IFP Advisors Inc Increases Position in International Business Machines Corporation $IBM

IFP Advisors Inc increased its holdings in International Business Machines Corporation (NYSE:IBM) by 30.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 43,273 shares of the technology company’s stock after buying an additional 10,130 shares during the period. IFP Advisors Inc’s holdings in International Business Machines were worth $12,169,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of IBM. McGowan Group Asset Management Inc. grew its stake in International Business Machines by 1.2% in the 4th quarter. McGowan Group Asset Management Inc. now owns 2,693 shares of the technology company’s stock valued at $798,000 after purchasing an additional 33 shares during the period. Exencial Wealth Advisors LLC raised its stake in shares of International Business Machines by 0.4% during the 4th quarter. Exencial Wealth Advisors LLC now owns 7,874 shares of the technology company’s stock worth $2,332,000 after purchasing an additional 34 shares during the period. Orca Wealth Management LLC boosted its holdings in shares of International Business Machines by 3.7% in the 4th quarter. Orca Wealth Management LLC now owns 975 shares of the technology company’s stock worth $285,000 after buying an additional 35 shares during the last quarter. Friday Financial grew its position in International Business Machines by 1.9% during the second quarter. Friday Financial now owns 1,903 shares of the technology company’s stock valued at $583,000 after buying an additional 35 shares during the period. Finally, First Command Advisory Services Inc. increased its holdings in International Business Machines by 1.1% during the fourth quarter. First Command Advisory Services Inc. now owns 3,459 shares of the technology company’s stock worth $1,025,000 after buying an additional 36 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IBM. Stifel Nicolaus dropped their target price on shares of International Business Machines from $290.00 to $235.00 and set a “buy” rating on the stock in a research note on Monday, July 20th. DZ Bank upgraded 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. Royal Bank Of Canada reissued an “outperform” rating and set a $270.00 price objective on shares of International Business Machines in a report on Tuesday, July 21st. Sanford C. Bernstein reissued a “market perform” rating on shares of International Business Machines in a research report on Thursday, July 16th. Finally, Argus dropped their price target on International Business Machines from $360.00 to $280.00 and set a “buy” rating on the stock in a research report on Thursday, July 16th. Sixteen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, International Business Machines has a consensus rating of “Moderate Buy” and an average target price of $265.40.

International Business Machines Stock Up 2.0%

IBM opened at $237.31 on Thursday. International Business Machines Corporation has a 12 month low of $199.19 and a 12 month high of $332.46. The company has a market cap of $223.57 billion, a PE ratio of 21.06, a price-to-earnings-growth ratio of 2.28 and a beta of 0.70. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.63. The company has a 50 day moving average of $248.73 and a 200 day moving average of $251.49.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.93. International Business Machines had a return on equity of 35.65% and a net margin of 15.52%.The firm had revenue of $17.16 billion for the quarter, compared to the consensus estimate of $17.46 billion. During the same quarter in the prior year, the business posted $2.80 earnings per share. The business’s quarterly revenue was up 1.1% on a year-over-year basis. On average, sell-side analysts expect that International Business Machines Corporation will post 12.33 EPS for the current year.

International Business Machines Dividend Announcement

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

More International Business Machines News

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

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.