Thomasville National Bank Makes New $820,000 Investment in International Business Machines Corporation $IBM

Thomasville National Bank bought a new position in International Business Machines Corporation (NYSE:IBM) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,915 shares of the technology company’s stock, valued at approximately $820,000.

A number of other institutional investors have also made changes to their positions in IBM. Vanguard Group Inc. lifted its stake in International Business Machines by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 97,216,131 shares of the technology company’s stock worth $28,796,390,000 after purchasing an additional 1,439,824 shares during the last quarter. State Street Corp boosted its holdings in International Business Machines by 1.0% in the fourth quarter. State Street Corp now owns 54,996,293 shares of the technology company’s stock worth $16,290,452,000 after purchasing an additional 518,321 shares during the period. Geode Capital Management LLC increased its stake in International Business Machines by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 22,605,083 shares of the technology company’s stock valued at $6,679,105,000 after purchasing an additional 336,069 shares during the last quarter. Capital World Investors raised its holdings in shares of International Business Machines by 29.2% during the fourth quarter. Capital World Investors now owns 22,021,912 shares of the technology company’s stock worth $6,523,720,000 after purchasing an additional 4,976,756 shares during the period. Finally, Bank of America Corp DE raised its holdings in shares of International Business Machines by 7.0% during the first quarter. Bank of America Corp DE now owns 16,063,653 shares of the technology company’s stock worth $3,893,669,000 after purchasing an additional 1,049,602 shares during the period. 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

International Business Machines Stock Up 2.0%

IBM stock opened at $237.31 on Thursday. 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 fifty-two week low of $199.19 and a fifty-two week high of $332.46. The firm’s 50-day simple moving average is $248.73 and its 200 day simple moving average is $251.49. The stock 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.

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, meeting analysts’ consensus estimates of $2.93. The firm had revenue of $17.16 billion during the quarter, compared to analyst estimates of $17.46 billion. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. International Business Machines’s revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.80 EPS. As a group, sell-side analysts predict that International Business Machines Corporation will post 12.33 EPS for the current year.

International Business Machines Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Needham & Company LLC initiated coverage on shares of International Business Machines in a report on Wednesday, June 3rd. They issued a “buy” rating for the company. Weiss Ratings lowered shares of International Business Machines from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, June 24th. Citigroup cut their target price on shares of International Business Machines from $255.00 to $245.00 and set a “buy” rating on the stock in a report on Friday, July 24th. Robert W. Baird started coverage on International Business Machines in a research note on Tuesday, July 21st. They issued a “neutral” rating and a $230.00 target price for the company. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of International Business Machines in a report on Thursday, July 16th. Sixteen equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $265.40.

International Business Machines Company 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.