Eurizon Capital SGR S.p.A. Purchases Shares of 380,592 International Business Machines Corporation $IBM

Eurizon Capital SGR S.p.A. purchased a new stake in International Business Machines Corporation (NYSE:IBM) in the 4th quarter, Holdings Channel reports. The firm purchased 380,592 shares of the technology company’s stock, valued at approximately $113,024,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. CVA Family Office LLC grew its holdings in International Business Machines by 1.4% in the 4th quarter. CVA Family Office LLC now owns 2,389 shares of the technology company’s stock valued at $708,000 after buying an additional 33 shares during the period. Foster Group Inc. lifted its stake in shares of International Business Machines by 1.3% in the 4th quarter. Foster Group Inc. now owns 2,507 shares of the technology company’s stock valued at $742,000 after purchasing an additional 33 shares in the last quarter. New Covenant Trust Company N.A. lifted its stake in shares of International Business Machines by 3.8% in the 4th quarter. New Covenant Trust Company N.A. now owns 905 shares of the technology company’s stock valued at $264,000 after purchasing an additional 33 shares in the last quarter. McGowan Group Asset Management Inc. lifted its stake in shares of 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 in the last quarter. Finally, Marco Investment Management LLC lifted its stake in shares of International Business Machines by 0.3% in the 3rd quarter. Marco Investment Management LLC now owns 10,774 shares of the technology company’s stock valued at $3,040,000 after purchasing an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Key Headlines Impacting International Business Machines

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IBM. 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 note on Wednesday, February 25th. Stifel Nicolaus set a $290.00 price objective on International Business Machines in a research note on Friday, May 22nd. DZ Bank raised 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. Wedbush reaffirmed an “outperform” rating and issued a $320.00 price objective on shares of International Business Machines in a research note on Friday. Finally, Morgan Stanley lifted their price objective on International Business Machines from $215.00 to $225.00 and gave the company an “equal weight” rating in a research note on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $294.41.

International Business Machines Stock Performance

International Business Machines stock opened at $298.26 on Friday. The stock’s 50 day moving average price is $240.16 and its 200 day moving average price is $270.98. The firm has a market capitalization of $280.33 billion, a PE ratio of 26.37, a price-to-earnings-growth ratio of 2.74 and a beta of 0.58. 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 one year low of $212.34 and a one year high of $324.90.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, April 22nd. The technology company reported $1.91 EPS for the quarter, topping the consensus estimate 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 return on equity of 37.23% and a net margin of 15.61%.International Business Machines’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.60 EPS. As a group, sell-side analysts expect that International Business Machines Corporation will post 12.4 EPS for the current fiscal year.

International Business Machines Increases Dividend

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

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.