Zurich Insurance Group Ltd FI Acquires 63,489 Shares of International Business Machines Corporation $IBM

Key Points

• Zurich Insurance Group Ltd FI increased its stake in International Business Machines Corporation by 21.8%, acquiring an additional 63,489 shares, bringing its total holdings to 354,295 shares worth approximately $88 million.
• Several institutional investors, including Vanguard Group Inc and Goldman Sachs Group Inc, also boosted their positions in IBM during the first quarter of the year, indicating strong interest in the stock.
• IBM reported earnings of $2.80 per share for the last quarter, exceeding analysts' expectations, and announced a quarterly dividend of $1.68, reflecting a 2.6% yield.

Zurich Insurance Group Ltd FI boosted its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 21.8% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 354,295 shares of the technology company's stock after acquiring an additional 63,489 shares during the quarter. Zurich Insurance Group Ltd FI's holdings in International Business Machines were worth $88,099,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of IBM. Vanguard Group Inc. increased its position in shares of International Business Machines by 1.4% in the first quarter. Vanguard Group Inc. now owns 93,137,767 shares of the technology company's stock worth $23,159,637,000 after purchasing an additional 1,298,515 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in International Business Machines by 9.8% during the fourth 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 valued at $1,783,281,000 after purchasing an additional 722,582 shares during the last quarter. Ameriprise Financial Inc. grew its stake in 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 buying an additional 52,317 shares in the last quarter. Goldman Sachs Group Inc. increased 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 buying an additional 889,008 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of International Business Machines by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,108,455 shares of the technology company's stock valued at $1,270,022,000 after buying an additional 24,790 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Royal Bank Of Canada upped their target price on shares of International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Melius Research upgraded International Business Machines to a "strong-buy" rating in a report on Monday, July 7th. Wall Street Zen upgraded International Business Machines from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. The Goldman Sachs Group boosted their target price on International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Finally, BMO Capital Markets increased their price target on shares of International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a research report on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $268.75.

International Business Machines Trading Up 3.1%

NYSE:IBM opened at $256.20 on Tuesday. The firm has a market capitalization of $238.11 billion, a P/E ratio of 41.59, a P/E/G ratio of 3.83 and a beta of 0.71. 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 company has a fifty day moving average of $260.31 and a 200 day moving average of $256.97. International Business Machines Corporation has a 52 week low of $201.43 and a 52 week high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.65 by $0.15. The firm had revenue of $16.98 billion for the quarter, compared to analysts' expectations of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The company's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.43 earnings per share. International Business Machines has set its FY 2025 guidance at EPS. On average, research analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th will be given a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Friday, August 8th. International Business Machines's dividend payout ratio (DPR) 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.

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