Envestnet Portfolio Solutions Inc. Increases Stock Holdings in International Business Machines Corporation $IBM

Envestnet Portfolio Solutions Inc. raised its holdings in International Business Machines Corporation (NYSE:IBM) by 39.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 34,908 shares of the technology company’s stock after acquiring an additional 9,883 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in International Business Machines were worth $9,723,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in International Business Machines by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 97,216,131 shares of the technology company’s stock worth $28,796,390,000 after purchasing an additional 1,439,824 shares in the last quarter. State Street Corp increased its stake in International Business Machines by 1.0% during the 4th quarter. State Street Corp now owns 54,996,293 shares of the technology company’s stock valued at $16,290,452,000 after purchasing an additional 518,321 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of International Business Machines by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 22,605,083 shares of the technology company’s stock worth $6,679,105,000 after buying an additional 336,069 shares during the last quarter. Capital World Investors lifted its stake in shares of International Business Machines by 29.2% during the fourth quarter. Capital World Investors now owns 22,021,912 shares of the technology company’s stock worth $6,523,720,000 after buying an additional 4,976,756 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of International Business Machines by 7.0% during the first quarter. Bank of America Corp DE now owns 16,063,653 shares of the technology company’s stock worth $3,893,669,000 after buying an additional 1,049,602 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Argus cut their target price on International Business Machines from $360.00 to $280.00 and set a “buy” rating on the stock in a research report on Thursday, July 16th. Wall Street Zen cut International Business Machines from a “hold” rating to a “sell” rating in a research report on Saturday, July 18th. The Goldman Sachs Group set a $270.00 price target on International Business Machines in a research note on Thursday, July 23rd. Morgan Stanley reduced their price objective on International Business Machines from $293.00 to $190.00 and set an “equal weight” rating for the company in a research note on Thursday, July 23rd. Finally, Piper Sandler raised International Business Machines to an “overweight” rating in a report on Tuesday, June 23rd. Sixteen analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $265.40.

More International Business Machines News

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

• Positive Sentiment: IBM successfully connected and cooled two modular cryogenic systems to below 15 millikelvin, creating an architecture intended to link hundreds of quantum chips. The company says the design supports its goal of a 1,000-programmable-qubit system and the planned Quantum Starling fault-tolerant computer in 2029. IBM Connects Its First Modular Cryogenic Systems in Milestone Toward Fault-Tolerant Quantum Computing
• Positive Sentiment: The quantum announcement has generated favorable coverage and previously supported gains in IBM shares, reinforcing the company’s positioning in the emerging quantum-computing race. If IBM meets its roadmap, the technology could create a significant long-term growth opportunity beyond its traditional software, consulting and infrastructure businesses. IBM Clears Major Hardware Hurdle on the Path to Its Quantum Supercomputer
• Neutral Sentiment: IBM-related customer news highlighted continued use of IBM Maximo software for industrial safety and asset management. The award provides third-party validation for the platform, but its near-term financial impact appears limited. CEPR and Cohesive Receive Maximo Award for Power Plant Health and Safety Excellence
• Negative Sentiment: A law firm announced an investigation into possible securities-law violations following IBM’s substantial recent decline. The announcement does not establish wrongdoing, but it adds headline and litigation risk while potentially undermining investor confidence. IBM Investor Reminder: Securities Fraud Investigation
• Negative Sentiment: Recent earnings showed revenue below analyst expectations even though EPS matched consensus, while commentary comparing IBM with Accenture questioned IBM’s relative dividend and financial appeal. With the stock below its 50-day and 200-day moving averages, investors may be demanding clearer near-term growth before assigning more value to the quantum opportunity. IBM vs. Accenture: The Better Dividend Stock May Surprise You

International Business Machines Trading Down 1.6%

Shares of International Business Machines stock opened at $233.40 on Friday. The stock has a market cap of $219.89 billion, a PE ratio of 20.71, a price-to-earnings-growth ratio of 2.33 and a beta of 0.70. The firm has a fifty day moving average price of $247.90 and a 200 day moving average price of $250.98. International Business Machines Corporation has a 1 year low of $199.19 and a 1 year high of $332.46. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.79 and a quick ratio of 0.74.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, July 22nd. The technology company reported $2.93 EPS for the quarter, meeting the consensus estimate of $2.93. The company had revenue of $17.16 billion for the quarter, compared to analyst estimates of $17.46 billion. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. The firm’s revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.80 earnings per share. Equities research analysts predict that International Business Machines Corporation will post 12.33 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 10th will be paid a $1.69 dividend. The ex-dividend date is Monday, August 10th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 2.9%. International Business Machines’s dividend payout ratio is presently 59.98%.

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.