Core Wealth Advisors LLC Buys New Stake in International Business Machines Corporation $IBM

Core Wealth Advisors LLC bought a new stake in International Business Machines Corporation (NYSE:IBM) during the fourth quarter, Holdings Channel reports. The firm bought 4,576 shares of the technology company’s stock, valued at approximately $1,355,000. International Business Machines makes up about 0.8% of Core Wealth Advisors LLC’s portfolio, making the stock its 15th biggest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of IBM. MUFG Securities EMEA plc grew its position in International Business Machines by 114.9% in the 4th quarter. MUFG Securities EMEA plc now owns 38,320 shares of the technology company’s stock worth $11,351,000 after purchasing an additional 20,490 shares during the last quarter. Texas Yale Capital Corp. grew its position in International Business Machines by 4.6% in the 4th quarter. Texas Yale Capital Corp. now owns 7,991 shares of the technology company’s stock worth $2,367,000 after purchasing an additional 350 shares during the last quarter. WASHINGTON TRUST Co grew its position in International Business Machines by 12.4% in the 4th quarter. WASHINGTON TRUST Co now owns 16,338 shares of the technology company’s stock worth $4,839,000 after purchasing an additional 1,800 shares during the last quarter. Catalyst Capital Advisors LLC grew its position in International Business Machines by 16.4% in the 4th quarter. Catalyst Capital Advisors LLC now owns 505 shares of the technology company’s stock worth $150,000 after purchasing an additional 71 shares during the last quarter. Finally, Norges Bank acquired a new stake in International Business Machines in the 4th quarter worth $2,446,429,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on IBM. Weiss Ratings downgraded shares of International Business Machines from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Morgan Stanley lifted 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 report on Thursday, April 23rd. BMO Capital Markets cut their price target on shares of International Business Machines from $290.00 to $270.00 and set a “market perform” rating for the company in a report on Thursday, April 23rd. Wedbush reissued an “outperform” rating and set a $320.00 price target on shares of International Business Machines in a report on Friday. Finally, Citigroup assumed coverage on shares of International Business Machines in a report on Friday, April 10th. They set a “buy” rating and a $285.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, International Business Machines presently has a consensus rating of “Moderate Buy” and an average target price of $294.41.

Key International Business Machines News

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

• Positive Sentiment: IBM unveiled a more than $10 billion quantum computing investment plan, reinforcing its leadership in an emerging high-growth market. IBM to invest $10 billion for large-scale quantum computer by 2029
• Positive Sentiment: IBM and Red Hat launched Project Lightwell, a $5 billion push to secure open-source software with AI tools and 20,000 engineers, which could strengthen its enterprise security franchise. IBM and Red Hat Commit $5 Billion to Redefine the Future of Open Source in the AI Era
• Positive Sentiment: Wedbush reiterated an Outperform rating and raised its target to $320, signaling continued analyst confidence in IBM’s upside. IBM Is Chasing A ‘$1 Trillion Value Creation Engine’ — And It’s Spending $15 Billion To Get There

International Business Machines Stock Up 12.9%

Shares of NYSE IBM opened at $298.26 on Friday. The stock has a market cap of $280.33 billion, a P/E ratio of 26.37, a P/E/G ratio of 3.08 and a beta of 0.58. The firm has a 50 day moving average price of $240.16 and a 200 day moving average price of $270.98. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.80. International Business Machines Corporation has a 52-week low of $212.34 and a 52-week high of $324.90.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.10. The firm 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 business’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.60 earnings per share. Analysts expect that International Business Machines Corporation will post 12.4 EPS for the current year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 8th will be issued a dividend of $1.69 per share. The ex-dividend date is Friday, May 8th. This is a positive change from International Business Machines’s previous quarterly dividend of $1.68. This represents a $6.76 dividend on an annualized basis and a yield of 2.3%. International Business Machines’s dividend payout ratio is presently 59.77%.

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.