Thomasville National Bank Makes New Investment in International Business Machines Corporation $IBM

Thomasville National Bank purchased a new position in International Business Machines Corporation (NYSE:IBM) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 2,915 shares of the technology company’s stock, valued at approximately $820,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Basepoint Wealth LLC bought a new stake in International Business Machines during the fourth quarter worth approximately $25,000. Joseph Group Capital Management bought a new position in International Business Machines during the 4th quarter valued at $28,000. Cornerstone Financial Management LLC acquired a new position in shares of International Business Machines during the 4th quarter valued at $28,000. SWAN Capital LLC bought a new stake in shares of International Business Machines in the 3rd quarter worth $28,000. Finally, LFA Lugano Financial Advisors SA bought a new stake in shares of International Business Machines in the 4th quarter worth $31,000. 58.96% of the stock is currently owned by institutional investors.

Key Stories Impacting International Business Machines

Here are the key news stories impacting International Business Machines this week:

• Positive Sentiment: IBM successfully connected and cooled two modular cryogenic systems to below 15 millikelvin, creating an architecture intended to link hundreds of quantum chips. The milestone supports IBM’s roadmap toward a 1,000-qubit system by 2027 and the planned fault-tolerant Quantum Starling system in 2029. IBM Connects Its First Modular Cryogenic Systems in Milestone Toward Fault-Tolerant Quantum Computing
• Positive Sentiment: The quantum advance is being viewed as a meaningful engineering step toward fault-tolerant computing, helping support IBM’s differentiated position in quantum technology and contributing to the upward movement in IBM shares. IBM Clears Major Hardware Hurdle on the Path to Its Quantum Supercomputer
• Positive Sentiment: IBM’s Maximo government software-as-a-service product received FedRAMP Moderate authorization, potentially expanding its addressable U.S. government market. Separate commissioned research also reported that Maximo users show higher maintenance maturity than industry peers, supporting the product’s enterprise value proposition. IBM Secures FedRAMP Moderate Authorization For Maximo Government SaaS
• Neutral Sentiment: Arrow Electronics expanded its IBM distribution coverage, which could improve channel reach and support sales growth, but the announcement provided no immediate financial targets. Arrow Electronics Expands IBM Distribution Coverage to Support Channel Growth
• Negative Sentiment: A law firm announced a securities-fraud investigation related to IBM’s prior stock decline. The notice is not an allegation finding or formal determination of wrongdoing, but it adds headline and potential litigation risk. IBM Investor Reminder Securities Fraud Investigation

Analysts Set New Price Targets

Several research analysts recently weighed in on IBM shares. Susquehanna decreased their target price on International Business Machines from $303.00 to $225.00 and set a “neutral” rating for the company in a research note on Friday, July 24th. Needham & Company LLC began coverage on shares of International Business Machines in a report on Wednesday, June 3rd. They issued a “buy” rating for the company. Sanford C. Bernstein restated a “market perform” rating on shares of International Business Machines in a research report on Thursday, July 16th. DZ Bank raised shares of International Business Machines from a “hold” rating to a “buy” rating and set a $295.00 price objective on the stock in a research note on Friday, April 24th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $270.00 price objective on shares of International Business Machines in a research note on Tuesday, July 21st. Sixteen research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $265.40.

International Business Machines Price Performance

IBM opened at $237.31 on Thursday. The firm has a market capitalization of $223.57 billion, a P/E ratio of 21.06, a PEG ratio of 2.28 and a beta of 0.70. The stock has a fifty day moving average of $248.73 and a 200-day moving average of $251.49. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.63. International Business Machines Corporation has a 12-month low of $199.19 and a 12-month high of $332.46.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.93. The business had revenue of $17.16 billion for the quarter, compared to the consensus estimate of $17.46 billion. International Business Machines had a return on equity of 35.65% and a net margin of 15.52%.International Business Machines’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.80 earnings per share. Equities analysts forecast that International Business Machines Corporation will post 12.33 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 10th will be issued a $1.69 dividend. The ex-dividend date is Monday, August 10th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 2.8%. International Business Machines’s dividend payout ratio is currently 59.98%.

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.