Ilmarinen Mutual Pension Insurance Co Trims Holdings in International Business Machines Corporation $IBM

Ilmarinen Mutual Pension Insurance Co lowered its position in International Business Machines Corporation (NYSE:IBM) by 5.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 176,736 shares of the technology company’s stock after selling 11,000 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in International Business Machines were worth $52,351,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of IBM. CVA Family Office LLC boosted its holdings in shares of International Business Machines by 1.4% in the 4th quarter. CVA Family Office LLC now owns 2,389 shares of the technology company’s stock valued at $708,000 after acquiring an additional 33 shares during the last quarter. Foster Group Inc. raised its holdings in shares of International Business Machines by 1.3% during the fourth quarter. Foster Group Inc. now owns 2,507 shares of the technology company’s stock worth $742,000 after purchasing an additional 33 shares during the last quarter. New Covenant Trust Company N.A. lifted its position in International Business Machines by 3.8% during the fourth quarter. New Covenant Trust Company N.A. now owns 905 shares of the technology company’s stock valued at $264,000 after purchasing an additional 33 shares during the period. McGowan Group Asset Management Inc. boosted its holdings in International Business Machines by 1.2% in the fourth quarter. McGowan Group Asset Management Inc. now owns 2,693 shares of the technology company’s stock valued at $798,000 after purchasing an additional 33 shares during the last quarter. Finally, Marco Investment Management LLC grew its position in International Business Machines by 0.3% during the 3rd quarter. Marco Investment Management LLC now owns 10,774 shares of the technology company’s stock worth $3,040,000 after purchasing an additional 34 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

More International Business Machines News

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

• Positive Sentiment: IBM announced it will invest more than $10 billion in quantum computing over the next five years, aiming to build a large-scale, error-corrected quantum computer by 2029. Investors appear to be betting this could strengthen IBM’s position in a high-growth, strategically important technology area. IBM to invest $10 billion for large-scale quantum computer by 2029
• Positive Sentiment: The company also committed $5 billion to Project Lightwell, a Red Hat-backed initiative to improve open-source software security with AI tools and more than 20,000 engineers. That push could expand IBM’s cybersecurity and enterprise software footprint while creating a new revenue opportunity. IBM commits $5 billion to secure open-source software
• Positive Sentiment: Commentary from analysts and media outlets says the spending plans may help “future-proof” IBM by positioning it more aggressively in AI, quantum computing, and cybersecurity, which has added to bullish sentiment around the stock. IBM shares rise after unveiling $15B cybersecurity and quantum investment plan
• Neutral Sentiment: IBM also reported a legal development involving older former HR workers’ age discrimination claims, but this appears less likely to move the stock materially than the strategic investment announcements. IBM Ditches Laid-Off Older HR Workers’ Age Discrimination Claims

International Business Machines Stock Up 3.5%

Shares of NYSE IBM opened at $264.25 on Friday. The stock has a market cap of $248.36 billion, a PE ratio of 23.36, a P/E/G ratio of 2.64 and a beta of 0.58. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75. International Business Machines Corporation has a 12-month low of $212.34 and a 12-month high of $324.90. The company has a 50-day moving average of $239.22 and a 200 day moving average of $270.79.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.10. The business had revenue of $15.92 billion for the quarter, compared to analysts’ expectations of $15.60 billion. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.60 EPS. As a group, sell-side analysts predict that International Business Machines Corporation will post 12.4 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th will be issued a $1.69 dividend. This represents a $6.76 annualized dividend and a yield of 2.6%. The ex-dividend date is Friday, May 8th. This is an increase from International Business Machines’s previous quarterly dividend of $1.68. International Business Machines’s dividend payout ratio (DPR) is currently 59.77%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on IBM shares. Jefferies Financial Group reduced their price objective on International Business Machines from $370.00 to $320.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Weiss Ratings cut International Business Machines from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. BMO Capital Markets decreased their price target on International Business Machines from $290.00 to $270.00 and set a “market perform” rating for the company in a report on Thursday, April 23rd. UBS Group upgraded International Business Machines from a “sell” rating to a “neutral” rating and set a $236.00 price objective on the stock in a research report on Wednesday, February 25th. Finally, Morgan Stanley lifted their target price on shares of International Business Machines from $215.00 to $225.00 and gave the company an “equal weight” rating in a report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $294.41.

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.