SCS Capital Management LLC Acquires New Stake in International Business Machines Corporation $IBM

Key Points

• SCS Capital Management LLC has taken a new position in International Business Machines Corporation (IBM), acquiring 10,715 shares valued at approximately $2.67 million.
• Several large investors, including Vanguard Group and Goldman Sachs Group, have also increased their stakes in IBM, indicating growing institutional confidence in the company.
• IBM reported a $2.80 EPS for the last quarter, surpassing analysts' expectations, and announced a quarterly dividend of $1.68 per share with a 2.6% yield.

SCS Capital Management LLC bought a new position in International Business Machines Corporation (NYSE:IBM - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 10,715 shares of the technology company's stock, valued at approximately $2,665,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in International Business Machines by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 93,137,767 shares of the technology company's stock valued at $23,159,637,000 after acquiring an additional 1,298,515 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of International Business Machines by 6.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,636,725 shares of the technology company's stock worth $2,147,608,000 after purchasing an additional 524,633 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of International Business Machines by 9.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,112,092 shares of the technology company's stock worth $1,783,281,000 after purchasing an additional 722,582 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of International Business Machines by 1.0% in the 1st quarter. Ameriprise Financial Inc. now owns 5,516,240 shares of the technology company's stock worth $1,371,812,000 after purchasing an additional 52,317 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of International Business Machines by 20.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,157,846 shares of the technology company's stock worth $1,282,550,000 after purchasing an additional 889,008 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on IBM shares. Bank of America cut their price objective on International Business Machines from $320.00 to $310.00 and set a "buy" rating for the company in a report on Thursday, July 24th. Wedbush lifted their price objective on International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. UBS Group lifted their price objective on International Business Machines from $195.00 to $200.00 and gave the stock a "sell" rating in a report on Thursday, July 24th. Melius Research upgraded International Business Machines to a "strong-buy" rating in a report on Monday, July 7th. Finally, Stifel Nicolaus boosted their price objective on shares of International Business Machines from $290.00 to $310.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $270.67.

International Business Machines Stock Down 1.4%

IBM traded down $3.55 on Friday, hitting $253.46. The company had a trading volume of 3,430,296 shares, compared to its average volume of 4,674,422. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87. International Business Machines Corporation has a 52-week low of $203.51 and a 52-week high of $296.16. The stock has a fifty day simple moving average of $258.35 and a 200-day simple moving average of $256.95. The firm has a market capitalization of $235.57 billion, a P/E ratio of 41.15, a P/E/G ratio of 3.96 and a beta of 0.71.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.65 by $0.15. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The business had revenue of $16.98 billion during the quarter, compared to analyst estimates of $16.58 billion. During the same period last year, the business posted $2.43 earnings per share. International Business Machines's quarterly revenue was up 7.7% compared to the same quarter last year. International Business Machines has set its FY 2025 guidance at EPS. As a group, equities analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were given a $1.68 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.7%. International Business Machines's dividend payout ratio is currently 109.09%.

International Business Machines Company Profile

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.