Wealthquest Corp Invests $731,000 in International Business Machines Corporation $IBM

Key Points

• Wealthquest Corp opened a new position in IBM during the fourth quarter, buying 2,468 shares valued at about $731,000.
• IBM is drawing attention for its quantum computing push, including a planned U.S. quantum foundry with Commerce Department support that could bring major federal funding and act as a growth catalyst.
• The company recently posted better-than-expected earnings and revenue, and it also raised its quarterly dividend to $1.69 per share, reinforcing investor interest despite some concerns about valuation and debt.

Wealthquest Corp purchased a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,468 shares of the technology company's stock, valued at approximately $731,000.

Other large investors have also recently bought and sold shares of the company. CVA Family Office LLC lifted its holdings in shares of International Business Machines by 1.4% during the fourth quarter. CVA Family Office LLC now owns 2,389 shares of the technology company's stock valued at $708,000 after acquiring an additional 33 shares during the period. Foster Group Inc. grew its holdings in shares of International Business Machines by 1.3% in the 4th quarter. Foster Group Inc. now owns 2,507 shares of the technology company's stock worth $742,000 after purchasing an additional 33 shares during the last quarter. New Covenant Trust Company N.A. grew its holdings in shares of International Business Machines by 3.8% in the 4th quarter. New Covenant Trust Company N.A. now owns 905 shares of the technology company's stock worth $264,000 after purchasing an additional 33 shares during the last quarter. McGowan Group Asset Management Inc. increased its position in shares of International Business Machines by 1.2% during the 4th quarter. McGowan Group Asset Management Inc. now owns 2,693 shares of the technology company's stock worth $798,000 after purchasing an additional 33 shares in the last quarter. Finally, CFS Investment Advisory Services LLC lifted its holdings in International Business Machines by 0.4% during the 3rd quarter. CFS Investment Advisory Services LLC now owns 9,359 shares of the technology company's stock valued at $2,878,000 after purchasing an additional 34 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

Key International Business Machines News

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

Insiders Place Their Bets

In related news, Director Michael Miebach bought 434 shares of International Business Machines stock in a transaction on Wednesday, February 25th. The shares were purchased at an average price of $233.33 per share, for a total transaction of $101,265.22. Following the completion of the acquisition, the director owned 434 shares in the company, valued at approximately $101,265.22. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. UBS Group upgraded 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 research report on Wednesday, February 25th. Jefferies Financial Group cut their target price on shares of International Business Machines from $370.00 to $320.00 and set a "buy" rating for the company in a research note on Monday, April 20th. DZ Bank raised International Business Machines from a "hold" rating to a "buy" rating and set a $295.00 price target for the company in a report on Friday, April 24th. Stifel Nicolaus set a $290.00 price objective on International Business Machines in a research report on Friday. Finally, Wedbush reissued an "outperform" rating on shares of International Business Machines in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $294.41.

International Business Machines Trading Up 0.0%

Shares of NYSE IBM opened at $253.88 on Monday. International Business Machines Corporation has a fifty-two week low of $212.34 and a fifty-two week high of $324.90. The firm has a market capitalization of $238.62 billion, a P/E ratio of 22.45, a P/E/G ratio of 2.63 and a beta of 0.58. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.80 and a quick ratio of 0.76. The company's 50 day simple moving average is $238.70 and its 200 day simple moving average is $272.21.

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 analysts' consensus estimates of $1.81 by $0.10. The firm had revenue of $15.92 billion during the quarter, compared to analyst estimates of $15.60 billion. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The business's quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.60 EPS. On average, analysts predict that International Business Machines Corporation will post 12.4 EPS for the current year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 8th will be issued a $1.69 dividend. This is a boost from International Business Machines's previous quarterly dividend of $1.68. This represents a $6.76 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Friday, May 8th. International Business Machines's dividend payout ratio is currently 59.77%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.