more credible and profitable long-term AI/quantum name. Jim Cramer Recommends IBM Over Xanadu Quantum
• Positive Sentiment: IBM announced an expanded global collaboration with JA Worldwide to deliver AI and digital-skills education to up to one million high-school students, highlighting IBM’s efforts to build ecosystem adoption and strengthen its brand in AI. JA Worldwide and IBM Expand Global Collaboration with Goal of Delivering AI and Digital Skills to Up to One Million High-School Students
• Positive Sentiment: Several articles framed IBM as a strong long-term beneficiary of the quantum-computing boom, including coverage that described IBM as a “safer play” alongside Alphabet in the sector and another piece calling IBM a long-term buy tied to its recurring-revenue software and infrastructure engine. Quantum Computing Looks Like Nvidia in 2019. This Could Be the Generational Buy of the Decade.
• Neutral Sentiment: IBM CEO Arvind Krishna’s recent comments on quantum advantage, AI usage, and the company’s profit strategy keep IBM in the AI/quantum conversation, but the remarks were more strategic than immediately financial. IBM CEO Krishna on Quantum Advantage, Profit Strategy
• Neutral Sentiment: One analyst-style article argued that Celestica may be a better AI infrastructure buy than IBM due to faster growth and a cheaper valuation, which is a reminder that IBM still faces competition for investor capital in AI hardware/infrastructure. Celestica vs. IBM: Which AI Infrastructure Stock is the Better Buy?
• Negative Sentiment: Recent 247WallSt commentary said IBM has already rallied enough that some investors may prefer to wait for a pullback, and it also noted the stock is not cheap after IBM’s large quantum investment announcement. IBM Just Placed a $10 Billion Bet to Become the Nvidia of Quantum Computing

International Business Machines Trading Down 1.7%

Shares of NYSE IBM opened at $272.78 on Thursday. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.80. International Business Machines Corporation has a 52-week low of $212.34 and a 52-week high of $332.46. The firm has a 50 day moving average price of $248.79 and a two-hundred day moving average price of $270.49. The stock has a market cap of $256.38 billion, a P/E ratio of 24.12, a price-to-earnings-growth ratio of 2.87 and a beta of 0.67.

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 (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 during the quarter, compared to analysts' expectations of $15.60 billion. During the same period in the prior year, the company posted $1.60 EPS. The company's revenue was up 9.5% on a year-over-year basis. As a group, equities analysts forecast that International Business Machines Corporation will post 12.4 EPS for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th were paid a $1.69 dividend. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from International Business Machines's previous quarterly dividend of $1.68. This represents a $6.76 annualized dividend and a dividend yield of 2.5%. International Business Machines's payout ratio is currently 59.77%.

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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