12,308 Shares of International Business Machines Corporation $IBM Bought by Sanders Morris Harris LLC

Sanders Morris Harris LLC bought a new stake in shares of International Business Machines Corporation (NYSE:IBM) in the 3rd quarter, Holdings Channel.com reports. The firm bought 12,308 shares of the technology company’s stock, valued at approximately $2,776,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new stake in International Business Machines in the second quarter valued at approximately $21,586,659,000. Bank of America Corp DE purchased a new stake in shares of International Business Machines during the second quarter valued at approximately $4,214,868,000. Bank of New York Mellon Corp purchased a new stake in shares of International Business Machines during the second quarter valued at approximately $2,606,782,000. Legal & General Group Plc bought a new position in shares of International Business Machines in the second quarter worth approximately $1,874,733,000. Finally, Wellington Management Group LLP grew its holdings in shares of International Business Machines by 2,362.2% in the second quarter. Wellington Management Group LLP now owns 6,549,393 shares of the technology company’s stock worth $1,841,755,000 after purchasing an additional 6,283,395 shares during the last quarter. 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 and Siemens announced a research collaboration to advance IBM’s nanostack transistor architecture. Siemens will contribute expertise in electronic design automation, process simulation, lithography optimization and manufacturing software, potentially strengthening IBM’s long-term semiconductor and computing technology pipeline. IBM and Siemens Collaborate on Research to Advance Nanostack Architecture
• Positive Sentiment: IBM and IonQ reportedly advanced to Stage C of DARPA’s Quantum Benchmarking Initiative, providing validation for IBM’s quantum-computing efforts and a potential long-term growth opportunity, although near-term revenue remains uncertain. DARPA Just Revealed the 2 Best Quantum Computing Stocks to Buy Now
• Positive Sentiment: RBC reaffirmed an “outperform” rating and set a $270 price target, implying meaningful upside from the referenced market price. The endorsement may offer support after IBM’s recent weakness.
• Neutral Sentiment: IBM’s first-half operating cash flow increased to $7.77 billion from $6.07 billion, but nearly all of the improvement came from changes in financing receivables. That boosts liquidity, while raising questions about how sustainable the cash-flow growth is without stronger software and consulting performance. IBM: Is Customer Financing Flattering Its Cash Recovery?
• Negative Sentiment: Investors are focused on the Q3 earnings test, with AI and hybrid-cloud opportunities competing against intensifying competition, margin pressure and IBM’s still-premium valuation. Analysts expect earnings growth but question whether the company has the ingredients for a meaningful earnings beat. IBM Stock Before Q3 Earnings Release

Analysts Set New Price Targets

Several brokerages recently commented on IBM. Morgan Stanley decreased their target price on shares of International Business Machines from $293.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 23rd. Truist Financial started coverage on shares of International Business Machines in a report on Friday, October 9th. They issued a “hold” rating and a $240.00 price objective for the company. Robert W. Baird initiated coverage on shares of International Business Machines in a research report on Tuesday, July 21st. They issued a “neutral” rating and a $230.00 target price for the company. Citic Securities lifted their target price on shares of International Business Machines from $294.00 to $297.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Finally, BMO Capital Markets reduced their price target on shares of International Business Machines from $270.00 to $230.00 and set a “market perform” rating on the stock in a research report on Thursday, July 23rd. Eighteen research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and an average target price of $252.96.

International Business Machines Stock Down 1.0%

Shares of NYSE:IBM traded down $2.38 during trading on Wednesday, hitting $228.40. The stock had a trading volume of 4,037,782 shares, compared to its average volume of 7,484,449. 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 capitalization of $215.18 billion, a PE ratio of 20.27, a PEG ratio of 2.16 and a beta of 0.73. The firm’s fifty day moving average is $232.22 and its 200 day moving average is $243.77. 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 (NYSE:IBM) last released its earnings results on Wednesday, July 22nd. The technology company reported $2.93 EPS for the quarter, meeting analysts’ consensus estimates of $2.93. International Business Machines had a return on equity of 35.65% and a net margin of 15.52%. The company had revenue of $17.16 billion during the quarter, compared to analysts’ expectations of $17.46 billion. During the same quarter last year, the business posted $2.80 EPS. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. Analysts anticipate that International Business Machines Corporation will post 12.33 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Monday, August 10th were issued a $1.69 dividend. The ex-dividend date was Monday, August 10th. This represents a $6.76 dividend on an annualized basis and a yield of 3.0%. International Business Machines’s dividend payout ratio is 59.98%.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Robert Thomas sold 25,000 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $230.32, for a total transaction of $5,758,000.00. Following the completion of the transaction, the senior vice president owned 47,800 shares of the company’s stock, valued at approximately $11,009,296. This trade represents a 34.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.27% of the company’s stock.

About International Business Machines

International Business Machines Corporation (NYSE:IBM), commonly known as IBM, is a global technology company that provides hybrid cloud, artificial intelligence, software, consulting and infrastructure solutions. Its offerings help businesses and government organizations manage data, modernize applications, automate processes and improve cybersecurity.

IBM’s portfolio includes the Red Hat hybrid cloud platform, the watsonx suite of artificial intelligence and data tools, consulting services, and enterprise software for areas such as automation, application management, security and asset management.