Karras Company Inc. Buys New Stake in International Business Machines Corporation $IBM

Karras Company Inc. bought a new stake in shares of International Business Machines Corporation (NYSE:IBM) in the fourth quarter, Holdings Channel reports. The fund bought 8,425 shares of the technology company’s stock, valued at approximately $2,496,000. International Business Machines accounts for 2.4% of Karras Company Inc.’s holdings, making the stock its 12th largest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Family CFO Inc acquired a new position in International Business Machines during the fourth quarter valued at $25,000. Joseph Group Capital Management acquired a new position in International Business Machines during the fourth quarter valued at $28,000. SWAN Capital LLC acquired a new position in International Business Machines during the third quarter valued at $28,000. LFA Lugano Financial Advisors SA acquired a new position in International Business Machines during the fourth quarter valued at $31,000. Finally, DecisionPoint Financial LLC lifted its position in International Business Machines by 1,666.7% during the fourth quarter. DecisionPoint Financial LLC now owns 106 shares of the technology company’s stock valued at $31,000 after purchasing an additional 100 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting International Business Machines

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

Insider Activity

In related news, Director Michael Miebach bought 434 shares of the company’s stock in a transaction dated Wednesday, February 25th. The shares were acquired at an average price of $233.33 per share, for a total transaction of $101,265.22. Following the completion of the transaction, the director directly owned 434 shares in the company, valued at $101,265.22. This trade 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 through this link. 0.27% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on IBM. Jefferies Financial Group decreased 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 report on Monday, April 20th. DZ Bank upgraded shares of International Business Machines from a “hold” rating to a “buy” rating and set a $295.00 price target on the stock in a research report on Friday, April 24th. Weiss Ratings lowered shares of International Business Machines from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. Argus set a $360.00 price target on shares of International Business Machines in a research report on Friday, January 30th. Finally, Morgan Stanley raised their price target on shares of International Business Machines from $215.00 to $225.00 and gave the company an “equal weight” rating in a research report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, International Business Machines has a consensus rating of “Moderate Buy” and a consensus price target of $294.41.

International Business Machines Stock Up 0.4%

IBM stock opened at $253.88 on Friday. The firm has a market cap of $238.62 billion, a PE ratio of 22.45, a P/E/G ratio of 2.62 and a beta of 0.58. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.80. The firm’s fifty day moving average is $238.70 and its 200 day moving average is $272.44. International Business Machines Corporation has a one year low of $212.34 and a one year high of $324.90.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, April 22nd. The technology company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.81 by $0.10. The company had revenue of $15.92 billion for 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 firm’s revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the business earned $1.60 earnings per share. On average, research analysts forecast that International Business Machines Corporation will post 12.4 EPS for the current year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th will be given a $1.69 dividend. This represents a $6.76 annualized dividend and a dividend yield of 2.7%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.68. The ex-dividend date is Friday, May 8th. International Business Machines’s dividend payout ratio (DPR) is 59.77%.

About International Business Machines

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.