The Vanguard Group, Inc. recently announced the acquisition of new stake in International Business Machines Corp. (NYSE:IBM). The institutional investor has increased its shareholding in the Technology company by 0.40% to 78.29 million shares with purchase of 0.31 million shares. This fresh investment now brings its stake to 8.57% valued currently at $12.8 billion. In addition, SSgA Funds Management, Inc. raised its holdings by 0.24 million to 54.68 million shares. And Geode Capital Management LLC has lifted its position by 5.15% or 0.86 million shares – to 17.56 million shares.
Currently, there are 913.12M common shares owned by the public and among those 912.46M shares have been available to trade.
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Insiders at the company have transacted a total of 76 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 37 of these insider trades were purchases, accounting for 305,790 shares. Insider sales of the common stock occurred on 39 occasions, with total insider shares sold totaling 185,103 shares.
The top 3 mutual fund holders in International Business Machines Corp. are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and SPDR S&P 500 ETF Trust. Vanguard Total Stock Market ETF owns 28.64 million shares of the company’s stock, all valued at over $4.68 billion. The company bought an additional 91290.0 shares recently to bring their total holdings to about 3.14% of the shares outstanding. Vanguard 500 Index Fund bought 92357.0 shares to see its total holdings expand to 22.3 million shares valued at over $3.65 billion and representing 2.44% of the shares outstanding. SPDR S&P 500 ETF Trust sold 61246.0 shares to bring its total holdings to over 11.16 million shares at a value of $1.83 billion. SPDR S&P 500 ETF Trust now owns shares totaling to 1.22% of the shares outstanding.
However, the script later moved the day high at 192.39, down -1.58%. The company’s stock has a 5-day price change of 9.30% and 36.72% over the past three months. IBM shares are trading 14.59% year to date (YTD), with the 12-month market performance up to 33.15% higher. It has a 12-month low price of $120.55 and touched a high of $196.90 over the same period. IBM has an average intraday trading volume of 4.74 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 12.72%, 15.98%, and 30.78% respectively.
Institutional ownership of International Business Machines Corp. (NYSE: IBM) shares accounts for 58.98% of the company’s 913.12M shares outstanding. Mutual fund holders own 28.78%, while other institutional holders and individual stakeholders account for 30.50% and 0.40% respectively.
It has a market capitalization of $171.14B and a beta (3y monthly) value of 0.72. The stock’s trailing 12-month PE ratio is 23.06, while the earnings-per-share (ttm) stands at $8.13. The company has a PEG of 8.24 and a Quick Ratio of 0.90 with the debt-to-equity ratio at 2.66. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.62% over the week and 1.53% over the month.
Analysts forecast that International Business Machines Corp. (IBM) will achieve an EPS of $1.46 for the current quarter, $2.13 for the next quarter and $9.72 for 2025. The lowest estimate earnings-per-share for the quarter is $1.33 while analysts give the company a high EPS estimate of $1.62. Comparatively, EPS for the current quarter was $1.36 a year ago. Earnings per share for the fiscal year are expected to increase by 5.25%, and 5.82% over the next financial year. EPS should grow at an annualized rate of 2.80% over the next five years, compared to -3.08% over the past 5-year period.
Looking at the support for the IBM, a number of firms have released research notes about the stock. Evercore ISI stated their Outperform rating for the stock in a research note on January 19, 2024, with the firm’s price target at $165-$200.
