Kornitzer Capital Management Inc. KS lessened its holdings in shares of International Business Machines Corporation (NYSE:IBM – Free Report) by 1.0% in the third quarter, HoldingsChannel reports. The fund owned 248,910 shares of the technology company’s stock after selling 2,585 shares during the period. International Business Machines makes up about 1.0% of Kornitzer Capital Management Inc. KS’s portfolio, making the stock its 22nd largest holding. Kornitzer Capital Management Inc. KS’s holdings in International Business Machines were worth $54,743,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of International Business Machines during the second quarter valued at $21,586,659,000. State Street Corp lifted its holdings in International Business Machines by 2.7% in the second quarter. State Street Corp now owns 56,045,055 shares of the technology company’s stock worth $15,760,430,000 after purchasing an additional 1,450,562 shares during the period. Bank of America Corp DE acquired a new stake in International Business Machines in the second quarter worth about $4,214,868,000. Bank of New York Mellon Corp acquired a new stake in International Business Machines in the second quarter worth about $2,606,782,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in International Business Machines by 0.7% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,621,512 shares of the technology company’s stock valued at $2,143,245,000 after buying an additional 53,388 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have commented on IBM shares. BMO Capital Markets raised their target price on shares of International Business Machines from $230.00 to $265.00 and gave the company a “market perform” rating in a research note on Thursday, October 22nd. Stifel Nicolaus boosted their price target on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, October 22nd. Citic Securities upped their price target on shares of International Business Machines from $294.00 to $297.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Craig Hallum started coverage on shares of International Business Machines in a report on Wednesday, August 19th. They issued a “buy” rating for the company. Finally, Jefferies Financial Group raised their price objective on shares of International Business Machines from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, October 22nd. Nineteen analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, International Business Machines presently has a consensus rating of “Moderate Buy” and a consensus price target of $266.88.
Read Our Latest Stock Report on IBM
Insider Buying and Selling at International Business Machines
In other news, SVP Robert Thomas sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The shares were 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 in the company, valued at approximately $11,009,296. This trade represents a 34.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.27% of the company’s stock.
International Business Machines Trading Down 1.0%
Shares of International Business Machines stock opened at $244.71 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 1.57. The firm has a market cap of $231.28 billion, a price-to-earnings ratio of 20.86, a price-to-earnings-growth ratio of 2.41 and a beta of 0.78. The business has a fifty day simple moving average of $236.76 and a 200-day simple moving average of $248.64. International Business Machines Corporation has a fifty-two week low of $199.19 and a fifty-two week high of $332.46.
International Business Machines (NYSE:IBM – Get Free Report) last announced its earnings results on Wednesday, October 21st. The technology company reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.10. The business had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $16.82 billion. International Business Machines had a return on equity of 34.37% and a net margin of 15.99%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $2.65 earnings per share. On average, equities analysts forecast that International Business Machines Corporation will post 12.41 EPS for the current fiscal year.
International Business Machines Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Tuesday, November 10th will be given a dividend of $1.69 per share. The ex-dividend date is Tuesday, November 10th. This represents a $6.76 annualized dividend and a dividend yield of 2.8%. International Business Machines’s dividend payout ratio (DPR) is 57.63%.
Key Headlines Impacting International Business Machines
Here are the key news stories impacting International Business Machines this week:
- Positive Sentiment: Evercore’s sum-of-the-parts analysis values IBM at $290 a share, above its $275 price target, suggesting the firm sees potential value in IBM’s businesses, including quantum computing. IBM Stock Could Be More Than a ‘Safe Haven.’ Quantum Computing Is a Big Reason
- Positive Sentiment: IBM’s Quantum System Two is now operational at the University of Chicago, expanding its quantum-computing presence and partnerships in Illinois. The installation strengthens IBM’s research and commercialization ecosystem, though financial returns are likely longer term. IBM Unveils Its Most Advanced Quantum Computer in Chicago
- Positive Sentiment: IBM, AMD and Oak Ridge National Laboratory launched a platform combining quantum and high-performance computing to advance quantum error correction, supporting IBM’s technology roadmap. The initiative targets progress toward a scientifically relevant quantum computer by 2028. Oak Ridge National Laboratory, IBM, and AMD Launch New Co-Design Platform for Quantum Error Correction
- Neutral Sentiment: A recent valuation commentary questions whether IBM’s cash-flow outlook supports the stock’s longer-term share-price gains. The excerpt does not provide a firm valuation conclusion, but it highlights investor scrutiny of the company’s price relative to future cash generation. IBM Stock Could Trade At A Discount After Quantum Computing News
International Business Machines Company Profile
International Business Machines Corporation (IBM) is a global technology company that provides software, consulting, infrastructure and related services to businesses and public-sector organizations. Its offerings include hybrid cloud and artificial intelligence solutions, enterprise software, IT consulting, and systems such as IBM Z mainframes and Power servers.
IBM also develops technologies in areas including data management, automation, cybersecurity and quantum computing. Its consulting teams help clients design, build and manage technology systems and business processes.
The company traces its roots to the Computing-Tabulating-Recording Company, formed in 1911, and adopted the name International Business Machines in 1924.
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