Sumitomo Mitsui DS Asset Management Company Ltd Buys 20,863 Shares of International Business Machines Corporation $IBM

Key Points

• Sumitomo Mitsui DS Asset Management increased its stake in IBM by 6.0%, now holding 366,309 shares valued at approximately $107.98 million, making IBM its 18th largest investment.
• IBM reported a quarterly EPS of $2.80, surpassing consensus estimates of $2.65, with revenue reaching $16.98 billion, up 7.7% from the previous year.
• The company recently announced a quarterly dividend of $1.68 per share, with an annualized yield of 2.6% despite a payout ratio of 109.09%.

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 6.0% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 366,309 shares of the technology company's stock after buying an additional 20,863 shares during the quarter. International Business Machines makes up 1.0% of Sumitomo Mitsui DS Asset Management Company Ltd's holdings, making the stock its 18th largest holding. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in International Business Machines were worth $107,981,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in IBM. KMG Fiduciary Partners LLC grew its stake in International Business Machines by 1.5% in the 2nd quarter. KMG Fiduciary Partners LLC now owns 30,633 shares of the technology company's stock worth $9,030,000 after acquiring an additional 460 shares in the last quarter. Signal Advisors Wealth LLC increased its stake in shares of International Business Machines by 38.8% in the second quarter. Signal Advisors Wealth LLC now owns 2,964 shares of the technology company's stock worth $874,000 after acquiring an additional 828 shares during the period. Focus Financial Network Inc. grew its position in International Business Machines by 8.2% during the second quarter. Focus Financial Network Inc. now owns 7,427 shares of the technology company's stock valued at $2,189,000 after buying an additional 564 shares during the period. Arbor Wealth Advisors LLC acquired a new stake in shares of International Business Machines in the second quarter valued at about $204,000. Finally, Financial Management Network Inc. lifted its stake in shares of International Business Machines by 11.5% in the second quarter. Financial Management Network Inc. now owns 2,502 shares of the technology company's stock worth $730,000 after buying an additional 259 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Trading Up 0.8%

NYSE:IBM traded up $2.19 on Friday, reaching $267.19. The stock had a trading volume of 9,852,135 shares, compared to its average volume of 3,792,223. The company has a market cap of $248.33 billion, a price-to-earnings ratio of 43.38, a P/E/G ratio of 4.10 and a beta of 0.71. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87. The firm's fifty day moving average is $254.82 and its two-hundred day moving average is $257.25. International Business Machines Corporation has a 12-month low of $203.51 and a 12-month high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (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 for the quarter, compared to analysts' expectations of $16.58 billion. During the same period last year, the company earned $2.43 earnings per share. The company's quarterly revenue was up 7.7% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. Equities analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were paid a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Friday, August 8th. International Business Machines's dividend payout ratio is presently 109.09%.

Wall Street Analyst Weigh In

A number of brokerages have commented on IBM. Wedbush lifted their price target on shares of International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a research report on Friday, June 20th. Stifel Nicolaus lifted their price target 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. UBS Group lifted their price target on shares of International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a research report on Thursday, July 24th. Sanford C. Bernstein started coverage on shares of International Business Machines in a research report on Monday, September 15th. They set a "market perform" rating and a $280.00 price target for the company. Finally, The Goldman Sachs Group lifted their price objective on shares of International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $275.00.

International Business Machines 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.