New Age Alpha Advisors LLC Boosts Holdings in International Business Machines Corporation $IBM

Key Points

• New Age Alpha Advisors boosted its IBM stake by 140.2% in the fourth quarter, ending with 18,919 shares valued at about $5.6 million.
• Institutional investors overall remain heavily involved in IBM, with hedge funds and other institutions owning 58.96% of the company’s shares. Several large firms, including Vanguard and Capital World Investors, also increased their positions.
• IBM is drawing attention for its quantum computing push, including a planned U.S. quantum foundry backed by proposed federal CHIPS funding, while analysts have largely kept a Moderate Buy view with an average price target of $294.41.

New Age Alpha Advisors LLC increased its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 140.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,919 shares of the technology company's stock after buying an additional 11,042 shares during the quarter. New Age Alpha Advisors LLC's holdings in International Business Machines were worth $5,604,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in IBM. Capital World Investors lifted its holdings in International Business Machines by 13.9% during the third quarter. Capital World Investors now owns 17,045,156 shares of the technology company's stock valued at $4,809,461,000 after purchasing an additional 2,077,506 shares in the last quarter. Vanguard Group Inc. lifted its holdings in International Business Machines by 1.5% during 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 in the last quarter. First Trust Advisors LP lifted its holdings in International Business Machines by 39.6% during the third quarter. First Trust Advisors LP now owns 3,052,880 shares of the technology company's stock valued at $861,401,000 after purchasing an additional 865,253 shares in the last quarter. Franklin Resources Inc. lifted its holdings in International Business Machines by 64.7% during the third quarter. Franklin Resources Inc. now owns 2,162,741 shares of the technology company's stock valued at $610,239,000 after purchasing an additional 849,500 shares in the last quarter. Finally, Amundi lifted its holdings in International Business Machines by 17.9% during the third quarter. Amundi now owns 4,777,516 shares of the technology company's stock valued at $1,382,695,000 after purchasing an additional 725,191 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

Trending Headlines about International Business Machines

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

• Positive Sentiment: IBM and the U.S. Commerce Department announced a plan to launch America’s first purpose-built quantum foundry, with IBM set to receive the largest share of federal support and contribute matching capital. IBM and U.S. Department of Commerce Announce America's First Purpose-Built Quantum Foundry, Supported by Proposed $1 Billion CHIPS Award
• Positive Sentiment: Analysts and media reports say the quantum funding package is a major new catalyst for IBM, helping drive strong share-price momentum and lifting sentiment around the stock’s long-term growth prospects. IBM shares extend rally as Wedbush calls US quantum investment a "new catalyst"
• Positive Sentiment: IBM’s push into quantum computing and related hot tech segments is being viewed as evidence the company is expanding beyond legacy businesses into higher-growth opportunities. Why IBM Stock Was Rocking it This Week
• Neutral Sentiment: Some coverage highlights that IBM’s valuation, debt load, and execution risk will matter as the company commits capital to the quantum foundry project. IBM’s US$1b Anderon Quantum Foundry Puts Valuation And Debt In Focus

Insider Activity at International Business Machines

In related news, Director Michael Miebach bought 434 shares of the stock in a transaction dated Wednesday, February 25th. The shares were purchased at an average price of $233.33 per share, with a total value of $101,265.22. Following the completion of the acquisition, the director owned 434 shares of the company's stock, valued at $101,265.22. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.27% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on IBM. UBS Group raised shares of International Business Machines from a "sell" rating to a "neutral" rating and set a $236.00 price target on the stock in a report on Wednesday, February 25th. 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 report on Monday, April 20th. Evercore lifted their price target on shares of International Business Machines from $330.00 to $345.00 and gave the company an "outperform" rating in a report on Thursday, January 29th. Citigroup began coverage on shares of International Business Machines in a report on Friday, April 10th. They set a "buy" rating and a $285.00 price target on the stock. Finally, Oppenheimer lowered their price target on shares of International Business Machines from $380.00 to $320.00 and set an "outperform" rating on the stock in a report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, International Business Machines currently has an average rating of "Moderate Buy" and an average price target of $294.41.

International Business Machines Price Performance

IBM stock opened at $253.88 on Monday. International Business Machines Corporation has a one year low of $212.34 and a one year high of $324.90. The company's fifty day moving average price is $238.70 and its 200-day moving average price is $272.21. 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 company has a market capitalization of $238.62 billion, a PE ratio of 22.45, a price-to-earnings-growth ratio of 2.63 and a beta of 0.58.

International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results on Wednesday, April 22nd. The technology company reported $1.91 EPS for the quarter, topping 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 the consensus estimate of $15.60 billion. During the same quarter in the previous year, the firm earned $1.60 earnings per share. The company's quarterly revenue was up 9.5% compared to the same quarter last year. On average, equities analysts anticipate that International Business Machines Corporation will post 12.4 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently announced 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. This represents a $6.76 annualized dividend and a dividend yield of 2.7%. This is a boost from International Business Machines's previous quarterly dividend of $1.68. The ex-dividend date of this dividend is Friday, May 8th. International Business Machines's payout ratio is presently 59.77%.

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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