Summit Asset Management LLC Makes New $1.51 Million Investment in 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 13F filing with the Securities and Exchange Commission. The fund bought 5,373 shares of the technology company’s stock, valued at approximately $1,511,000.

Other large investors have also recently added to or reduced their stakes in the company. Basepoint Wealth LLC bought a new stake in shares of International Business Machines during the 4th quarter worth $25,000. Portus Wealth Advisors LLC bought a new position in International Business Machines in the 1st quarter worth $26,000. Cornerstone Financial Management LLC acquired a new position in International Business Machines during the 4th quarter worth $28,000. SWAN Capital LLC bought a new stake in International Business Machines during the third quarter valued at about $28,000. Finally, Bare Financial Services Inc boosted its holdings in International Business Machines by 114.6% during the second quarter. Bare Financial Services Inc now owns 103 shares of the technology company’s stock valued at $29,000 after acquiring an additional 55 shares during the period. Institutional investors own 58.96% of the company’s stock.

Insider Transactions at International Business Machines

In related news, SVP Robert David Thomas sold 25,000 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $230.32, for a total value of $5,758,000.00. Following the completion of the transaction, the senior vice president owned 47,800 shares of the company’s stock, valued at $11,009,296. This represents a 34.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.27% of the stock is owned by company insiders.

International Business Machines Price Performance

Shares of IBM stock opened at $233.73 on Tuesday. International Business Machines Corporation has a 12 month low of $199.19 and a 12 month high of $332.46. The company has a market capitalization of $220.20 billion, a P/E ratio of 20.74, a P/E/G ratio of 2.31 and a beta of 0.70. The stock has a 50 day moving average of $244.18 and a two-hundred day moving average of $247.91. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.63.

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

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 10th will be given 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 59.98%.

International Business Machines News Summary

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

Wall Street Analyst Weigh In

IBM has been the topic of a number of recent analyst reports. Weiss Ratings lowered International Business Machines from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, June 24th. KeyCorp downgraded International Business Machines to a “sector weight” rating in a research report on Tuesday, June 23rd. HSBC set a $175.00 price objective on shares of International Business Machines and gave the stock a “reduce” rating in a research note on Thursday, July 16th. JPMorgan Chase & Co. reduced their price target on shares of International Business Machines from $291.00 to $250.00 and set an “overweight” rating for the company in a report on Friday, July 17th. Finally, Craig Hallum assumed coverage on shares of International Business Machines in a report on Wednesday, August 19th. They set a “buy” rating on the stock. Sixteen investment 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. According to data from MarketBeat, International Business Machines has a consensus rating of “Moderate Buy” and an average price target of $265.90.

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.