Palmer Knight Co Invests $4.95 Million in International Business Machines Corporation $IBM

Palmer Knight Co acquired a new stake in International Business Machines Corporation (NYSE:IBM) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 17,605 shares of the technology company’s stock, valued at approximately $4,951,000. International Business Machines comprises 1.9% of Palmer Knight Co’s holdings, making the stock its 26th largest position.

A number of other hedge funds have also recently bought and sold shares of IBM. Basepoint Wealth LLC acquired a new position in International Business Machines in the 4th quarter valued at $25,000. Portus Wealth Advisors LLC acquired a new stake in shares of International Business Machines during the first quarter worth $26,000. Harborfront Financial Group LLC purchased a new stake in shares of International Business Machines in the second quarter valued at $27,000. Cornerstone Financial Management LLC purchased a new stake in shares of International Business Machines in the fourth quarter valued at $28,000. Finally, SWAN Capital LLC acquired a new position in International Business Machines in the third quarter valued at $28,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on IBM shares. Stifel Nicolaus lowered their price target on International Business Machines from $290.00 to $235.00 and set a “buy” rating for the company in a report on Monday, July 20th. Roth Capital restated a “buy” rating on shares of International Business Machines in a report on Wednesday, June 3rd. BMO Capital Markets dropped their price target on shares of International Business Machines from $270.00 to $230.00 and set a “market perform” rating for the company in a research report on Thursday, July 23rd. Robert W. Baird started coverage on shares of International Business Machines in a research note on Tuesday, July 21st. They set a “neutral” rating and a $230.00 price target on the stock. Finally, KeyCorp cut shares of International Business Machines to a “sector weight” rating in a research note on Tuesday, June 23rd. Sixteen research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $265.90.

International Business Machines News Roundup

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

• Positive Sentiment: Quantum-computing advances support IBM’s growth narrative. IBM reportedly achieved a 25-fold throughput improvement, reinforcing its position in quantum hardware and software and adding to investor enthusiasm around emerging technology opportunities. Quantum Computing News: IBM Hits 25x Throughput Gain, RGTI Shows Up to 100x Speedup
• Positive Sentiment: Valuation and shareholder returns are attracting buyers. One analysis says IBM may trade below estimates of intrinsic value based on discounted cash flow, earnings and cash-flow multiples. Its long-term return, sizable dividend and reported $1.69-per-share distribution strengthen the income and value case. IBM Stock Could Be Below Fair Value Despite Cautious Broader Checks
• Positive Sentiment: AI and strategic investments broaden IBM’s growth prospects. IBM remains a favored long-term AI stock among retail investors, while IBM Ventures’ investment in physics-acceleration company BQP provides additional exposure to advanced computing. IBM Ventures Backs Physics Acceleration Firm BQP
• Neutral Sentiment: IBM’s latest trading-session advance reflected broader market strength, but the company’s shares remain below both their 50-day and 200-day moving averages, indicating that technical momentum is still mixed. IBM Beats Stock Market Upswing
• Negative Sentiment: A law-firm investigation adds headline and litigation risk. Bleichmar Fonti & Auld announced an investigation into potential misrepresentations concerning IBM’s business deal pace. The inquiry does not establish wrongdoing, but it could pressure the stock if additional claims or weak bookings emerge. IBM Under Investigation for Securities Fraud

International Business Machines Stock Performance

Shares of IBM stock opened at $234.00 on Friday. The company’s fifty day simple moving average is $242.40 and its 200-day simple moving average is $247.21. International Business Machines Corporation has a 52 week low of $199.19 and a 52 week high of $332.46. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.63. The company has a market cap of $220.46 billion, a PE ratio of 20.76, a P/E/G ratio of 2.21 and a beta of 0.71.

International Business Machines (NYSE:IBM) last announced 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. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. The firm had revenue of $17.16 billion during the quarter, compared to analysts’ expectations of $17.46 billion. During the same period in the prior year, the company earned $2.80 EPS. The firm’s revenue was up 1.1% on a year-over-year basis. As a group, equities research analysts anticipate that International Business Machines Corporation will post 12.33 EPS for the current year.

International Business Machines Announces Dividend

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 (DPR) is 59.98%.

Insider Activity at International Business Machines

In related news, SVP Robert Thomas sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $230.32, for a total transaction of $5,758,000.00. Following the sale, the senior vice president directly owned 47,800 shares in the company, valued at approximately $11,009,296. This trade represents a 34.34% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.27% of the company’s stock.

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.