Summit Asset Management LLC Acquires Shares of 5,373 International Business Machines Corporation $IBM

Summit Asset Management LLC bought a new position in International Business Machines Corporation (NYSE:IBM) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,373 shares of the technology company’s stock, valued at approximately $1,511,000.

Several other institutional investors have also made changes to their positions in IBM. Brighton Jones LLC boosted its stake in International Business Machines by 12.4% in the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock worth $4,619,000 after purchasing an additional 2,323 shares during the period. Sivia Capital Partners LLC grew its position in International Business Machines by 10.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,938 shares of the technology company’s stock worth $571,000 after purchasing an additional 186 shares in the last quarter. Jump Financial LLC acquired a new stake in International Business Machines during the 2nd quarter valued at $211,000. Ieq Capital LLC raised its stake in International Business Machines by 2.2% during the 2nd quarter. Ieq Capital LLC now owns 38,617 shares of the technology company’s stock valued at $11,383,000 after purchasing an additional 843 shares during the period. Finally, Vivaldi Capital Management LP lifted its holdings in shares of International Business Machines by 11.6% in the second quarter. Vivaldi Capital Management LP now owns 1,017 shares of the technology company’s stock valued at $300,000 after purchasing an additional 106 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on IBM shares. Needham & Company LLC assumed coverage on International Business Machines in a research report on Wednesday, June 3rd. They issued a “buy” rating for the company. Susquehanna increased their price objective on International Business Machines from $225.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday. Piper Sandler upgraded International Business Machines to an “overweight” rating in a research report on Tuesday, June 23rd. JPMorgan Chase & Co. decreased their price objective on International Business Machines from $291.00 to $250.00 and set an “overweight” rating for the company in a research report on Friday, July 17th. Finally, Weiss Ratings cut International Business Machines from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, June 24th. Sixteen investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $265.90.

Key International Business Machines News

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

• Positive Sentiment: IBM’s acquisition of HRL Laboratories adds silicon-spin qubit, advanced materials and manufacturing expertise that could improve the company’s ability to develop scalable quantum-computing systems. The deal strengthens IBM’s technology pipeline, although commercial benefits may take years to materialize. Can IBM’s HRL Acquisition Boost Its Quantum Computing Capabilities?
• Positive Sentiment: Susquehanna analyst James Friedman raised his IBM price target to $235, citing several upcoming quantum-computing catalysts. However, his caution indicates that quantum remains an emerging opportunity rather than an immediate earnings driver. Can Quantum Computing Save IBM Stock?
• Positive Sentiment: A new market report identifies IBM as a leading enterprise blockchain and Blockchain-as-a-Service provider, highlighting its cloud-native offerings and exposure to expected blockchain-market growth. IBM Emerges As a Leading Enterprise Blockchain Provider
• Neutral Sentiment: Research reports forecast growth in biological computing, computer-based sensing, business service management, UNIX and high-throughput computing. IBM is listed among market participants, but the reports do not announce contracts, revenue changes or specific financial benefits for the company.
• Negative Sentiment: Coverage says IBM’s stock has fallen sharply after missing second-quarter revenue expectations, reinforcing investor concerns about product and top-line momentum. Quantum initiatives may not offset near-term execution concerns. IBM Stock Falls 19%: Will Quantum Computing Spark a Recovery?
• Negative Sentiment: A securities law firm announced an investigation into possible securities-law violations following IBM’s significant decline. The announcement is not a finding of wrongdoing, but it adds headline and potential litigation risk. IBM Investment Losses and Pending Securities Fraud Investigation
• Negative Sentiment: Reports of a senior executive selling approximately $5.8 million of IBM stock may weigh modestly on sentiment, though insider sales can reflect personal financial planning and are not necessarily evidence of deteriorating fundamentals. IBM SVP Sells $5.758 Million in Stock

International Business Machines Trading Down 0.8%

Shares of NYSE:IBM opened at $233.73 on Tuesday. The firm has a fifty day moving average of $244.18 and a two-hundred day moving average of $247.91. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.63. International Business Machines Corporation has a 12-month low of $199.19 and a 12-month high of $332.46. The firm has a market capitalization of $220.20 billion, a P/E ratio of 20.74, a price-to-earnings-growth ratio of 2.31 and a beta of 0.70.

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

International Business Machines Announces Dividend

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

Insider Activity at International Business Machines

In related news, SVP Robert David Thomas sold 25,000 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $230.32, for a total value of $5,758,000.00. Following the transaction, the senior vice president owned 47,800 shares in the company, valued at approximately $11,009,296. This represents a 34.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.27% of the company’s stock.

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.