Palmer Knight Co Buys Shares of 17,605 International Business Machines Corporation $IBM

Key Points

• Palmer Knight Co. bought 17,605 IBM shares worth approximately $4.95 million, making IBM 1.9% of its portfolio. Institutional investors and hedge funds collectively own 58.96% of IBM.
• IBM reported quarterly EPS of $2.93, in line with analyst expectations, while revenue rose 1.1% year over year to $17.16 billion but fell short of estimates.
• IBM declared a quarterly dividend of $1.69 per share, equivalent to a $6.76 annualized payout and a 2.9% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $265.90, although an IBM senior vice president recently sold 25,000 shares.

Palmer Knight Co purchased a new position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,605 shares of the technology company's stock, valued at approximately $4,951,000. International Business Machines comprises 1.9% of Palmer Knight Co's investment portfolio, making the stock its 26th biggest holding.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC raised its position in International Business Machines by 12.4% during the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock worth $4,619,000 after buying an additional 2,323 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of International Business Machines by 10.6% in the second quarter. Sivia Capital Partners LLC now owns 1,938 shares of the technology company's stock valued at $571,000 after acquiring an additional 186 shares in the last quarter. Jump Financial LLC acquired a new position in shares of International Business Machines during the second quarter worth about $211,000. Ieq Capital LLC increased its stake in shares of International Business Machines by 2.2% during the second quarter. Ieq Capital LLC now owns 38,617 shares of the technology company's stock worth $11,383,000 after acquiring an additional 843 shares during the period. Finally, Vivaldi Capital Management LP raised its holdings in International Business Machines by 11.6% during the second quarter. Vivaldi Capital Management LP now owns 1,017 shares of the technology company's stock worth $300,000 after purchasing an additional 106 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Trading Up 1.0%

Shares of IBM stock opened at $234.00 on Friday. The stock has a market cap of $220.46 billion, a P/E ratio of 20.76, a P/E/G ratio of 2.21 and a beta of 0.71. 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 fifty-two week low of $199.19 and a fifty-two week high of $332.46. The business has a fifty day simple moving average of $242.40 and a 200-day simple moving average of $247.21.

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

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 10th will be given a $1.69 dividend. The ex-dividend date is Monday, August 10th. This represents a $6.76 annualized dividend and a dividend yield of 2.9%. International Business Machines's dividend payout ratio is currently 59.98%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on IBM shares. Needham & Company LLC started coverage on International Business Machines in a report on Wednesday, June 3rd. They issued a "buy" rating on the stock. Wall Street Zen raised International Business Machines from a "sell" rating to a "hold" rating in a report on Saturday, August 29th. Stifel Nicolaus decreased their target price on shares of International Business Machines from $290.00 to $235.00 and set a "buy" rating on the stock in a research report on Monday, July 20th. Wedbush set a $350.00 target price on shares of International Business Machines in a research report on Tuesday, June 2nd. Finally, Wolfe Research cut shares of International Business Machines to a "peer perform" rating in a report on Tuesday, June 23rd. Sixteen investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $265.90.

Insider Buying and Selling at International Business Machines

In related news, SVP Robert Thomas sold 25,000 shares of International Business Machines stock in a transaction that occurred on 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 transaction, the senior vice president directly owned 47,800 shares in the company, valued at $11,009,296. The trade was a 34.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.27% of the stock is currently owned by company insiders.

Trending Headlines about International Business Machines

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

• Positive Sentiment: Quantum-computing advances support IBM’s growth narrative. IBM reportedly achieved a 25-fold throughput improvement, reinforcing its position in quantum hardware and software and adding to investor enthusiasm around emerging technology opportunities. Quantum Computing News: IBM Hits 25x Throughput Gain, RGTI Shows Up to 100x Speedup
• Positive Sentiment: Valuation and shareholder returns are attracting buyers. One analysis says IBM may trade below estimates of intrinsic value based on discounted cash flow, earnings and cash-flow multiples. Its long-term return, sizable dividend and reported $1.69-per-share distribution strengthen the income and value case. IBM Stock Could Be Below Fair Value Despite Cautious Broader Checks
• Positive Sentiment: AI and strategic investments broaden IBM’s growth prospects. IBM remains a favored long-term AI stock among retail investors, while IBM Ventures’ investment in physics-acceleration company BQP provides additional exposure to advanced computing. IBM Ventures Backs Physics Acceleration Firm BQP
• Neutral Sentiment: IBM’s latest trading-session advance reflected broader market strength, but the company’s shares remain below both their 50-day and 200-day moving averages, indicating that technical momentum is still mixed. IBM Beats Stock Market Upswing
• Negative Sentiment: A law-firm investigation adds headline and litigation risk. Bleichmar Fonti & Auld announced an investigation into potential misrepresentations concerning IBM’s business deal pace. The inquiry does not establish wrongdoing, but it could pressure the stock if additional claims or weak bookings emerge. IBM Under Investigation for Securities Fraud

International Business Machines 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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