Sumitomo Mitsui Financial Group Inc. Grows Position in International Business Machines Corporation $IBM

Sumitomo Mitsui Financial Group Inc. increased its position in International Business Machines Corporation (NYSE:IBM) by 56.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,030 shares of the technology company’s stock after purchasing an additional 370 shares during the period. Sumitomo Mitsui Financial Group Inc.’s holdings in International Business Machines were worth $298,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brooklyn Investment Group grew its stake in shares of International Business Machines by 32.7% in the first quarter. Brooklyn Investment Group now owns 6,622 shares of the technology company’s stock worth $1,647,000 after acquiring an additional 1,630 shares during the last quarter. Vise Technologies Inc. bought a new stake in International Business Machines during the 2nd quarter valued at about $16,565,000. Edgar Lomax Co. VA raised its holdings in International Business Machines by 5.7% in the first quarter. Edgar Lomax Co. VA now owns 235,967 shares of the technology company’s stock worth $58,676,000 after buying an additional 12,690 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of International Business Machines by 2.1% in the second quarter. Vanguard Group Inc. now owns 95,051,475 shares of the technology company’s stock worth $28,019,274,000 after buying an additional 1,913,708 shares in the last quarter. Finally, Thames Capital Management LLC purchased a new stake in shares of International Business Machines during the second quarter valued at approximately $2,710,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on IBM. UBS Group boosted their price objective on shares of International Business Machines from $200.00 to $210.00 and gave the stock a “sell” rating in a report on Thursday, October 23rd. BMO Capital Markets upped their price target on International Business Machines from $300.00 to $305.00 and gave the company a “market perform” rating in a report on Thursday, October 23rd. Jefferies Financial Group increased their price objective on International Business Machines from $280.00 to $305.00 and gave the company a “hold” rating in a research report on Tuesday, October 21st. Oppenheimer began coverage on shares of International Business Machines in a research note on Friday, November 21st. They set an “outperform” rating and a $360.00 target price on the stock. Finally, Royal Bank Of Canada reduced their price target on shares of International Business Machines from $315.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, International Business Machines currently has an average rating of “Moderate Buy” and an average price target of $291.08.

International Business Machines Trading Down 0.3%

International Business Machines stock opened at $303.66 on Thursday. International Business Machines Corporation has a 52-week low of $214.50 and a 52-week high of $324.90. The company has a market cap of $283.84 billion, a P/E ratio of 36.32, a P/E/G ratio of 4.33 and a beta of 0.71. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 1.97. The business has a 50-day simple moving average of $292.35 and a two-hundred day simple moving average of $274.33.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 22nd. The technology company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.45 by $0.20. The company had revenue of $16.33 billion for the quarter, compared to the consensus estimate of $16.10 billion. International Business Machines had a net margin of 12.09% and a return on equity of 37.76%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.30 earnings per share. International Business Machines has set its FY 2025 guidance at EPS. Analysts predict that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th will be given a dividend of $1.68 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.2%. International Business Machines’s payout ratio is presently 80.38%.

International Business Machines Company Profile

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.