Sumitomo Mitsui Trust Group Inc. Acquires 24,734 Shares of International Business Machines Corporation $IBM

Key Points

• Sumitomo Mitsui Trust Group Inc. has increased its stake in International Business Machines Corporation (IBM) by purchasing an additional 24,734 shares, raising its total ownership to approximately 2.5 million shares valued at $738.5 million.
• IBM reported earnings of $2.65 per share for the last quarter, surpassing analysts' expectations of $2.45 per share, with a year-over-year revenue increase of 9.1% to $16.33 billion.
• The company announced a quarterly dividend of $1.68 per share, scheduled for payment on December 10th, which reflects a 2.3% dividend yield.

Sumitomo Mitsui Trust Group Inc. increased its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 1.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,505,254 shares of the technology company's stock after purchasing an additional 24,734 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.27% of International Business Machines worth $738,499,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Family CFO Inc bought a new position in shares of International Business Machines in the second quarter valued at about $25,000. Christopher J. Hasenberg Inc acquired a new position in shares of International Business Machines during the 1st quarter worth about $27,000. SSA Swiss Advisors AG acquired a new position in shares of International Business Machines during the 1st quarter worth about $28,000. Dagco Inc. acquired a new position in shares of International Business Machines in the 1st quarter valued at approximately $31,000. Finally, Silicon Valley Capital Partners grew its position in shares of International Business Machines by 322.6% in the 1st quarter. Silicon Valley Capital Partners now owns 131 shares of the technology company's stock valued at $32,000 after purchasing an additional 100 shares during the period. 58.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IBM. Stifel Nicolaus reduced their price target on International Business Machines from $310.00 to $295.00 and set a "buy" rating for the company in a research report on Thursday. Bank of America increased their price objective on International Business Machines from $310.00 to $315.00 and gave the stock a "buy" rating in a research report on Thursday. UBS Group raised their price target on International Business Machines from $200.00 to $210.00 and gave the stock a "sell" rating in a research report on Thursday. BMO Capital Markets raised their price objective on International Business Machines from $300.00 to $305.00 and gave the company a "market perform" rating in a research note on Thursday. Finally, Royal Bank Of Canada cut their price target on International Business Machines from $315.00 to $300.00 and set an "outperform" rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $288.00.

International Business Machines Price Performance

Shares of NYSE IBM opened at $292.05 on Friday. The firm has a market capitalization of $271.43 billion, a P/E ratio of 34.93, a P/E/G ratio of 4.42 and a beta of 0.73. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. The stock's 50-day simple moving average is $264.85 and its two-hundred day simple moving average is $262.96. International Business Machines Corporation has a twelve month low of $203.51 and a twelve month high of $301.04.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, October 22nd. The technology company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.45 by $0.20. International Business Machines had a return on equity of 37.99% and a net margin of 12.09%.The firm had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.10 billion. During the same period in the prior year, the company earned $2.30 EPS. The company's revenue was up 9.1% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Monday, November 10th will be issued a $1.68 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $6.72 annualized dividend and a dividend yield of 2.3%. International Business Machines's payout ratio is presently 109.09%.

About International Business Machines

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.

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