Mitchell Mcleod Pugh & Williams Inc. Has $3.75 Million Stock Holdings in International Business Machines Corporation $IBM

Mitchell Mcleod Pugh & Williams Inc. lifted its position in shares of International Business Machines Corporation (NYSE:IBM) by 41.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 12,535 shares of the technology company’s stock after purchasing an additional 3,703 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in International Business Machines were worth $3,747,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in shares of International Business Machines by 424.6% during the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 260,740 shares of the technology company’s stock valued at $77,234,000 after buying an additional 211,040 shares during the last quarter. GLOBALT Investments LLC GA boosted its holdings in International Business Machines by 19.1% during the fourth quarter. GLOBALT Investments LLC GA now owns 18,288 shares of the technology company’s stock worth $5,417,000 after purchasing an additional 2,930 shares during the last quarter. Waverton Investment Management Ltd boosted its holdings in International Business Machines by 3.3% during the third quarter. Waverton Investment Management Ltd now owns 993,743 shares of the technology company’s stock worth $280,439,000 after purchasing an additional 32,072 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in International Business Machines by 30.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 13,122 shares of the technology company’s stock worth $3,887,000 after purchasing an additional 3,029 shares during the last quarter. Finally, NEOS Investment Management LLC boosted its holdings in International Business Machines by 51.7% during the third quarter. NEOS Investment Management LLC now owns 114,395 shares of the technology company’s stock worth $32,278,000 after purchasing an additional 38,973 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on IBM. Erste Group Bank cut International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, February 18th. BMO Capital Markets cut their price objective on International Business Machines from $290.00 to $270.00 and set a “market perform” rating on the stock in a research report on Thursday, April 23rd. Citigroup boosted their price objective on International Business Machines from $285.00 to $375.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. UBS Group raised International Business Machines from a “sell” rating to a “neutral” rating and set a $236.00 price objective on the stock in a research report on Wednesday, February 25th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of International Business Machines in a research report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $304.17.

International Business Machines Stock Down 1.7%

Shares of NYSE IBM opened at $272.78 on Thursday. International Business Machines Corporation has a one year low of $212.34 and a one year high of $332.46. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.80 and a quick ratio of 0.76. The business’s fifty day moving average price is $248.79 and its 200-day moving average price is $270.49. The stock has a market capitalization of $256.38 billion, a PE ratio of 24.12, a P/E/G ratio of 2.87 and a beta of 0.67.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, April 22nd. The technology company reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.10. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The firm had revenue of $15.92 billion for the quarter, compared to analysts’ expectations of $15.60 billion. During the same quarter in the prior year, the firm earned $1.60 EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, equities research analysts anticipate that International Business Machines Corporation will post 12.4 EPS for the current year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th were given a dividend of $1.69 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from International Business Machines’s previous quarterly dividend of $1.68. International Business Machines’s payout ratio is currently 59.77%.

Key Headlines Impacting International Business Machines

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

• Positive Sentiment: Jim Cramer publicly favored IBM over Xanadu Quantum, saying investors should “buy IBM” if they want exposure to the quantum theme, which can reinforce confidence in IBM as a more credible and profitable long-term AI/quantum name. Jim Cramer Recommends IBM Over Xanadu Quantum
• Positive Sentiment: IBM announced an expanded global collaboration with JA Worldwide to deliver AI and digital-skills education to up to one million high-school students, highlighting IBM’s efforts to build ecosystem adoption and strengthen its brand in AI. JA Worldwide and IBM Expand Global Collaboration with Goal of Delivering AI and Digital Skills to Up to One Million High-School Students
• Positive Sentiment: Several articles framed IBM as a strong long-term beneficiary of the quantum-computing boom, including coverage that described IBM as a “safer play” alongside Alphabet in the sector and another piece calling IBM a long-term buy tied to its recurring-revenue software and infrastructure engine. Quantum Computing Looks Like Nvidia in 2019. This Could Be the Generational Buy of the Decade.
• Neutral Sentiment: IBM CEO Arvind Krishna’s recent comments on quantum advantage, AI usage, and the company’s profit strategy keep IBM in the AI/quantum conversation, but the remarks were more strategic than immediately financial. IBM CEO Krishna on Quantum Advantage, Profit Strategy
• Neutral Sentiment: One analyst-style article argued that Celestica may be a better AI infrastructure buy than IBM due to faster growth and a cheaper valuation, which is a reminder that IBM still faces competition for investor capital in AI hardware/infrastructure. Celestica vs. IBM: Which AI Infrastructure Stock is the Better Buy?
• Negative Sentiment: Recent 247WallSt commentary said IBM has already rallied enough that some investors may prefer to wait for a pullback, and it also noted the stock is not cheap after IBM’s large quantum investment announcement. IBM Just Placed a $10 Billion Bet to Become the Nvidia of Quantum Computing

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.