Churchill Financial Advisors LLC Invests $7.50 Million in International Business Machines Corporation $IBM

Churchill Financial Advisors LLC bought a new position in shares of International Business Machines Corporation (NYSE:IBM) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 25,309 shares of the technology company’s stock, valued at approximately $7,497,000. International Business Machines makes up 2.3% of Churchill Financial Advisors LLC’s investment portfolio, making the stock its 8th largest position.

Other large investors also recently modified their holdings of the company. VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in International Business Machines by 424.6% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 260,740 shares of the technology company’s stock worth $77,234,000 after purchasing an additional 211,040 shares during the period. GLOBALT Investments LLC GA raised its holdings in International Business Machines by 19.1% in 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 period. Waverton Investment Management Ltd raised its holdings in International Business Machines by 3.3% in 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 period. Newbridge Financial Services Group Inc. raised its holdings in International Business Machines by 30.0% in 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 period. Finally, NEOS Investment Management LLC raised its holdings in International Business Machines by 51.7% in 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 period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other International Business Machines news, Director Michael Miebach acquired 434 shares of the company’s stock in a transaction on Wednesday, February 25th. The stock was acquired at an average price of $233.33 per share, for a total transaction of $101,265.22. Following the purchase, the director directly owned 434 shares of the company’s stock, valued at $101,265.22. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.27% of the stock is owned by company insiders.

International Business Machines Stock Performance

NYSE IBM opened at $253.88 on Monday. The firm has a 50-day moving average of $238.70 and a 200-day moving average of $272.21. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.80. The stock has a market cap of $238.62 billion, a PE ratio of 22.45, a P/E/G ratio of 2.63 and a beta of 0.58. 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 posted its earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.81 by $0.10. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The company had revenue of $15.92 billion during the quarter, compared to analysts’ expectations of $15.60 billion. During the same quarter last year, the company posted $1.60 EPS. International Business Machines’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, sell-side analysts anticipate that International Business Machines Corporation will post 12.4 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th will be paid a $1.69 dividend. This is a positive change from International Business Machines’s previous quarterly dividend of $1.68. The ex-dividend date is Friday, May 8th. This represents a $6.76 annualized dividend and a yield of 2.7%. International Business Machines’s dividend payout ratio is presently 59.77%.

Key Headlines Impacting International Business Machines

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

• Positive Sentiment: IBM and the U.S. Commerce Department announced a plan to launch America’s first purpose-built quantum foundry, with IBM set to receive the largest share of federal support and contribute matching capital. IBM and U.S. Department of Commerce Announce America’s First Purpose-Built Quantum Foundry, Supported by Proposed $1 Billion CHIPS Award
• Positive Sentiment: Analysts and media reports say the quantum funding package is a major new catalyst for IBM, helping drive strong share-price momentum and lifting sentiment around the stock’s long-term growth prospects. IBM shares extend rally as Wedbush calls US quantum investment a “new catalyst”
• Positive Sentiment: IBM’s push into quantum computing and related hot tech segments is being viewed as evidence the company is expanding beyond legacy businesses into higher-growth opportunities. Why IBM Stock Was Rocking it This Week
• Neutral Sentiment: Some coverage highlights that IBM’s valuation, debt load, and execution risk will matter as the company commits capital to the quantum foundry project. IBM’s US$1b Anderon Quantum Foundry Puts Valuation And Debt In Focus

Analyst Ratings Changes

Several research firms have weighed in on IBM. Citigroup began coverage on shares of International Business Machines in a report on Friday, April 10th. They issued a “buy” rating and a $285.00 target price on the stock. Stifel Nicolaus set a $290.00 target price on shares of International Business Machines in a report on Friday. Morgan Stanley increased their target price on shares of International Business Machines from $215.00 to $225.00 and gave the stock an “equal weight” rating in a report on Thursday, April 23rd. Royal Bank Of Canada cut their target price on shares of International Business Machines from $330.00 to $300.00 and set an “outperform” rating on the stock in a report on Wednesday, May 6th. Finally, Erste Group Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $294.41.

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.