Triumph Capital Management Has $1.53 Million Stock Holdings in International Business Machines Corporation $IBM

Triumph Capital Management boosted its position in shares of International Business Machines Corporation (NYSE:IBM) by 245.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,444 shares of the technology company’s stock after acquiring an additional 3,867 shares during the period. Triumph Capital Management’s holdings in International Business Machines were worth $1,531,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Basepoint Wealth LLC bought a new stake in shares of International Business Machines during the fourth quarter valued at approximately $25,000. Joseph Group Capital Management bought a new position in International Business Machines in the fourth quarter worth $28,000. Cornerstone Financial Management LLC bought a new position in International Business Machines in the fourth quarter worth $28,000. SWAN Capital LLC acquired a new stake in International Business Machines during the third quarter worth $28,000. Finally, LFA Lugano Financial Advisors SA bought a new stake in International Business Machines in the 4th quarter valued at $31,000. Institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on IBM. Bank of America raised their price objective on shares of International Business Machines from $315.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, July 6th. BMO Capital Markets lowered their target price on shares of International Business Machines from $270.00 to $230.00 and set a “market perform” rating on the stock in a research note on Thursday, July 23rd. Sanford C. Bernstein reissued a “market perform” rating on shares of International Business Machines in a research report on Thursday, July 16th. Argus decreased their price objective on International Business Machines from $360.00 to $280.00 and set a “buy” rating on the stock in a report on Thursday, July 16th. Finally, Morgan Stanley lowered their price objective on International Business Machines from $293.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 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’s stock. According to data from MarketBeat, International Business Machines has an average rating of “Moderate Buy” and a consensus price target of $265.40.

International Business Machines Stock Up 2.0%

IBM opened at $237.31 on Thursday. The firm’s 50-day simple moving average is $248.73 and its 200-day simple moving average is $251.49. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.74 and a current ratio of 0.79. International Business Machines Corporation has a twelve month low of $199.19 and a twelve month high of $332.46. The firm has a market cap of $223.57 billion, a price-to-earnings ratio of 21.06, a PEG ratio of 2.28 and a beta of 0.70.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 the consensus estimate of $17.46 billion. During the same period last year, the firm posted $2.80 EPS. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. Equities research analysts anticipate that International Business Machines Corporation will post 12.33 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, August 10th. This represents a $6.76 annualized dividend and a dividend yield of 2.8%. International Business Machines’s dividend payout ratio (DPR) is presently 59.98%.

International Business Machines News Summary

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 milestone supports IBM’s roadmap toward a 1,000-qubit system by 2027 and the planned fault-tolerant Quantum Starling system in 2029. IBM Connects Its First Modular Cryogenic Systems in Milestone Toward Fault-Tolerant Quantum Computing
• Positive Sentiment: The quantum advance is being viewed as a meaningful engineering step toward fault-tolerant computing, helping support IBM’s differentiated position in quantum technology and contributing to the upward movement in IBM shares. IBM Clears Major Hardware Hurdle on the Path to Its Quantum Supercomputer
• Positive Sentiment: IBM’s Maximo government software-as-a-service product received FedRAMP Moderate authorization, potentially expanding its addressable U.S. government market. Separate commissioned research also reported that Maximo users show higher maintenance maturity than industry peers, supporting the product’s enterprise value proposition. IBM Secures FedRAMP Moderate Authorization For Maximo Government SaaS
• Neutral Sentiment: Arrow Electronics expanded its IBM distribution coverage, which could improve channel reach and support sales growth, but the announcement provided no immediate financial targets. Arrow Electronics Expands IBM Distribution Coverage to Support Channel Growth
• Negative Sentiment: A law firm announced a securities-fraud investigation related to IBM’s prior stock decline. The notice is not an allegation finding or formal determination of wrongdoing, but it adds headline and potential litigation risk. IBM Investor Reminder Securities Fraud Investigation

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.