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Cantor Fitzgerald Investment Advisors L.P. increased its holdings in shares of International Business Machines Corporation (NYSE:IBM – Free Report) by 93.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 80,802 shares of the technology company’s stock after purchasing an additional 38,962 shares during the period. Cantor Fitzgerald Investment Advisors L.P.’s holdings in International Business Machines were worth $17,771,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in shares of International Business Machines in the second quarter valued at approximately $21,586,659,000. State Street Corp increased its position in International Business Machines by 2.7% during the second quarter. State Street Corp now owns 56,045,055 shares of the technology company’s stock worth $15,760,430,000 after acquiring an additional 1,450,562 shares during the period. Bank of America Corp DE increased its position in International Business Machines by 7.0% during the first quarter. Bank of America Corp DE now owns 16,063,653 shares of the technology company’s stock worth $3,893,669,000 after acquiring an additional 1,049,602 shares during the period. Bank of New York Mellon Corp acquired a new position in International Business Machines during the 2nd quarter valued at $2,606,782,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in International Business Machines by 0.7% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,621,512 shares of the technology company’s stock valued at $2,143,245,000 after purchasing an additional 53,388 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance NYSE:IBM opened at $250.67 on Thursday. The company has a 50-day moving average of $232.36 and a 200-day moving average of $243.60. The company has a market capitalization of $236.16 billion, a price-to-earnings ratio of 22.24, a PEG ratio of 2.32 and a beta of 0.73. International Business Machines Corporation has a 52 week low of $199.19 and a 52 week high of $332.46. 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 (NYSE:IBM – Get Free Report) last posted its earnings results on Wednesday, October 21st. The technology company reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.10. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. The business had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $16.82 billion. During the same quarter in the previous year, the firm posted $2.65 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities research analysts anticipate that International Business Machines Corporation will post 12.34 earnings per share for the current fiscal year. Analysts Set New Price Targets Several analysts have issued reports on the stock. Craig Hallum began coverage on shares of International Business Machines in a research report on Wednesday, August 19th. They issued a “buy” rating on the stock. Citic Securities upped their price objective on shares of International Business Machines from $294.00 to $297.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Robert W. Baird assumed coverage on shares of International Business Machines in a research note on Tuesday, July 21st. They issued a “neutral” rating and a $230.00 target price for the company. Morgan Stanley lifted their target price on International Business Machines from $190.00 to $238.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 15th. Finally, Jefferies Financial Group lowered their price target on International Business Machines from $320.00 to $260.00 and set a “buy” rating on the stock in a research note on Tuesday, July 21st. Twenty analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $255.76.

Check Out Our Latest Research Report on IBM

Insiders Place Their Bets In other International Business Machines news, SVP Robert Thomas sold 25,000 shares of International Business Machines stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $230.32, for a total transaction of $5,758,000.00. Following the sale, the senior vice president directly owned 47,800 shares of the company’s stock, valued at approximately $11,009,296. The trade was a 34.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.27% of the company’s stock.

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

Positive Sentiment: Q3 results exceeded expectations: IBM reported adjusted earnings of $2.95 per share versus consensus estimates near $2.85-$2.88, while revenue rose approximately 5% year over year to $17.1 billion, ahead of the roughly $16.8 billion forecast. IBM beats on top and bottom lines Positive Sentiment: Software and infrastructure growth accelerated: Software revenue increased 8% to $7.8 billion and Infrastructure revenue rose 4% to $3.7 billion. Management said previously delayed infrastructure deals began closing, supporting the view that the prior-quarter slowdown was temporary. IBM raises annual software revenue outlook Positive Sentiment: Cash-flow outlook improved: IBM generated $3.0 billion in free cash flow during the quarter and expects full-year free cash flow to increase by more than $1 billion from the prior year. The company maintained its 4%-5% full-year constant-currency revenue-growth forecast. IBM third-quarter results Positive Sentiment: CEO Arvind Krishna highlighted momentum in enterprise AI and “Super Intelligence” initiatives, while IBM’s partnerships around open-source AI inference and its quantum-computing strategy add longer-term growth catalysts. Neutral Sentiment: IBM’s GAAP net income rose to $2.19 billion from $1.74 billion a year earlier, and the board declared a quarterly dividend of $1.69 per share. Negative Sentiment: Gross margin was narrower than expected, which could limit the benefit of revenue growth if elevated AI, infrastructure, or implementation costs persist. (Free Report)

International Business Machines Corporation (NYSE:IBM), commonly known as IBM, is a global technology and consulting company that helps organizations modernize their information technology and business operations. Its offerings include hybrid cloud solutions, artificial intelligence software and services, enterprise software, IT infrastructure, cybersecurity, data analytics, and technology consulting.

IBM provides products and services to businesses, governments, and other institutions across industries and regions worldwide.

Further Reading Five stocks we like better than International Business Machines GM Beat and Added a $20 Billion Buyback—Why Did the Stock Fall? Intercepting Growth: Karman Secures $218M Lockheed Martin Deal Tech Stocks Took a Hit—These 2 Pharma Stocks Are Near New Highs Chip Stocks Have Pulled Back—Here’s How 3 Semiconductor ETFs Stack Up for Investors

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Exceeded expectations with accelerated revenue growth led by Software and Infrastructure; Raises outlook for full-year free cash flow

, /PRNewswire/ -- IBM (NYSE: IBM) today announced third-quarter 2026 earnings results.

"Disciplined execution throughout the quarter drove accelerated revenue growth and strong free cash flow. Our clients are now deploying Super Intelligence in ways that transform entire operating models, instead of simply addressing narrow or novel problems. IBM's technology and expertise are helping organizations drive growth and serve customers with greater speed, precision and efficiency than ever before," said Arvind Krishna, IBM chairman, president and chief executive officer. "For the full year, we continue to expect constant currency revenue growth in the range of four-to-five percent, and we now expect free cash flow to increase by more than $1 billion year-over-year."

Third-Quarter Highlights

Revenue
- Revenue of $17.1 billion, up 5 percent, up 6 percent at constant currency
- Software revenue up 8 percent, up 9 percent at constant currency
- Consulting revenue flat, up 2 percent at constant currency
- Infrastructure revenue up 4 percent, up 5 percent at constant currency
Profit
- Gross Profit Margin: GAAP: 56.8 percent, down 50 basis points; Operating (Non-GAAP): 58.5 percent, down 20 basis points
- Pre-Tax Income Margin: GAAP: 14.6 percent, down 30 basis points; Operating (Non-GAAP): 19.3 percent, up 70 basis points
Cash Flow
- Year to date, net cash from operating activities of $11.8 billion; free cash flow of $7.8 billion

THIRD-QUARTER 2026 INCOME STATEMENT SUMMARY

 
Revenue

 
Gross

Profit

 
 
Gross

Profit

Margin

 
 
Pre-tax

Income

 
Pre-tax

Income

Margin

 
Net

Income

 
Diluted

Earnings

Per Share

GAAP from
Continuing
Operations

$ 17.1 B

 
 
$  9.7  B

 
 
56.8

%

 
$  2.5  B

 
 
14.6

%

 
$  2.2  B

 
 
$   2.31

 

Year/Year

5

% (1)

 
4

%

 
(0.5)

Pts

 
3

%

 
(0.3)

Pts

 
26

%

 
26

%

Operating

(Non-GAAP)

 
 
 
$ 10.0 B

 
 
58.5

%

 
$  3.3  B

 
 
19.3

%

 
$  2.8  B

 
 
$   2.95

 

Year/Year

 
 
 
4

%

 
(0.2)

Pts

 
9

%

 
0.7

Pts

 
12

%

 
11

%

(1)  6% at constant currency.

"Demand across our portfolio combined with strong operational execution led to accelerated growth and solid operating pre-tax margin expansion in the quarter," said James Kavanaugh, IBM senior vice president and chief financial officer. "Just as we are helping clients extract value from their operations with Super Intelligence, we are driving tangible returns through our productivity initiatives inside IBM. This approach fuels profit and free cash flow growth and enables us to continue to invest in our business while returning value to shareholders through our dividend."

Segment Results for Third Quarter

Software — revenues of $7.8 billion, up 8 percent, up 9 percent at constant currency
- Hybrid Cloud (Red Hat) up 11 percent
- Automation down 3 percent
- Data up 19 percent, up 20 percent at constant currency
- Transaction Processing up 9 percent, up 10 percent at constant currency
Consulting — revenues of $5.3 billion, flat, up 2 percent at constant currency
- Strategy and Technology up 2 percent, up 4 percent at constant currency
- Intelligent Operations down 2 percent, flat at constant currency
Infrastructure — revenues of $3.7 billion, up 4 percent, up 5 percent at constant currency
- Hybrid Infrastructure up 8 percent, up 9 percent at constant currency
      -- IBM Z down 20 percent, down 19 percent at constant currency
      -- Distributed Infrastructure up 31 percent, up 32 percent at constant currency
- Infrastructure Support down 3 percent, down 2 percent at constant currency
Financing — revenues of $0.2 billion, down 4 percent, down 3 percent at constant currency

Cash Flow and Balance Sheet

In the third quarter, the company generated net cash from operating activities of $4.0 billion, up $0.9 billion year to year. IBM's free cash flow was $3.0 billion, up $0.7 billion year to year. The company returned $1.6 billion to shareholders in dividends in the third quarter.

For the first nine months of the year, the company generated net cash from operating activities of $11.8 billion, up $2.6 billion year to year. IBM's free cash flow was $7.8 billion, up $0.6 billion year to year.

IBM ended the third quarter with $11.1 billion of cash, restricted cash and marketable securities, down $3.4 billion from year-end 2025. The company invested $11.4 billion in acquisitions this year. Debt, including IBM Financing debt of $12.7 billion, totaled $63.8 billion, up $2.6 billion year to date.

Full-Year 2026 Expectations

Revenue: The company continues to expect full-year constant currency revenue growth in the range of four-to-five percent. At current foreign exchange rates, currency is expected to be neutral to growth for the year
Free cash flow: The company now expects full-year free cash flow to increase by more than $1 billion year-over-year

Dividend Declaration

The IBM board of directors approved a regular quarterly cash dividend of $1.69 per common share, to stockholders of record on November 10, 2026. With payment of the December 10, 2026 dividend, IBM will have paid consecutive quarterly dividends every year since 1916.

Forward-Looking and Cautionary Statements

Except for the historical information and discussions contained herein, statements contained in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on the company's current assumptions regarding future business and financial performance. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including, but not limited to, the following: a downturn in economic environment and client spending budgets; a failure of the company's innovation initiatives; damage to the company's reputation; risks from investing in growth opportunities; failure of the company's intellectual property portfolio to prevent competitive offerings and the failure of the company to obtain necessary licenses; the company's ability to successfully manage acquisitions, alliances and divestitures, including integration challenges, failure to achieve objectives, the assumption or retention of liabilities and higher debt levels; fluctuations in financial results; impact of local legal, economic, political, health and other conditions; the company's failure to meet growth and productivity objectives; ineffective internal controls; the company's use of accounting estimates; impairment of the company's goodwill or amortizable intangible assets; the company's ability to attract and retain key employees and its reliance on critical skills; impacts of relationships with critical suppliers; product and service quality issues; the development and use of AI, including the company's increased AI solutions and use of AI technologies; impacts of business with government clients; reliance on third party distribution channels and ecosystems; cybersecurity and data protection considerations; adverse effects related to climate change and other environmental matters; tax matters; legal proceedings and investigatory risks; the company's pension plans; currency fluctuations and customer financing risks; impact of changes in market liquidity conditions and customer credit risk on receivables; risk factors related to IBM securities; and other risks, uncertainties and factors discussed in the company's Form 10-Qs, Form 10-K and in the company's other filings with the U.S. Securities and Exchange Commission or in materials incorporated therein by reference.

Any forward-looking statement in this release speaks only as of the date on which it is made. Except as required by law, the company assumes no obligation to update or revise any forward-looking statements.

Presentation of Information in this Press Release

In an effort to provide investors with additional information regarding the company's results as determined by generally accepted accounting principles (GAAP), the company has also disclosed in this press release the following non-GAAP information, which management believes provides useful information to investors:

adjusting for currency (i.e., at constant currency);
presenting operating (non-GAAP) earnings per share amounts and related income statement items;
free cash flow;
net cash from operating activities excluding IBM Financing receivables;
adjusted EBITDA;
adjusted EBITDA margin.

The rationale for management's use of these non-GAAP measures is included in Exhibit 99.2 in the Form 8-K that includes this press release and is being submitted today to the SEC.

Conference Call and Webcast

IBM's regular quarterly earnings conference call is scheduled to begin at 5:00 p.m. ET, today. The Webcast may be accessed via a link at https://www.ibm.com/investor/events/earnings-3q26. Presentation charts will be available shortly before the Webcast.

Financial Results Below (certain amounts may not add due to use of rounded numbers; percentages presented are calculated from the underlying whole-dollar amounts).

Contact:      IBM
                    Tim Davidson, 914-844-7847
                    [email protected]

                    Erin McElwee, 347-920-6825
                    [email protected]

INTERNATIONAL BUSINESS MACHINES CORPORATION

COMPARATIVE FINANCIAL RESULTS

(Unaudited; $ in millions except per share amounts)

 

 
Three Months Ended
September 30,

 
 
Nine Months Ended
September 30,

 

 
2026

 
 
2025

 
 
2026

 
 
2025

 

REVENUE BY SEGMENT

 
 
 
 
 
 
 
 
 
 
 

Software

$        7,804

 
 
$        7,209

 
 
$       22,617

 
 
$       20,932

 

Consulting

5,335

 
 
5,324

 
 
15,934

 
 
15,706

 

Infrastructure

3,707

 
 
3,559

 
 
10,868

 
 
10,586

 

Financing

192

 
 
200

 
 
598

 
 
557

 

Other

66

 
 
38

 
 
165

 
 
68

 

TOTAL REVENUE

17,103

 
 
16,331

 
 
50,182

 
 
47,849

 

 
 
 
 
 
 
 
 
 
 
 
 

GROSS PROFIT

9,714

 
 
9,360

 
 
28,571

 
 
27,369

 

 
 
 
 
 
 
 
 
 
 
 
 

GROSS PROFIT MARGIN

 
 
 
 
 
 
 
 
 
 
 

Software

82.5

%

 
83.1

%

 
82.6

%

 
83.5

%

Consulting

27.4

%

 
29.3

%

 
27.9

%

 
28.0

%

Infrastructure

56.7

%

 
57.2

%

 
57.4

%

 
57.7

%

Financing

40.7

%

 
45.6

%

 
42.2

%

 
45.7

%

 
 
 
 
 
 
 
 
 
 
 
 

TOTAL GROSS PROFIT MARGIN

56.8

%

 
57.3

%

 
56.9

%

 
57.2

%

 
 
 
 
 
 
 
 
 
 
 
 

EXPENSE AND OTHER INCOME

 
 
 
 
 
 
 
 
 
 
 

SG&A

4,620

 
 
4,748

 
 
14,691

 
 
14,661

 

R&D

2,378

 
 
2,082

 
 
6,863

 
 
6,129

 

Intellectual property and custom development income

(164)

 
 
(219)

 
 
(501)

 
 
(687)

 

Other (income) and expense

(109)

 
 
(173)

 
 
(296)

 
 
(376)

 

Interest expense

491

 
 
492

 
 
1,451

 
 
1,457

 

TOTAL EXPENSE AND OTHER INCOME

7,217

 
 
6,931

 
 
22,208

 
 
21,184

 

 
 
 
 
 
 
 
 
 
 
 
 

INCOME FROM CONTINUING OPERATIONS

BEFORE INCOME TAXES

2,497

 
 
2,430

 
 
6,363

 
 
6,185

 

Pre-tax income margin

14.6

%

 
14.9

%

 
12.7

%

 
12.9

%

Provision for/(benefit from) income taxes

298

 
 
686

 
 
782

 
 
1,193

 

Effective tax rate

11.9

%

 
28.2

%

 
12.3

%

 
19.3

%

 
 
 
 
 
 
 
 
 
 
 
 

INCOME FROM CONTINUING OPERATIONS

$        2,199

 
 
$        1,744

 
 
$         5,581

 
 
$         4,992

 

 
 
 
 
 
 
 
 
 
 
 
 

DISCONTINUED OPERATIONS

 
 
 
 
 
 
 
 
 
 
 

Income from discontinued operations, net of taxes

(10)

 
 
0

 
 
(10)

 
 
1

 

 
 
 
 
 
 
 
 
 
 
 
 

NET INCOME

$        2,190

 
 
$        1,744

 
 
$         5,571

 
 
$         4,993

 

 
 
 
 
 
 
 
 
 
 
 
 

EARNINGS PER SHARE OF COMMON STOCK

 
 
 
 
 
 
 
 
 
 
 

Assuming dilution

 
 
 
 
 
 
 
 
 
 
 

Continuing operations

$          2.31

 
 
$          1.84

 
 
$           5.86

 
 
$           5.27

 

Discontinued operations

$         (0.01)

 
 
$          0.00

 
 
$          (0.01)

 
 
$           0.00

 

TOTAL

$          2.30

 
 
$          1.84

 
 
$           5.85

 
 
$           5.27

 

 
 
 
 
 
 
 
 
 
 
 
 

Basic

 
 
 
 
 
 
 
 
 
 
 

Continuing operations

$          2.33

 
 
$          1.87

 
 
$           5.93

 
 
$           5.36

 

Discontinued operations

$         (0.01)

 
 
$          0.00

 
 
$          (0.01)

 
 
$           0.00

 

TOTAL

$          2.32

 
 
$          1.87

 
 
$           5.92

 
 
$           5.36

 

 
 
 
 
 
 
 
 
 
 
 
 

WEIGHTED-AVERAGE NUMBER OF COMMON SHARES

OUTSTANDING (M's)

 
 
 
 
 
 
 
 
 
 
 

Assuming dilution

953.5

 
 
948.9

 
 
953.0

 
 
947.4

 

Basic

944.4

 
 
933.9

 
 
941.4

 
 
930.9

 

INTERNATIONAL BUSINESS MACHINES CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEET

(Unaudited)

 

($ in millions)

 
At September 30,
2026

 
At December 31,
2025

ASSETS:

 
 
 
 

Current assets:

 
 
 
 

Cash and cash equivalents

 
$                 9,233

 
$              13,587

Restricted cash

 
48

 
54

Marketable securities

 
1,825

 
830

Notes and accounts receivable - trade, net

 
5,794

 
8,112

Short-term financing receivables

 
 
 
 

  Held for investment, net

 
5,638

 
7,344

  Held for sale

 
774

 
1,131

Other accounts receivable, net

 
1,673

 
1,052

Inventories

 
1,945

 
1,220

Deferred costs

 
1,177

 
1,084

Prepaid expenses and other current assets

 
3,083

 
2,530

Total current assets

 
31,192

 
36,944

 
 
 
 
 

Property, plant and equipment, net

 
6,043

 
5,899

Operating right-of-use assets, net

 
3,114

 
3,129

Long-term financing receivables, net

 
6,844

 
7,708

Prepaid pension assets

 
7,715

 
7,544

Deferred costs

 
808

 
825

Deferred taxes

 
8,827

 
8,610

Goodwill

 
74,916

 
67,717

Intangibles, net

 
13,603

 
11,391

Investments and sundry assets

 
1,950

 
2,112

Total assets

 
$             155,011

 
$            151,880

 
 
 
 
 

LIABILITIES:

 
 
 
 

Current Liabilities:

 
 
 
 

Taxes

 
$                 1,867

 
$                2,347

Short-term debt

 
7,013

 
6,424

Accounts payable

 
4,491

 
4,756

Compensation and benefits

 
3,668

 
4,114

Deferred income

 
15,164

 
16,101

Operating lease liabilities

 
749

 
800

Other liabilities

 
3,534

 
4,116

Total current liabilities

 
36,485

 
38,658

 
 
 
 
 

Long-term debt

 
56,804

 
54,836

Retirement-related obligations

 
8,452

 
9,018

Deferred income

 
4,318

 
4,271

Operating lease liabilities

 
2,574

 
2,547

Other liabilities

 
10,172

 
9,810

Total liabilities

 
118,805

 
119,139

 
 
 
 
 

EQUITY:

 
 
 
 

IBM stockholders' equity:

 
 
 
 

Common stock

 
65,137

 
63,318

Retained earnings

 
156,576

 
155,648

Treasury stock - at cost

 
(171,191)

 
(170,605)

Accumulated other comprehensive income/(loss)

 
(14,985)

 
(15,713)

Total IBM stockholders' equity

 
35,537

 
32,648

 
 
 
 
 

Noncontrolling interests

 
669

 
93

Total equity

 
36,206

 
32,740

 
 
 
 
 

Total liabilities and equity

 
$             155,011

 
$            151,880

INTERNATIONAL BUSINESS MACHINES CORPORATION

STATEMENT OF CASH FLOWS

(Unaudited)

 

 
 
Three Months Ended
September 30,

 
Nine Months Ended
September 30,

($ in millions)

 
2026

 
2025 (1)

 
2026

 
2025 (1)

Cash flows from operating activities:

 
 
 
 
 
 
 
 

Net income

 
$     2,190

 
$     1,744

 
$     5,571

 
$     4,993

Adjustments to reconcile net income to cash provided by operating

activities:

 
 
 
 
 
 
 
 

Depreciation (2)

 
550

 
583

 
1,638

 
1,698

Amortization of capitalized software and acquired intangible assets

 
828

 
699

 
2,363

 
2,027

Stock-based compensation

 
535

 
444

 
1,539

 
1,285

Net (gain)/loss on divestitures, asset sales and other

 
(47)

 
(6)

 
(124)

 
(46)

Changes in operating assets and liabilities, net of

acquisitions/divestitures

 
(31)

 
(383)

 
804

 
(804)

Net cash provided by operating activities

 
4,025

 
3,081

 
11,791

 
9,153

 
 
 
 
 
 
 
 
 

Cash flows from investing activities:

 
 
 
 
 
 
 
 

Payments for property, plant and equipment

 
(332)

 
(255)

 
(793)

 
(709)

Proceeds from disposition of property, plant and equipment/other

 
29

 
7

 
60

 
118

Investment in software

 
(154)

 
(162)

 
(467)

 
(476)

Purchases of marketable securities and other investments

 
(1,898)

 
(1,169)

 
(4,769)

 
(8,910)

Proceeds from disposition of marketable securities and other

investments

 
640

 
1,199

 
3,763

 
6,162

Acquisition of businesses, net of cash acquired

 
(884)

 
(58)

 
(11,364)

 
(7,903)

Divestiture of businesses, net of cash transferred

 
28

 
-

 
30

 
(1)

Net cash provided by/(used in) investing activities

 
(2,570)

 
(437)

 
(13,539)

 
(11,719)

 
 
 
 
 
 
 
 
 

Cash flows from financing activities:

 
 
 
 
 
 
 
 

Proceeds from new debt

 
1,978

 
6

 
9,415

 
8,391

Payments to settle debt

 
(120)

 
(1,114)

 
(7,261)

 
(3,679)

Short-term borrowings/(repayments) less than 90 days - net

 
2

 
0

 
3

 
(29)

Common stock repurchases for tax withholdings

 
(352)

 
(414)

 
(817)

 
(851)

Proceeds from issuance of shares

 
143

 
134

 
562

 
535

Noncontrolling interest transactions (3)

 
575

 
-

 
557

 
(15)

Financing - other (3)

 
(24)

 
(54)

 
(98)

 
(93)

Cash dividends paid

 
(1,596)

 
(1,569)

 
(4,762)

 
(4,681)

Net cash provided by/(used in) financing activities

 
607

 
(3,012)

 
(2,402)

 
(423)

 
 
 
 
 
 
 
 
 

Effect of exchange rate changes on cash, cash equivalents and restricted

cash

 
3

 
(59)

 
(209)

 
429

Net change in cash, cash equivalents and restricted cash

 
2,064

 
(426)

 
(4,359)

 
(2,561)

 
 
 
 
 
 
 
 
 

Cash, cash equivalents and restricted cash at the beginning of the period

 
7,217

 
12,026

 
13,640

 
14,160

Cash, cash equivalents and restricted cash at the end of the period

 
$     9,282

 
$   11,600

 
$     9,282

 
$   11,600

____________________

(1) Reclassified to align with the Consolidated Statement of Cash Flows presentation.

(2) Includes operating lease right-of-use assets amortization.

(3) Prior-year amounts have been reclassified to conform to the change in 2026 presentation.

INTERNATIONAL BUSINESS MACHINES CORPORATION

GAAP NET INCOME TO ADJUSTED EBITDA RECONCILIATION

(Unaudited)

 

 
 
Three Months Ended

September 30,

 
Nine Months Ended

September 30,

($ in billions)

 
2026

2025

Yr/Yr

 
2026

2025

Yr/Yr

Net income as reported (GAAP)

 
$   2.2

$   1.7

$  0.4

 
$   5.6

$   5.0

$  0.6

Less: income from discontinued operations, net of tax

 
0.0

0.0

0.0

 
0.0

0.0

0.0

Income from continuing operations

 
2.2

1.7

0.5

 
5.6

5.0

0.6

Provision for/(benefit from) income taxes from continuing ops.

 
0.3

0.7

(0.4)

 
0.8

1.2

(0.4)

Pre-tax income from continuing operations (GAAP)

 
2.5

2.4

0.1

 
6.4

6.2

0.2

Non-operating adjustments (before tax)

 
 
 
 
 
 
 
 

Acquisition-related charges (1)

 
0.7

0.6

0.1

 
2.1

1.7

0.3

Non-operating retirement-related costs/(income)

 
0.1

0.0

0.1

 
0.3

0.1

0.2

 
 
 
 
 
 
 
 
 

Operating (non-GAAP) pre-tax income from continuing ops.

 
3.3

3.0

0.3

 
8.7

8.0

0.7

 
 
 
 
 
 
 
 
 

Net interest expense

 
0.4

0.3

0.1

 
1.1

0.9

0.2

Depreciation/amortization of non-acquired intangible assets

 
0.7

0.7

0.0

 
2.1

2.1

0.0

Stock-based compensation

 
0.5

0.4

0.1

 
1.5

1.3

0.3

Workforce rebalancing charges

 
0.0

0.0

0.0

 
0.4

0.4

0.0

Corporate (gains) and charges (2)

 
0.0

0.0

0.0

 
(0.2)

0.0

(0.2)

 
 
 
 
 
 
 
 
 

Adjusted EBITDA

 
$   4.9

$   4.6

$  0.3

 
$ 13.7

$ 12.7

$  1.0

 
 
 
 
 
 
 
 
 

Revenue

 
$ 17.1

$ 16.3

5 %

 
$ 50.2

$ 47.8

5 %

GAAP net income margin

 
12.8 %

10.7 %

2.1pts

 
11.1 %

10.4 %

0.7pts

Adjusted EBITDA margin

 
28.7 %

28.0 %

0.6pts

 
27.2 %

26.5 %

0.8pts

____________________

(1) Primarily consists of amortization of acquired intangible assets.

(2) Primarily consists of unique corporate actions such as gains on divestitures and asset sales.

INTERNATIONAL BUSINESS MACHINES CORPORATION

SEGMENT DATA

(Unaudited)

 

 
 
Three Months Ended September 30, 2026

 

 
 
 
 
 
 
 
 
 
 
 
 
 

($ in millions)

 
Software

 
 
Consulting

 
 
Infrastructure

 
 
Financing

 

Revenue

 
$         7,804

 
 
$         5,335

 
 
$            3,707

 
 
$           192

 

Segment profit

 
$         2,734

 
 
$            653

 
 
$               715

 
 
$           108

 

Segment profit margin

 
35.0

%

 
12.2

%

 
19.3

%

 
56.1

%

Change YTY revenue

 
8.2

%

 
0.2

%

 
4.2

%

 
(3.9)

%

Change YTY revenue - constant currency

 
8.7

%

 
1.8

%

 
4.9

%

 
(3.3)

%

 

 
 
Three Months Ended September 30, 2025

 

 
 
 
 
 
 
 
 
 
 
 
 
 

($ in millions)

 
 Software

 
 
Consulting

 
 
Infrastructure

 
 
Financing

 

Revenue

 
$         7,209

 
 
$         5,324

 
 
$            3,559

 
 
$           200

 

Segment profit

 
$         2,374

 
 
$            686

 
 
$               644

 
 
$           123

 

Segment profit margin

 
32.9

%

 
12.9

%

 
18.1

%

 
61.6

%

 

 
 
Nine Months Ended September 30, 2026

 

 
 
 
 
 
 
 
 
 
 
 
 
 

($ in millions)

 
Software

 
 
Consulting

 
 
Infrastructure

 
 
Financing

 

Revenue

 
$        22,617

 
 
$        15,934

 
 
$          10,868

 
 
$           598

 

Segment Profit

 
$          7,335

 
 
$          1,858

 
 
$            2,074

 
 
$           334

 

Segment Profit Margin

 
32.4

%

 
11.7

%

 
19.1

%

 
55.9

%

Change YTY Revenue

 
8.1

%

 
1.5

%

 
2.7

%

 
7.3

%

Change YTY Revenue - Constant Currency

 
7.0

%

 
1.2

%

 
1.9

%

 
5.7

%

 

 
 
Nine Months Ended September 30, 2025

 

 
 
 
 
 
 
 
 
 
 
 
 
 

($ in millions)

 
 Software

 
 
Consulting

 
 
Infrastructure

 
 
Financing

 

Revenue

 
$        20,932

 
 
$        15,706

 
 
$          10,586

 
 
$           557

 

Segment Profit

 
$          6,517

 
 
$          1,807

 
 
$            1,857

 
 
$           371

 

Segment Profit Margin

 
31.1

%

 
11.5

%

 
17.5

%

 
66.5

%

INTERNATIONAL BUSINESS MACHINES CORPORATION

U.S. GAAP TO OPERATING (Non-GAAP) RESULTS RECONCILIATION

(Unaudited; $ in millions except per share amounts)

 

 
Three Months Ended September 30, 2026

 

 
Continuing Operations

 

 
GAAP

 
 
Acquisition-

Related

Adjustments (1)

 
 
Retirement-

Related

Adjustments (2)

 
 
Tax

Reform

Impacts

 
 
Operating

(Non-

GAAP)

 

Gross profit

$  9,714

 
 
$                   289

 
 
$                     —

 
 
$         —

 
 
$       10,004

 

Gross profit margin

56.8

%

 
1.7

pts

 
—

pts

 
—

pts

 
58.5

%

SG&A

$  4,620

 
 
$                 (428)

 
 
$                     —

 
 
$         —

 
 
$         4,193

 

Other (income) & expense

(109)

 
 
0

 
 
(91)

 
 
—

 
 
(200)

 

Total expense & other (income)

7,217

 
 
(418)

 
 
(91)

 
 
—

 
 
6,708

 

Pre-tax income from continuing operations

2,497

 
 
707

 
 
91

 
 
—

 
 
3,295

 

Pre-tax margin from continuing operations

14.6

%

 
4.1

pts

 
0.5

pts

 
—

pts

 
19.3

%

Provision for/(benefit from) income taxes (3)

$     298

 
 
$                  166

 
 
$                    20

 
 
—

 
 
$            483

 

Effective tax rate

11.9

%

 
2.5

pts

 
0.3

pts

 
—

pts

 
14.7

%

Income from continuing operations

$  2,199

 
 
$                  542

 
 
$                    71

 
 
$         —

 
 
$         2,812

 

Income margin from continuing operations

12.9

%

 
3.2

pts

 
0.4

pts

 
—

pts

 
16.4

%

Diluted earnings per share: continuing

operations

$    2.31

 
 
$                 0.57

 
 
$                 0.07

 
 
$         —

 
 
$           2.95

 

 

 
Three Months Ended September 30, 2025

 

 
Continuing Operations

 

 
GAAP

 
 
Acquisition-

Related

Adjustments (1)

 
 
Retirement-

Related

Adjustments (2)

 
 
Tax

Reform

Impacts

 
 
Operating

(Non-

GAAP)

 

Gross profit

$  9,360

 
 
$                   231

 
 
$                     —

 
 
$         —

 
 
$         9,591

 

Gross profit margin

57.3

%

 
1.4

pts

 
—

pts

 
—

pts

 
58.7

%

SG&A

$  4,748

 
 
$                 (354)

 
 
$                     —

 
 
$         —

 
 
$         4,394

 

Other (income) & expense

(173)

 
 
(6)

 
 
(13)

 
 
—

 
 
(191)

 

Total expense & other (income)

6,931

 
 
(359)

 
 
(13)

 
 
—

 
 
6,559

 

Pre-tax income from continuing operations

2,430

 
 
590

 
 
13

 
 
—

 
 
3,033

 

Pre-tax margin from continuing operations

14.9

%

 
3.6

pts

 
0.1

pts

 
—

pts

 
18.6

%

Provision for/(benefit from) income taxes (3)

$     686

 
 
$                   136

 
 
$                       3

 
 
$      (309)

 
 
$            516

 

Effective tax rate

28.2

%

 
(1.0)

pts

 
0.0

pts

 
(10.2)

pts

 
17.0

%

Income from continuing operations

$  1,744

 
 
$                   454

 
 
$                     10

 
 
$       309

 
 
$         2,517

 

Income margin from continuing operations

10.7

%

 
2.8

pts

 
0.1

pts

 
1.9

pts

 
15.4

%

Diluted earnings per share: continuing

operations

$    1.84

 
 
$                  0.48

 
 
$                  0.01

 
 
$      0.33

 
 
$           2.65

 

____________________

(1) Includes amortization of acquired intangible assets and acquisition-related charges such as in-process research and development, transaction

     costs, applicable retention, restructuring and related expenses, tax charges related to acquisition integration, and pre-closing charges, such as

     financing costs.

(2) Includes amortization of prior service costs, interest cost, expected return on plan assets, amortized actuarial gains/losses, the impacts of any plan

     curtailments/settlements and pension insolvency costs and other costs.

(3) The tax impact on operating (non-GAAP) pre-tax income from continuing operations is calculated under the same accounting principles applied to

      the GAAP pre-tax income.

INTERNATIONAL BUSINESS MACHINES CORPORATION

U.S. GAAP TO OPERATING (Non-GAAP) RESULTS RECONCILIATION

(Unaudited; $ in millions except per share amounts)

 

 
Nine Months Ended September 30, 2026

 

 
Continuing Operations

 

 
GAAP

 
 
Acquisition-

Related

Adjustments (1)

 
 
Retirement-

Related

Adjustments (2)

 
 
Tax

Reform

Impacts

 
 
Operating

(Non-

GAAP)

 

Gross Profit

$ 28,571

 
 
$                   813

 
 
$                     —

 
 
$        —

 
 
$    29,384

 

Gross Profit Margin

56.9

%

 
1.6

pts

 
—

pts

 
—

pts

 
58.6

%

SG&A

$ 14,691

 
 
$              (1,257)

 
 
$                     —

 
 
$        —

 
 
$    13,435

 

Other (Income) & Expense

(296)

 
 
1

 
 
(283)

 
 
—

 
 
(578)

 

Total Expense & Other (Income)

22,208

 
 
(1,256)

 
 
(283)

 
 
—

 
 
20,669

 

Pre-tax Income from Continuing Operations

6,363

 
 
2,069

 
 
283

 
 
—

 
 
8,715

 

Pre-tax Margin from Continuing Operations

12.7

%

 
4.1

pts

 
0.6

pts

 
—

pts

 
17.4

%

Provision for/(Benefit from) Income Taxes (3)

$      782

 
 
$                  470

 
 
$                    43

 
 
$         (6)

 
 
$      1,290

 

Effective Tax Rate

12.3

%

 
2.5

pts

 
0.1

pts

 
(0.1)

pts

 
14.8

%

Income from Continuing Operations

$   5,581

 
 
$               1,598

 
 
$                  240

 
 
$          6

 
 
$      7,425

 

Income Margin from Continuing Operations

11.1

%

 
3.2

pts

 
0.5

pts

 
0.0

pts

 
14.8

%

Diluted Earnings Per Share: Continuing

Operations

$     5.86

 
 
$                 1.68

 
 
$                 0.25

 
 
$     0.01

 
 
$        7.79

 

 

 
Nine Months Ended September 30, 2025

 

 
Continuing Operations

 

 
GAAP

 
 
Acquisition-

Related

Adjustments (1)

 
 
Retirement-

Related

Adjustments (2)

 
 
Tax

Reform

Impacts

 
 
Operating

(Non-

GAAP)

 

Gross Profit

$ 27,369

 
 
$                   657

 
 
$                     —

 
 
$        —

 
 
$    28,025

 

Gross Profit Margin

57.2

%

 
1.4

pts

 
—

pts

 
—

pts

 
58.6

%

SG&A

$ 14,661

 
 
$              (1,055)

 
 
$                     —

 
 
$        —

 
 
$    13,606

 

Other (Income) & Expense

(376)

 
 
(7)

 
 
(61)

 
 
—

 
 
(444)

 

Total Expense & Other (Income)

21,184

 
 
(1,066)

 
 
(61)

 
 
—

 
 
20,058

 

Pre-tax Income from Continuing Operations

6,185

 
 
1,723

 
 
61

 
 
—

 
 
7,968

 

Pre-tax Margin from Continuing Operations

12.9

%

 
3.6

pts

 
0.1

pts

 
—

pts

 
16.7

%

Provision for/(Benefit from) Income Taxes (3)

$   1,193

 
 
$                  396

 
 
$                      0

 
 
$     (307)

 
 
$      1,282

 

Effective Tax Rate

19.3

%

 
0.8

pts

 
(0.2)

pts

 
(3.9)

pts

 
16.1

%

Income from Continuing Operations

$   4,992

 
 
$               1,326

 
 
$                    61

 
 
$      307

 
 
$      6,686

 

Income Margin from Continuing Operations

10.4

%

 
2.8

pts

 
0.1

pts

 
0.6

pts

 
14.0

%

Diluted Earnings Per Share: Continuing

Operations

$     5.27

 
 
$                 1.40

 
 
$                 0.06

 
 
$     0.32

 
 
$        7.06

 

____________________

(1) Includes amortization of acquired intangible assets, and acquisition-related charges such as in-process research and development, transaction 

     costs, applicable retention, restructuring and related expenses, tax charges related to acquisition integration, and pre-closing charges, such as

     financing costs.

(2) Includes amortization of prior service costs, interest cost, expected return on plan assets, amortized actuarial gains/losses, the impacts of any plan

     curtailments/settlements and pension insolvency costs and other costs.

(3) The tax impact on operating (non-GAAP) pre-tax income from continuing operations is calculated under the same accounting principles applied to

      the GAAP pre-tax income.

INTERNATIONAL BUSINESS MACHINES CORPORATION

GAAP OPERATING CASH FLOW TO FREE CASH FLOW RECONCILIATION

(Unaudited)

 

 
 
Three Months Ended
September 30,

 
Nine Months Ended
September 30,

($ in millions)

 
2026

 
2025

 
2026

 
2025

Net cash provided by operating activities per GAAP

 
$     4,025

 
$     3,081

 
$   11,791

 
$     9,153

 
 
 
 
 
 
 
 
 

Less: change in IBM Financing receivables

 
541

 
298

 
2,805

 
905

 
 
 
 
 
 
 
 
 

Net cash from operating activities excl. IBM Financing receivables

 
3,484

 
2,783

 
8,986

 
8,248

 
 
 
 
 
 
 
 
 

Capital expenditures, net

 
(457)

 
(410)

 
(1,200)

 
(1,067)

 
 
 
 
 
 
 
 
 

Free cash flow

 
$     3,027

 
$     2,373

 
$     7,787

 
$     7,181

INTERNATIONAL BUSINESS MACHINES CORPORATION

GAAP OPERATING CASH FLOW TO ADJUSTED EBITDA RECONCILIATION

(Unaudited)

 

 
 
Three Months Ended
September 30,

 
Nine Months Ended
September 30,

($ in billions)

 
2026

 
2025

 
2026

 
2025

Net cash provided by operating activities

 
$   4.0

 
$   3.1

 
$ 11.8

 
$   9.2

 
 
 
 
 
 
 
 
 

Add:

 
 
 
 
 
 
 
 

Net interest expense

 
0.4

 
0.3

 
1.1

 
0.9

Provision for/(benefit from) income taxes from continuing operations

 
0.3

 
0.7

 
0.8

 
1.2

 
 
 
 
 
 
 
 
 

Less change in:

 
 
 
 
 
 
 
 

Financing receivables

 
0.5

 
0.3

 
2.8

 
0.9

Net (gain)/loss on divestitures, assets sales and other (1)

 
0.0

 
0.0

 
(0.1)

 
0.0

Other assets and liabilities/other, net (1,2)

 
(0.7)

 
(0.8)

 
(2.6)

 
(2.2)

 
 
 
 
 
 
 
 
 

Adjusted EBITDA

 
$   4.9

 
$   4.6

 
$ 13.7

 
$ 12.7

 
 
 
 
 
 
 
 
 

Revenue

 
$ 17.1

 
$ 16.3

 
$ 50.2

 
$ 47.8

Net cash provided by operating activities margin

 
23.5 %

 
18.9 %

 
23.5 %

 
19.1 %

Adjusted EBITDA margin

 
28.7 %

 
28.0 %

 
27.2 %

 
26.5 %

____________________

(1) Reclassified to align with the presentation of similar line items in the Statement of Cash Flows.

(2) Mainly consists of Changes in operating assets and liabilities, net of acquisitions/divestitures in the Statement of Cash Flows chart,

      workforce rebalancing charges, non-operating impacts, and corporate (gains) and charges, less the change in Financing receivables.

SOURCE IBM

Strategic investment backs Leena AI's AI Colleague platform as enterprises move from AI assistants to autonomous AI agents for HR, IT and Finance operations

, /PRNewswire/ -- Leena AI, the enterprise agentic AI company, today announced a strategic investment from IBM Ventures, the venture capital arm of IBM (NYSE: IBM). The investment will support Leena AI's growth as enterprise demand rises for AI agents that run back-office processes end to end rather than simply answer questions.

Leena AI's AI Colleague platform deploys autonomous AI agents that resolve employee requests, execute multi-step workflows and act across the systems large enterprises already run in HR, IT and Finance, including SAP, Workday, Salesforce, Oracle and ServiceNow. Named a Leader in the Gartner® Magic Quadrant™ for three consecutive years, Leena AI today automates more than 500 global enterprises.

"Enterprises are done experimenting with AI that talks. They want AI that does: agents that own a process, do the job and close the loop inside the systems they already own," said Adit Jain, Co-founder and CEO of Leena AI. "IBM has spent decades earning the trust of the world's largest organizations. Backing from IBM Ventures is a strong signal that agentic AI for the back office is ready for that scale, and we are proud to build toward it with IBM."

IBM Ventures invests in early- and growth-stage companies building the next generation of enterprise technology across AI, security and quantum computing, with a focus on companies whose capabilities complement IBM's portfolio and serve the needs of IBM's global enterprise clients.

"What stood out with Leena AI is its focus on the back office, where agentic AI meets real operational complexity across HR, IT and Finance," said Emily Fontaine, Global Head of IBM Ventures. "Leena AI's approach complements IBM's work in AI orchestration and governance, and we look forward to supporting the team as it scales."

The investment joins Leena AI's existing backers, including Greycroft and Bessemer Venture Partners.

About Leena AI

Leena AI is an enterprise agentic AI company headquartered in New York. Its AI Colleague platform deploys autonomous AI agents that automate business processes across HR, IT and Finance, integrating with the enterprise systems companies already run. Leena AI serves more than 500 enterprises globally. Learn more at leena.ai.

Media contact

Leena AI: Yacob Girma, VP, Strategy, [email protected]

SOURCE Leena AI

Key Takeaways IBM acquires Logiq Consulting to strengthen cybersecurity and sovereign technology capabilities in the U.K.Logiq's Secure by Design expertise and DISX platform expand IBM's offerings for government clients.The buyout could support IBM Consulting's growth amid increasing demand for secure digital transformation.
International Business Machines Corporation (IBM - Free Report) has acquired Logiq Consulting, a U.K.-based cybersecurity consultancy, to strengthen its secure digital transformation capabilities and expand its presence across highly regulated industries. The acquisition reinforces IBM's strategy of expanding its cybersecurity portfolio while capitalizing on the growing demand for secure hybrid cloud and artificial intelligence (AI) solutions.

Logiq Consulting specializes in cybersecurity assurance, secure systems engineering, digital transformation and managed security services. Its expertise spans the U.K. defense industry, critical national infrastructure and the broader public sector. Financial terms of the transaction were not disclosed.

The acquisition is expected to strengthen IBM Consulting's ability to deliver secure technology solutions to organizations facing increasingly complex cybersecurity threats and regulatory requirements.

How Will Logiq Consulting Strengthen IBM's Portfolio?Logiq Consulting brings specialized Secure by Design capabilities, allowing organizations to integrate cybersecurity throughout the technology lifecycle rather than addressing vulnerabilities after deployment. These capabilities complement IBM's existing cybersecurity transformation services and SiXworks' digital transformation expertise in defense and public-sector markets.

In addition, Logiq's DISX managed sovereign collaboration platform enables government suppliers to exchange sensitive information securely with UK government and defense organizations while maintaining control over data management.

Integrating these capabilities with IBM's hybrid cloud, AI and consulting expertise could create opportunities for cross-selling services and expanding relationships with security-conscious customers. The buyout also boosts IBM's digital sovereignty offerings as governments and regulated enterprises increasingly prioritize data control, regulatory compliance and operational resilience.

Acquisition Could Support IBM Consulting's GrowthLogiq Consulting's addition comes as IBM seeks to strengthen its consulting business.  IBM Consulting generated second-quarter 2026 revenues of $5.3 billion, essentially flat year over year, although revenues increased 1.1% at constant currency.

Despite subdued revenue growth, Consulting segment profit increased 15.1% year over year to $647 million, reflecting improving profitability. The acquisition could help IBM capture additional opportunities in cybersecurity, application modernization and secure AI adoption, particularly among government and defense customers.

However, intense competition in cybersecurity consulting from Accenture plc (ACN - Free Report) , Cisco Systems, Inc. (CSCO - Free Report) and Microsoft Corporation (MSFT - Free Report) limits its growth potential. Integration challenges and prolonged public-sector procurement cycles could also limit near-term contributions.

Nevertheless, Logiq Consulting's specialized capabilities and established presence in highly regulated U.K. markets position IBM to pursue incremental consulting opportunities and strengthen its competitive position over the long term.

IBM has raised its dividend every year since 1916, but the raises have shrunk to a single penny while debt climbs and a weak quarter rattles investors. Whether the cash machine can satisfy retirees and fund IBM's AI ambitions at…

IBM (NYSE:IBM | IBM Price Prediction) has paid a quarterly dividend every year since 1916, and 2026 brought its 31st consecutive year of dividend increases. For retired people who own the stock for income, the run matters less than the cash behind it. IBM is also paying for AI, acquisitions and quantum computing, and a weak second quarter has added pressure.

Free Cash Flow Still Covers the Payout IBM generated $14.734 billion of free cash flow in 2025 and paid $6.255 billion in common dividends. That means the payout took about 42% of free cash flow. In the first half of 2026, IBM produced $4.8 billion of free cash flow and paid out $3.2 billion in dividends. Management still expects free cash flow to rise by about $1 billion this year. CFO Jim Kavanaugh described the plan on the July call:

“We believe with the focused portfolio that we have, with a very disciplined capital allocation, the diversity of our business model as you see in our guide, with a relentless focus on productivity, we drive the durability of that free cash flow engine that, by the way, enables that flywheel to invest for growth.”

A Long Streak Kept Alive by One-Cent Raises The raises have become much smaller. In 2015, IBM lifted the quarterly dividend from $1.10 to $1.30, an increase of about 18%. Every annual raise since 2020 has been exactly one cent, taking the payout from $1.63 to today’s $1.69. The latest increase was about 0.6%. At $233.24 a share, the $6.76 annualized dividend yields about 2.9%. The board is protecting the run and sending most extra cash elsewhere.

Debt and Deals Want the Same Dollars IBM ended the second quarter with $62 billion of total debt. That figure includes $13 billion linked to its financing business. Cash and equivalents dropped to $7.172 billion, down 39.95% from a year earlier. IBM spent $8.294 billion on acquisitions in 2025, closed the Confluent deal in early 2026 and plans to invest more than $10 billion in quantum over the next five years. Management says most of the net interest drag is now behind it.

What the Business Is Actually Doing Second-quarter revenue rose 1.1% to $17.162 billion, and operating EPS of $2.93 came in short of the $2.97 estimate, missing expectations. Operating income fell 19.67%. Software grew 5.1%, led by Red Hat at 11%, while IBM Z mainframe revenue dropped 42%. CEO Arvind Krishna said many of the delayed deals were already closing:

“The fact that a third have already closed in the first three weeks gives us an indication, not yet full evidence, but a good indication that this was deferral and not destruction.”

Shares are down 19.65% year to date.

How Cisco and Oracle Compare Cisco Systems (NASDAQ:CSCO) raised its quarterly dividend by 2% to $0.42. It brought in $14.177 billion of operating cash flow in fiscal 2026 and spent $1.41 billion on capital expenditures. While Oracle (NYSE:ORCL) has held its dividend at $0.50, its latest quarter showed free cash flow of -$5.396 billion after $28.499 billion of capital spending. Oracle expects to raise about $40 billion in debt and equity this fiscal year. IBM falls between the two. It pays its dividend out of its own cash, but its raises are slower than Cisco’s.

Verdict for Income Investors Ultimately, IBM can keep funding its dividend. Free cash flow covers the payout with room to spare, and debt service and investment still fit inside that cash. The trade-off is growth: the pattern points to more one-cent raises and little real income growth. A one-cent raise is not the warning sign a cut usually sends (we laid out the seven that are in a free dividend trap guide). At the next earnings report, keep an eye on whether free cash flow stays on track for the extra $1 billion and whether the delayed software deals close.

Contact [email protected] for any questions or corrections.

Collaboration aims to accelerate development of the manufacturing and design capabilities needed for future nanostack generations

, /PRNewswire/ -- Today, IBM (NYSE: IBM), in collaboration with Siemens, announced new research aimed at advancing IBM's nanostack architecture, a new transistor architecture unveiled by IBM earlier this year. The collaboration will bring together IBM's leadership in semiconductor device innovation and Siemens' expertise in electronic design automation (EDA), process simulation, lithography optimization, and advanced manufacturing software to accelerate the development of nanostack.

Nanostack is the industry's first known three-dimensional, nanosheet-based design, vertically stacking and staggering transistors to pack more transistors onto a chip, with nearly 100 billion transistors in a space the size of a fingernail at its current 7 angstrom node. The design also unlocks the use of different material combinations within each stacked layer to optimize performance and power efficiency of each transistor independent of the other. These innovations power substantial leaps in energy efficiency, performance, and SRAM scaling.

Earlier this year, IBM demonstrated the viability of the nanostack architecture. Now, additional advances are needed to prepare the technology for manufacturing and production at scale.

Through this collaboration, IBM and Siemens will work to advance the design, simulation, and lithography techniques needed for this and future nanostack generations beyond the current 7 angstrom node. The collaboration includes developing advanced virtual models of nanostack in order to model performance, optimize designs, and address fabrication challenges before chips are built.

"Nanostack is a scalable transistor platform designed to shift device scaling from 2D to 3D, representing a new paradigm for the semiconductor industry and a path forward for the logic scaling needed to support AI and other emerging technologies over the coming decade," said Huiming Bu, Vice President of Silicon Technology R&D, IBM. "We are thrilled to work with Siemens as we continue to advance this technology and explore new approaches to extend angstrom-level scaling with nanostack."

"Scaling semiconductors into the angstrom era demands tightly coupled co-optimization between device physics, EDA design and manufacturing software, and manufacturing. As physical AI places extraordinary demands on silicon architecture, IBM's 3D nanostack design represents a pivotal leap forward," said Ankur Gupta, Executive Vice President, EDA IC Portfolio, Siemens. "Siemens' collaboration with IBM to advance virtual modeling, simulation, lithography, and design software optimizations needed to address physical limitations early and accelerate the development of these complex architectures is truly pioneering."

By combining IBM's semiconductor leadership with Siemens' advanced EDA software and simulation technologies, the companies aim to accelerate technology development cycles and advance the manufacturing foundation necessary for bringing nanostack toward production.

About IBM

IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Thousands of governments and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM's hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM's breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM's long-standing commitment to trust, transparency, responsibility, inclusivity and service. Visit www.ibm.com for more information.

Media contact:

Willa Hahn
IBM Communications
[email protected] 

SOURCE IBM

IBM Stock Gets $240 Price Target as Truist Questions Timing of AI Demand Summary

Truist began covering IBM with a Hold rating and a $240 price target, citing uncertainty over when enterprise AI investment will translate into stronger deman

IBM (IBM) received a Hold rating from Truist Securities on Friday as the firm began covering the technology company with a $240 price target.

The move puts the focus on whether its AI-related offerings can generate customer demand soon enough to offset execution concerns, according to a Friday analyst note.

Analyst Arvind Ramnani sees IBM as having several routes into enterprise AI. Its mainframe systems handle transaction workloads, watsonx Orchestrate coordinates tasks across AI models, and Red Hat software supports applications across private data centers and cloud platforms. IBM also provides consulting to help businesses put AI tools into use.

The central question is when corporate investment in AI infrastructure will begin translating into more demand for IBM. Truist highlighted uncertainty about that timeline alongside the company's second-quarter 2026 results, which missed expectations and preceded a sell-off of more than 20%.

Following the decline, IBM trades at about 17 times forward earnings, a valuation Truist considers reasonable. Still, the Hold recommendation reflects a wait-and-see stance: IBM has businesses positioned around AI, but the timing and scale of commercial returns remain uncertain.

Disclosures I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.

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IBM moves to third phase of DARPA's rigorous evaluation of approaches to building a fault-tolerant quantum computer

, /PRNewswire/ -- IBM (NYSE: IBM) today announced it has been selected for Stage C, the third phase of the Quantum Benchmarking Initiative (QBI) led by DARPA, the United States Defense Advanced Research Projects Agency. This phase will advance IBM through DARPA's verification process, in which independent experts extensively test and measure quantum hardware, technology, systems engineering, and architectures to determine if a company can build a fault-tolerant quantum computer.

IBM "Advancing to the third stage of DARPA's Quantum Benchmarking Initiative validates the strength of IBM's path to building a fault-tolerant quantum computer," said Jay Gambetta, Director of IBM Research and IBM Fellow. "IBM expects to deliver the first fault-tolerant system in 2029, and we plan to scale the value of quantum computing well beyond that timeline. We look forward to working with DARPA's team of experts as they advance their review of approaches to fault-tolerant quantum computing into the testing phase."

As an independent research and development arm of the U.S. Department of Defense, DARPA launched the QBI in 2024 to determine whether an industrially useful fault-tolerant quantum computer can be built by 2033. The program defines such a system as one whose computational value will exceed its cost. IBM has successfully progressed through the QBI's assessment process, including the first two stages that analyzed comprehensive R&D plans and risk mitigation approaches.

IBM has built the strongest quantum foundation in the industry, anchored by the largest fleet of quantum computers across the globe and Qiskit, the world's most popular quantum software. IBM's quantum computers are already being used today as scientific tools by a network of more than 340 organizations across financial services, healthcare, materials science, academia, and government as they build industrial applications and pursue algorithms to unlock the full potential of fault-tolerant quantum computing.

Last year, IBM laid out its plans to deliver the world's first fault-tolerant quantum computer, IBM Quantum Starling. Starling will combine advances in error correction, processor design, systems engineering, and more. Since then, IBM's progression has remained on course, including the demonstration of core hardware components for fault tolerance and breakthroughs in efficient error correction decoding.

Advancing to Stage C

Each successful QBI performer has progressed through three stages of the program thus far:

Stage A required organizations to submit an initial technical concept of a cost-effective, fault-tolerant quantum computer that has a plausible path to realization in the near term. Several Stage A performers were announced in April 2025. Stage B called for a comprehensive research and development plan from each company detailing how to realize such a quantum computer, as well as the risks associated with this plan and mitigation approaches. Announced today, those selected for Stage C will move beyond conceptual plans and progress to evaluation by DARPA's QBI independent verification and validation (IV&V) team as they test the companies' hardware. Alongside its participation in QBI, IBM continues to collaborate with partners across industry, government, and academia to accelerate the timeline toward fault-tolerant quantum computing.

For more information about the Quantum Benchmarking Initiative, visit the DARPA website.

About IBM

IBM is a leading global hybrid cloud and AI, and business services provider, helping clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Thousands of governments and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM's hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM's breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM's legendary commitment to trust, transparency, responsibility, inclusivity and service.

For more information, visit https://research.ibm.com.

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SOURCE IBM

Volumetric Building Companies cuts operational cycle times by 50% with SAP Cloud ERP Second Nature Brands extends and strengthens their common enterprise platform following its Voortman acquisition Modernized ERP foundation positions clients to scale operations and support AI-readiness , /PRNewswire/ -- IBM (NYSE: IBM) today announced IBM Ready for SAP Solutions to help midsize and fast-growing organizations accelerate cloud ERP modernization, unify enterprise data, and establish an AI-ready digital core. Volumetric Building Companies and Second Nature Brands are among the clients using the solution to support growth and future AI initiatives.

Volumetric Building Companies (VBC), a global modular construction company, reduced operational cycle times by 50% across purchasing, manufacturing, and inventory processes following a three-month SAP Cloud ERP transformation with IBM. Second Nature Brands, a portfolio company and creator of premium snacks and treats, recently completed an SAP Cloud ERP transformation with IBM that integrated its acquired Voortman Bakery business and established a common enterprise platform for its operations.

The two transformations demonstrate how IBM Ready for SAP Solutions can support different business needs, from improving operational efficiency to integrating acquired businesses onto a common enterprise platform. 

"As our business continues to grow, we needed technology that could scale with us and give our teams a more connected way of operating," said Chris Macies, COO, Volumetric Building Companies. "By modernizing our ERP environment with IBM, we now have unified visibility across our supply chain and operations, helping our teams move faster and make more informed decisions with greater visibility throughout the manufacturing process. Just as importantly, we've established a scalable digital foundation that positions VBC to support future automation and AI initiatives as we continue to grow."

"Successfully integrating an acquisition is about more than combining operations. It's about quickly implementing and expanding a unified foundation built for future growth," said Jeff O'Gradney, VP IT, Second Nature Brands. "Working with IBM, we successfully integrated the Voortman Bakery business and expanded our common enterprise platform that positions Second Nature Brands to scale more efficiently as one organization."

Bringing together IBM's industry expertise, fit-to-standard delivery, and IBM Consulting Advantage, the company's AI-powered consulting delivery platform, IBM Ready for SAP Solutions is designed to help organizations accelerate transformation at scale.

"Businesses are under increasing pressure to operate with greater speed, efficiency and predictability, and many are implementing AI to improve," said Dr. Tom Janoshalmi, Global Managing Partner, IBM Consulting. "But scaling AI requires a connected and modern enterprise foundation. VBC and Second Nature Brands started from different places, and now both run on a modern SAP platform built for what comes next."

Volumetric Building Companies and Second Nature Brands' transformations reflect a broader shift as companies focus on modernizing ERP systems to improve operational efficiency and prepare for AI. According to research from the IBM Institute for Business Value, 68% of enterprises say accelerating ERP modernization is important to improving operational efficiency and maintaining competitiveness.

"Businesses can unlock the greatest enterprise-wide value from AI when they connect intelligent technologies with rich data semantics, end-to-end business processes, industry expertise, and strong governance," said Santina Franchi, SAP Corporate Segment and GROW. "VBC and Second Nature Brands recognize this opportunity and are building a modern digital core with SAP and IBM Ready for SAP Solutions as the foundation for scaling their AI ambitions with confidence, speed, and reliability. Through this partnership, we are extending our GROW Fast methodology to help customers accelerate their journey to SAP Cloud ERP, enabling go-lives in weeks and creating a strong platform to expand across the SAP Autonomous Enterprise."

IBM Ready for SAP Solutions is currently available in limited countries and for specific industries. IBM plans to continue expanding availability of the solution globally across additional industries and markets. To learn more, visit ibm.com/consulting/sap-ibm-ready.

About IBM

IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Thousands of governments and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM's hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM's breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM's long-standing commitment to trust, transparency, responsibility, inclusivity and service.

Visit www.ibm.com for more information.

Media contact:

Kristen Shah
IBM
[email protected] 

SOURCE IBM

International Business Machines Corporation (NYSE:IBM) shares are trading higher Thursday after the company announced self-hosted deployment for IBM Bob, its agentic software development platform, designed to help enterprises advance AI sovereignty and governance.

IBM shares are climbing with conviction. Why is IBM stock up today? The new deployment option allows organizations to bring AI-powered software development to on-premises, private-cloud, sovereign-cloud, and air-gapped environments, rather than requiring sensitive code, data, or workflows to move to external services. IBM said the offering is aimed at enterprises in regulated industries that need greater control over data residency, security policies, and AI governance, allowing them to run supported models on premises — including in air-gapped environments — or connect Bob to external model services through hybrid configurations.

“The future of enterprise AI will depend on security, governance and sovereignty,” said Neel Sundaresan, GM of AI and Automation at IBM. “Organizations need AI that operates inside environments they have control over, especially when working with sensitive code and regulated data. Bob’s self-hosted deployment provides a way for enterprises to bring agentic AI directly to those environments so they can benefit from the technology while maintaining security, compliance, and operational control.”

IBM Shares Rush HigherIBM Price Action: At the time of publication, IBM shares are trading 5.94% higher at $233.00, according to data from Benzinga Pro.

Image via Shutterstock

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Key Takeaways IBM is enabling Digital Asset Haven clients to connect with Swift's blockchain-based shared ledger.IBM's ISO 20022 Messaging Adapter supports tokenized deposit transactions using standard payment messages.On-premises deployment on IBM Z and LinuxONE gives clients greater control over digital asset operations. International Business Machines Corporation (IBM - Free Report) has strengthened its footprint in digital banking infrastructure by enabling IBM Digital Asset Haven clients to connect with Swift’s blockchain-based shared ledger. The company is introducing an on-premises beta deployment that gives financial institutions and other regulated organizations greater control over their digital asset operations.

Under the beta offering, IBM Digital Asset Haven’s ISO 20022 Messaging Adapter allows financial institutions to process tokenized deposit transactions using standard ISO 20022 messages. The solution helps banks use existing payment formats and compliance processes while connecting to permissioned blockchain networks. By integrating with Swift’s shared ledger, the company enables institutions to support tokenized deposits and move digital assets 24/7 before final settlement.

The company’s on-premises deployment, available on IBM Z and IBM LinuxONE, allows clients to manage digital assets within their own data centers with greater security and control. It includes hardware-backed protection through IBM Crypto Express HSMs, confidential computing, secure environment partitioning, structured key ceremonies and cold-storage capabilities. It also maintains the same architecture, APIs and workflows as the platform’s SaaS and hybrid options.

These developments reflect IBM’s ongoing efforts to advance digital asset infrastructure while helping financial institutions adopt tokenized assets within established security and compliance frameworks.

How Are Competitors Advancing in Digital Banking?IBM faces competition from Microsoft Corporation (MSFT - Free Report) and Alphabet Inc. (GOOGL - Free Report) . Microsoft has expanded its digital banking efforts by helping financial institutions modernize core banking, payments and customer experiences through Azure and artificial intelligence (AI). The company has partnered with OYAK ANKER Bank to move its banking operations to Azure and develop a new mobile banking platform. Microsoft is working with banks to use AI for personalized banking services, data analysis and more efficient financial operations.

Alphabet is bringing its AI and cloud technologies deeper into the banking sector through Google Cloud. Its latest efforts include Gemini-powered tools that help financial institutions with customer service, data analysis, risk management and other banking operations. Alphabet is helping banks use AI to improve fraud detection, automate routine tasks, analyze financial data and deliver more personalized services.

IBM’s Price Performance, Valuation & EstimatesIBM shares have lost 19.4% over the past year against the industry’s growth of 210.8%.

Image Source: Zacks Investment Research

From a valuation standpoint, IBM trades at a forward price-to-sales ratio of 2.93, below the industry average of 5.35.

Image Source: Zacks Investment Research

Earnings estimates for 2026 have declined 0.1% to $12.33 over the past 60 days, while the same for 2027 have decreased 0.1% to $13.22.

Image Source: Zacks Investment Research

IBM enables financial institutions to connect to Swift's blockchain-based shared ledger for tokenized deposit transactions with beta IBM Digital Asset Haven extends to on-premises beta deployment, giving institutions greater deployment control of their digital asset technology stack , /PRNewswire/ -- IBM (NYSE: IBM) today announced two key capabilities designed to help financial institutions, governments, and other regulated organizations provide digital asset services while prioritizing enterprise-grade security and control. In a beta offering, IBM Digital Asset Haven clients can now connect to permissioned blockchain networks, including Swift's blockchain-based shared ledger. IBM is also extending IBM Digital Asset Haven to an on-premises beta deployment option, enabling clients to manage digital asset operations entirely within their own data centers.

According to J.P. Morgan Payments, 93% of financial institutions are modernizing their payments infrastructure¹ as banks look to move money more efficiently across borders and manage a growing range of digital assets. This shift is increasing demand for infrastructure that can support new forms of digital transactions while meeting banks' security, compliance, and operational requirements.

IBM advances cross-border payments with Swift's ledger

IBM Digital Asset Haven now enables clients to connect to Swift's blockchain-based shared ledger. Swift is the globally inclusive cooperative that connects 12,500 financial institutions across 200+ markets. With the beta release of the IBM Digital Asset Haven ISO 20022 Messaging Adapter feature, institutions can instruct tokenized deposit transactions using standard ISO 20022 messages through the shared ledger infrastructure, allowing them to build on existing payment message formats and operational processes instead of blockchain-specific workflows. Swift's ledger supports bank-issued tokenized deposits and participating IBM clients can move digital assets 24 hours a day, 7 days a week, ahead of final settlement through existing systems, while continuing to use established Swift standards and banks' own compliance processes.

Announced at Sibos 2025 and designed in collaboration with more than 40 financial institutions worldwide, Swift's ledger moved from concept to activation within nine months and is being put to first use by 17 first-mover institutions piloting tokenized deposit transactions. Financial institutions already participating in the program have successfully tested tokenized deposits on the Swift shared ledger with IBM Digital Asset Haven, demonstrating how banks can use existing standards and compliance processes to explore new models for moving money digitally.

IBM Digital Asset Haven extends to on-premises beta deployment

IBM is also extending Digital Asset Haven, a platform built to help banks, governments, and other regulated organizations manage and secure digital assets, to an on-premises beta deployment for clients. This deployment allows organizations to manage digital assets such as stablecoins and tokenized deposits entirely within their own environments.

Since launching IBM Digital Asset Haven SaaS and hybrid deployment options in October 2025, banking and payment institutions across multiple continents have begun implementing digital asset use cases with IBM Digital Asset Haven.

The new on-premises deployment option is designed to run entirely inside a client's own data center on IBM Z and IBM LinuxONE with no dependency on public cloud infrastructure. Clients can deploy it on compatible IBM infrastructure already in their environment or add new capacity based on their requirements.

IBM Digital Asset Haven on-premises differentiates from existing deployment options by being built to combine client control with increased performance, speed, and scale for digital asset operations, while prioritizing enterprise-grade security. IBM Digital Asset Haven's on-premises key features include:

Client-Controlled Deployment keeps both the solution layer and the key management layer entirely inside the client's own IBM LinuxONE or IBM Z environment, with configurations achieving industry-leading 99.999999% availability2. Hardware-Backed Security protects keys using IBM Crypto Express HSMs embedded in LinuxONE, with confidential computing and secured environment partitioning isolating production, test, and development environments. Structured Key Ceremonies and Cold Storage follow formal, auditable processes used to generate root certificate authority keys, producing documentation clients can present to regulators, with support for IBM Offline Signing Orchestrator cold storage operations. Consistent Experience Across Deployments carries the same architecture, APIs, and workflows as Haven's SaaS and Hybrid SaaS options, so clients can move between deployment models without rewriting applications. "The financial services industry is entering a new era where tokenized and traditional assets will need to move side by side," said Tom McPherson, General Manager, IBM Z and LinuxONE. "As institutions modernize payments and prepare for a future of always-on transactions, they need infrastructure that combines innovation with the security, resiliency, and regulatory compliance requirements of regulated banking. By connecting to Swift's shared ledger and extending IBM Digital Asset Haven to on-premises environments, IBM is helping clients participate in emerging digital asset networks while prioritizing control of their most critical financial operations."

For more information about IBM's integration with Swift's shared ledger, visit here. Institutions interested in IBM Digital Asset Haven's on-premises beta can join the waitlist at here.

Statements regarding IBM's future direction and intent are subject to change or withdrawal without notice, and represent goals and objectives only.

About IBM
IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Thousands of government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM's hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM's breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM's long-standing commitment to trust, transparency, responsibility, inclusivity and service.

Additional Sources
What's New IBM Digital Asset Haven On-Prem and Swift Blog 

Disclaimers:
1. https://www.jpmorgan.com/insights/payments/fx-cross-border/2026-trends-for-financial-institutions 

2. IBM internal data based on measurements and projections was used in calculating the expected value. Necessary components include IBM LinuxONE Rockhopper 5; IBM z/VM V7.3 systems or above collected in a Single System Image, each running RHOCP 4.14 or above; IBM Operations Manager; GDPS 4.6 or above for management of data recovery and virtual machine recovery across metro distance systems and storage, including Metro Multi-site workload and GDPS Global; and IBM DS8000 series storage with IBM HyperSwap. A MongoDB v4.4 workload was used. Necessary resiliency technology must be enabled, including z/VM Single System Image clustering, GDPS xDR Proxy for z/VM, and Red Hat OpenShift Data Foundation (ODF) 4.14 or above for management of local storage devices. Application-induced outages are not included in the above measurements. Other configurations (hardware or software) may provide different availability characteristics.

Media Contact:
Aishwerya Paul
IBM Infrastructure Communications
[email protected] 

SOURCE IBM

IBM has raised its dividend for three decades straight, but the latest increase fits on a penny. Before counting on that income to keep pace with rising costs, retirees should understand what the streak actually delivers.

The headline is easy to sell. IBM (NYSE:IBM | IBM Price Prediction) has paid consecutive quarterly dividends every year since 1916 and, with the April declaration, notched its 31st consecutive year of dividend increases. The reality a retiree actually banks is smaller. Much smaller.

A Streak That Shrank in Size The most recent raise took the quarterly payout from $1.68 to $1.69, declared April 22, 2026. That is a penny a quarter, roughly four cents on the annualized rate. Walk the history back and the trajectory is unmistakable:

2015: $1.10 to $1.30 (a 20-cent quarterly raise) 2013: $0.85 to $0.95 2011: $0.65 to $0.75 2019: $1.57 to $1.62, then annual pennies since Five straight one-cent bumps ($1.63, $1.64, $1.65, $1.66, $1.67, $1.68, $1.69) is a streak preserved by rounding.

Peers on the Same Trend, Different Speeds Cisco Systems (NASDAQ:CSCO) has taken its quarterly from $0.06 in 2011 to $0.42 in 2026, and its latest step was a familiar penny ($0.41 to $0.42). Microsoft (NASDAQ:MSFT) pushed its quarterly from $0.91 to $0.98 in September, on a run from $0.13 in 2010. Oracle (NYSE:ORCL) went from $0.40 to $0.50 in early 2025 and has held there through October 2026. IBM offers the highest yield of the group (2.83%) and the slowest growth.

Is the Payout Safe? Yes. Is It Growing? Barely. Cash coverage is ample. IBM produced free cash flow of $14.73B in 2025 against a dividend payout of $6.255 billion. CFO Jim Kavanaugh told analysts on the Q2 call, “We returned $3.2 billion to shareholders in the form of dividends through the first half of the year,” and framed cash generation this way: “Over the last four years, we have grown our free cash flow over $6.5 billion in this company and grown free cash flow margin 700 basis points.”

The cash is being redirected. IBM absorbed Confluent and HashiCorp, carries $62 billion in debt, and is committing more than $10 billion to quantum computing over five years. CEO Arvind Krishna said IBM is “in the early innings of a structural shift for business” and pointed to a generative AI book of business of more than $12.5 billion.

Verdict A one-cent quarterly bump does not clear a 3% cost-of-living increase. With shares down 20.71% year to date at $230.17, the total-return case now leans on the AI reinvestment thesis, not dividend growth. Treat IBM as a fixed-income substitute with an intact streak. Investors expecting real income growth should watch Microsoft.

Contact [email protected] for any questions or corrections.

Reynders McVeigh Capital Management LLC boosted its stake in International Business Machines Corporation (NYSE:IBM – Free Report) by 5.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 150,929 shares of the technology company’s stock after buying an additional 7,403 shares during the period. International Business Machines accounts for 1.7% of Reynders McVeigh Capital Management LLC’s portfolio, making the stock its 17th biggest holding. Reynders McVeigh Capital Management LLC’s holdings in International Business Machines were worth $42,443,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Basepoint Wealth LLC acquired a new position in shares of International Business Machines during the fourth quarter valued at approximately $25,000. Cornerstone Financial Management LLC acquired a new position in shares of International Business Machines during the 4th quarter valued at $28,000. Harborfront Financial Group LLC bought a new stake in shares of International Business Machines in the 2nd quarter worth $27,000. Hara Capital LLC acquired a new stake in shares of International Business Machines in the second quarter valued at $28,000. Finally, Bare Financial Services Inc boosted its stake 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 buying an additional 55 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

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

Positive Sentiment: IBM subsidiary Anderon finalized a $1 billion CHIPS and Science Act award from the U.S. Department of Commerce to support research, development and early production at a 300-millimeter quantum wafer foundry in Albany, New York. IBM is expected to match the award with its own investment. The deal strengthens IBM’s position in quantum-computing infrastructure, although the funding is intended largely for development rather than an immediate revenue increase. Anderon CHIPS award announcement Positive Sentiment: Investors view the Anderon facility as a potential long-term growth opportunity because IBM could build quantum manufacturing capacity and provide infrastructure to outside customers. Reports of initial quantum-wafer production and fresh industry breakthroughs have also lifted sentiment toward IBM and quantum peers. IBM quantum infrastructure report Positive Sentiment: IBM announced collaborations with CUBE and Dun & Bradstreet that add regulatory intelligence and verified business data to watsonx.governance and watsonx Orchestrate. The agreements support IBM’s effort to turn AI pilots into production-grade, compliant enterprise workflows, though financial terms were not disclosed. CUBE and IBM collaboration Neutral Sentiment: Analysts cited in recent coverage set an average price target of approximately $265.90, implying potential upside from recent trading levels, but the target is not a guarantee and IBM remains below its 200-day moving average. Negative Sentiment: IBM recently experienced a sharper decline than the broader market, with coverage pointing to profit-taking, technical weakness and general market pressure despite the quantum award. The company must also commit substantial capital alongside federal funding, which could limit the near-term earnings benefit. IBM recent market decline Wall Street Analysts Forecast Growth A number of research analysts recently issued reports on the company. Needham & Company LLC initiated coverage on International Business Machines in a report on Wednesday, June 3rd. They set a “buy” rating on the stock. Morgan Stanley cut their price target on shares of International Business Machines from $293.00 to $190.00 and set an “equal weight” rating for the company in a report on Thursday, July 23rd. Royal Bank Of Canada restated an “outperform” rating and set a $270.00 price objective on shares of International Business Machines in a research report on Tuesday, July 21st. 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. Finally, Roth Capital reiterated a “buy” rating on shares of International Business Machines in a report on Wednesday, June 3rd. Seventeen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, International Business Machines currently has a consensus rating of “Moderate Buy” and a consensus target price of $265.16. Read Our Latest Stock Analysis on IBM

International Business Machines Price Performance IBM opened at $238.27 on Friday. The stock has a fifty day moving average of $232.30 and a 200-day moving average of $246.70. The firm has a market capitalization of $224.48 billion, a P/E ratio of 21.14, a PEG ratio of 2.26 and a beta of 0.71. International Business Machines Corporation has a 12-month low of $199.19 and a 12-month high of $332.46. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.63.

International Business Machines (NYSE:IBM – Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The technology company reported $2.93 earnings per share 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 for the quarter, compared to analyst estimates of $17.46 billion. During the same quarter in the prior year, the business earned $2.80 EPS. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. Equities analysts forecast that International Business Machines Corporation will post 12.33 EPS for the current fiscal year.

International Business Machines Announces Dividend The business also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Monday, August 10th were given a $1.69 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 2.8%. International Business Machines’s payout ratio is currently 59.98%.

Insider Activity In related news, SVP Robert Thomas sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $230.32, for a total value of $5,758,000.00. Following the completion of the sale, the senior vice president directly owned 47,800 shares in the company, valued at approximately $11,009,296. The trade was a 34.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.27% of the company’s stock.

(Free Report)

International Business Machines Corporation (IBM) is a global technology and consulting company that provides enterprise-focused hardware, software and services. Its offerings include hybrid cloud solutions, artificial intelligence, data and automation software, cybersecurity tools, IT infrastructure and technology consulting.

IBM develops and supports enterprise systems such as IBM Z mainframes, Power servers and storage products. Its software portfolio includes Red Hat hybrid cloud technologies, the watsonx platform for artificial intelligence and data management, application integration tools and cybersecurity solutions.

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Nokia and IBM have spent five years chasing similar returns, but their bets on where AI infrastructure spending lands could not be more different, and 2026 is forcing a reckoning between the two approaches.

Nokia (NYSE:NOK | NOK Price Prediction) and IBM (NYSE:IBM) have delivered similar five-year returns of 92.7% and 83.9%, respectively. Year to date, the paths diverged sharply. Nokia is up 62.8% after a Q2 beat-and-raise. IBM is down 19.7% after a rare EPS miss.

AI Orders Lift Nokia. Mainframe Timing Sinks IBM. Nokia’s July report showed AI and cloud customer revenue more than doubling, up 105% in constant currency, with Q2 order intake of €2.8 billion in that segment. Optical Networks grew 20% and IP Networks 16%. CEO Justin Hotard said, “Demand remains strong, while supply continues to be the main industry constraint.”

IBM went the other way. Q2 revenue grew just 1.1%, and operating EPS of $2.93 missed the $2.97 consensus. Software rose 5.1%, with Red Hat up 11%, but Infrastructure fell 7.4% as IBM Z mainframe revenue collapsed 42% in a late-cycle trough. CEO Arvind Krishna conceded the quarter “fell short of expectations,” blaming deferred capex deals rather than lost demand.

Plumbing Versus What Runs on It The two reside in AI infrastructure at different layers. Nokia sells physical plumbing: optical transport (fiber gear moving data between and inside data centers) and IP routing (switches directing traffic). Its Infinera acquisition and planned purchase of NXP’s fab in Chandler, Arizona, for indium phosphide production are bets on owning that supply chain. IBM sells what runs on top: Red Hat OpenShift, watsonx orchestration, HashiCorp, Confluent, and mainframes that process over 70% of the world’s transaction value. (The suppliers benefiting from that buildout, from power to cooling to networking, are the subject of a free report we put together.)

Lens Nokia IBM Core Bet Optical and IP for AI data centers Hybrid cloud software and mainframe Q2 Growth Engine AI & Cloud sales +105% Data software +18% Weak Spot Fixed Networks −3% IBM Z −42% Revenue Base Carrier and hyperscaler capex cycles ~80% recurring software A Patent Portfolio IBM Cannot Match Nokia also runs a technology licensing business through Technology Standards, which grew 15% in the quarter. That royalty stream on cellular standards has no IBM analog in networking, and it cushions Nokia when carrier spending sags. A majority of Nokia’s sales are billed in dollars despite its Finnish base, so a stronger euro would compress reported profits for U.S. ADR holders.

Next Test: Deferred Deals and Supply Ramps IBM claims delayed Q2 transactions were “deferral and not destruction” and lowered its full-year constant-currency revenue growth guidance to 4%–5%. Nokia expects combined IP and Optical revenue to grow 18%–20% and aims for indium phosphide fab volume production by Q4 2026.

What the Market Is Paying For At $10.60 per share, Nokia trades at a forward P/E near 22, pricing in a durable AI infrastructure supercycle and successful U.S. manufacturing pivot. IBM, at $237.75, carries a forward P/E near 18, a 2.8% yield, and 31 consecutive years of dividend increases. One is priced as a cyclical growth story that is delivering. The other is priced as a compounder working through an execution stumble and an active securities fraud inquiry.

Contact [email protected] for any questions or corrections.

Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD bought a new stake in International Business Machines Corporation (NYSE:IBM – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 24,475 shares of the technology company’s stock, valued at approximately $6,883,000.

A number of other hedge funds have also bought and sold shares of the business. Basepoint Wealth LLC bought a new position in International Business Machines in the 4th quarter valued at $25,000. Portus Wealth Advisors LLC bought a new stake in shares of International Business Machines during the 1st quarter worth $26,000. Harborfront Financial Group LLC bought a new stake in shares of International Business Machines during the 2nd quarter worth $27,000. Cornerstone Financial Management LLC purchased a new position in shares of International Business Machines in the 4th quarter worth about $28,000. Finally, Hara Capital LLC purchased a new position in shares of International Business Machines in the 2nd quarter worth about $28,000. 58.96% of the stock is currently owned by institutional investors.

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

Positive Sentiment: IBM subsidiary Anderon finalized a $1 billion CHIPS and Science Act award from the U.S. Department of Commerce to accelerate development of a U.S.-based, pure-play quantum wafer foundry. The funding strengthens IBM’s position in quantum infrastructure and could create longer-term strategic opportunities, although it is primarily government support for research and capacity expansion rather than immediate revenue. Anderon finalizes $1 billion CHIPS award Positive Sentiment: Analysts’ reported price targets remain above the current trading level, and coverage highlighted potential growth from IBM’s quantum infrastructure strategy and AI deployments. A Turkish credit-bureau AI deal also reportedly involves production-scale processing of 23 million transactions daily, though IBM did not disclose its contract value. Neutral Sentiment: The quantum award is strategically important but may require substantial execution, investment and time before materially affecting IBM’s earnings. The opportunity is viewed more as a long-term infrastructure platform than an immediate financial catalyst. Negative Sentiment: Despite the government announcement, investors appear to be taking profits after IBM’s recent advance. Technical commentary pointed to resistance near the $239–$241 area, while the retreat below that zone weakened the short-term breakout thesis. Why IBM stock is falling Negative Sentiment: IBM’s latest reported quarter showed earnings in line with estimates but revenue below expectations, reinforcing concerns that the company’s near-term growth remains modest. The stock’s decline while the broader technology market rallied suggests valuation and profit-taking pressures outweighed the quantum news. International Business Machines Trading Down 4.3% Shares of IBM opened at $237.65 on Thursday. The business has a 50-day moving average of $233.43 and a 200 day moving average of $246.71. International Business Machines Corporation has a fifty-two week low of $199.19 and a fifty-two week high of $332.46. The firm has a market cap of $223.90 billion, a P/E ratio of 21.09, a price-to-earnings-growth ratio of 2.37 and a beta of 0.71. 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 (NYSE:IBM – Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The technology company reported $2.93 EPS for the quarter, meeting the consensus estimate of $2.93. The business had revenue of $17.16 billion for the quarter, compared to the consensus estimate of $17.46 billion. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. The company’s revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.80 earnings per share. As a group, research analysts forecast that International Business Machines Corporation will post 12.33 EPS for the current year.

International Business Machines Dividend Announcement The firm also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Monday, August 10th were given a $1.69 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $6.76 annualized dividend and a dividend yield of 2.8%. International Business Machines’s payout ratio is 59.98%.

Insider Activity In related news, SVP Robert Thomas sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $230.32, for a total transaction of $5,758,000.00. Following the sale, the senior vice president directly owned 47,800 shares in the company, valued at approximately $11,009,296. This represents a 34.34% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.27% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth IBM has been the subject of a number of research analyst reports. Craig Hallum initiated coverage on shares of International Business Machines in a report on Wednesday, August 19th. They set a “buy” rating for the company. The Goldman Sachs Group set a $270.00 target price on shares of International Business Machines in a research note on Thursday, July 23rd. KeyCorp downgraded shares of International Business Machines to a “sector weight” rating in a research report on Tuesday, June 23rd. Citigroup decreased their price target on shares of International Business Machines from $255.00 to $245.00 and set a “buy” rating for the company in a research note on Friday, July 24th. Finally, Robert W. Baird assumed coverage on shares of International Business Machines in a report on Tuesday, July 21st. They issued a “neutral” rating and a $230.00 price target on the stock. Seventeen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $265.16.

View Our Latest Analysis on International Business Machines

(Free Report)

International Business Machines Corporation (IBM) is a global technology and consulting company that provides enterprise-focused hardware, software and services. Its offerings include hybrid cloud solutions, artificial intelligence, data and automation software, cybersecurity tools, IT infrastructure and technology consulting.

IBM develops and supports enterprise systems such as IBM Z mainframes, Power servers and storage products. Its software portfolio includes Red Hat hybrid cloud technologies, the watsonx platform for artificial intelligence and data management, application integration tools and cybersecurity solutions.

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HighTower Advisors LLC grew its stake in shares of International Business Machines Corporation (NYSE:IBM – Free Report) by 27.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,716,120 shares of the technology company’s stock after acquiring an additional 372,987 shares during the period. HighTower Advisors LLC owned 0.18% of International Business Machines worth $482,590,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in IBM. BlackRock Inc. purchased a new stake in International Business Machines during the 2nd quarter worth about $21,586,659,000. Bank of America Corp DE purchased a new position in International Business Machines during the 2nd quarter valued at about $4,214,868,000. Bank of New York Mellon Corp purchased a new position in International Business Machines during the 2nd quarter valued at about $2,606,782,000. Norges Bank bought a new stake in shares of International Business Machines during the fourth quarter valued at about $2,446,429,000. Finally, Legal & General Group Plc purchased a new stake in shares of International Business Machines in the second quarter worth about $1,874,733,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling In other International Business Machines news, SVP Robert Thomas sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $230.32, for a total transaction of $5,758,000.00. Following the sale, the senior vice president owned 47,800 shares in the company, valued at $11,009,296. This trade 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 currently owned by corporate insiders.

International Business Machines Trading Down 0.3% Shares of IBM opened at $248.39 on Wednesday. The firm’s 50 day simple moving average is $234.72 and its 200 day simple moving average is $246.74. The company has a market capitalization of $234.01 billion, a P/E ratio of 22.04, a P/E/G ratio of 2.37 and a beta of 0.71. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.79 and a quick ratio of 0.74. International Business Machines Corporation has a 1-year low of $199.19 and a 1-year high of $332.46. International Business Machines (NYSE:IBM – Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The technology company reported $2.93 EPS for the quarter, hitting analysts’ consensus estimates of $2.93. The business had revenue of $17.16 billion during the quarter, compared to analysts’ expectations of $17.46 billion. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.80 EPS. Sell-side analysts forecast that International Business Machines Corporation will post 12.33 earnings per share for the current fiscal year.

International Business Machines Announces Dividend The company also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Monday, August 10th were paid a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Monday, August 10th. International Business Machines’s dividend payout ratio is currently 59.98%.

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

Positive Sentiment: IBM’s AI deployment with a Turkish credit bureau will process approximately 23 million transactions daily, providing evidence that its technology is being used at production scale. The contract’s financial value was not disclosed, limiting the immediate earnings impact. IBM’s New AI Deal Must Handle 23 Million Transactions Daily Positive Sentiment: IBM’s collaboration with NASA to release an open-source lunar foundation model enhances its credibility in specialized AI. The model analyzes lunar data for features such as craters, ice deposits and volcanic activity, potentially supporting future government and research workloads. IBM Takes its AI Strategy Beyond Earth with NASA Lunar Model Positive Sentiment: Technical traders see IBM potentially breaking above the $239 resistance level after forming an ascending-triangle pattern. Sustained trading above that level could reinforce momentum and attract additional buyers. Stock of the Day: Did IBM Just Break Out? Neutral Sentiment: NVIDIA’s CUDA-Q Logical platform includes IBM quantum hardware in early benchmarking and could make hybrid GPU-quantum computing more practical. The development supports IBM’s long-term quantum ecosystem, but commercial revenue and adoption remain uncertain. Cashing in on the Qubit: NVIDIA Takes the Quantum Leap Neutral Sentiment: Europe’s green IT software market is forecast to more than double by 2031 as companies address sustainability reporting and energy optimization. IBM is listed among the potential beneficiaries, although the report does not identify new IBM revenue or contracts. Europe Green IT Software Forecasts Growth Negative Sentiment: Quiver Quantitative data shows an IBM senior vice president sold 25,000 shares, while broader insider activity over the past six months included no purchases. The sale may weigh modestly on sentiment, though it does not necessarily indicate a change in IBM’s fundamentals. IBM Stock Opinions on Recent Price Surge and AI Deals Negative Sentiment: IBM’s reported settlement of discrimination-related claims tied to Trump-era diversity, equity and inclusion policies adds legal and reputational risk, although the article provides limited detail on IBM’s payment or potential financial exposure. Consulting’s Trump-era DEI Bill Analyst Ratings Changes A number of research firms have recently commented on IBM. Sanford C. Bernstein restated a “market perform” rating on shares of International Business Machines in a research report on Thursday, July 16th. Craig Hallum started coverage on shares of International Business Machines in a research note on Wednesday, August 19th. They issued a “buy” rating on the stock. Bank of America raised their price target on shares of International Business Machines from $315.00 to $330.00 and gave the company a “buy” rating in a report on Monday, July 6th. Roth Capital restated a “buy” rating on shares of International Business Machines in a research report on Wednesday, June 3rd. Finally, Piper Sandler raised shares of International Business Machines to an “overweight” rating in a report on Tuesday, June 23rd. Seventeen research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $265.16.

Get Our Latest Stock Report on IBM

International Business Machines Company Profile (Free Report)

International Business Machines Corporation (IBM) is a global technology and consulting company that provides enterprise-focused hardware, software and services. Its offerings include hybrid cloud solutions, artificial intelligence, data and automation software, cybersecurity tools, IT infrastructure and technology consulting.

IBM develops and supports enterprise systems such as IBM Z mainframes, Power servers and storage products. Its software portfolio includes Red Hat hybrid cloud technologies, the watsonx platform for artificial intelligence and data management, application integration tools and cybersecurity solutions.

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NBH Bank purchased a new stake in shares of International Business Machines Corporation (NYSE:IBM – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,952 shares of the technology company’s stock, valued at approximately $1,111,000.

Several other hedge funds have also added to or reduced their stakes in the company. Basepoint Wealth LLC bought a new stake in International Business Machines during the 4th quarter worth about $25,000. Cornerstone Financial Management LLC bought a new position in shares of International Business Machines in the 4th quarter valued at about $28,000. Harborfront Financial Group LLC bought a new position in shares of International Business Machines in the 2nd quarter valued at about $27,000. Hara Capital LLC acquired a new stake in shares of International Business Machines during the 2nd quarter worth approximately $28,000. Finally, Bare Financial Services Inc raised its stake in shares of International Business Machines by 114.6% during the second quarter. Bare Financial Services Inc now owns 103 shares of the technology company’s stock worth $29,000 after buying an additional 55 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Insider Activity at International Business Machines In related news, SVP Robert Thomas sold 25,000 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $230.32, for a total transaction of $5,758,000.00. Following the sale, the senior vice president owned 47,800 shares of the company’s stock, valued at approximately $11,009,296. This trade represents a 34.34% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.27% of the stock is currently owned by corporate insiders.

Key Stories Impacting International Business Machines Here are the key news stories impacting International Business Machines this week: Positive Sentiment: NASA lunar AI model expands IBM’s AI profile. IBM and NASA released the open-source NASA-IBM Lunar Foundation Model, which analyzes lunar observation data to map craters, identify possible ice deposits and study volcanic features. The launch demonstrates IBM’s ability to apply its AI technology to specialized scientific and government workloads and could support broader commercial AI opportunities. IBM Takes its AI Strategy Beyond Earth with NASA Lunar Model Positive Sentiment: NASA collaboration is being viewed as a potential long-term growth catalyst. Commentary on the partnership suggests the open-source model could broaden IBM’s AI runway and strengthen its position in advanced research and enterprise applications. How to Play IBM Stock as It Teams Up with NASA to Launch a New Open-Source Model Positive Sentiment: IBM remains involved in the developing quantum-computing ecosystem. IBM quantum hardware was included in early evaluations of NVIDIA’s CUDA-Q Logical platform, which is designed to connect quantum processors with GPUs and support error-correction development. Separately, IBM is supporting BlueQubit’s $150,000 Quantum Flywheel grant program, increasing its exposure to researchers and potential future quantum-computing customers. BlueQubit Launches Quantum Flywheel Grant Program Neutral Sentiment: Investor attention is elevated. IBM has become a trending stock on Zacks, which may be contributing to trading interest, but the coverage does not identify a new earnings or guidance catalyst. IBM Is a Trending Stock Positive Sentiment: Analyst sentiment remains moderately favorable. Recent coverage indicates analysts have maintained a Moderate Buy rating and that second-quarter 2026 guidance remains intact, providing support for IBM’s valuation while investors await additional operating results. IBM Stock Gains as Analysts Keep Moderate Buy Rating Wall Street Analyst Weigh In Several brokerages recently weighed in on IBM. The Goldman Sachs Group set a $270.00 price objective on shares of International Business Machines in a report on Thursday, July 23rd. Argus lowered their target price on shares of International Business Machines from $360.00 to $280.00 and set a “buy” rating for the company in a report on Thursday, July 16th. Wedbush set a $350.00 target price on shares of International Business Machines in a research report on Tuesday, June 2nd. Morgan Stanley cut their price target 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. Finally, Robert W. Baird began coverage on International Business Machines in a research report on Tuesday, July 21st. They issued a “neutral” rating and a $230.00 price target on the stock. Seventeen research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $265.16.

Read Our Latest Stock Analysis on IBM

International Business Machines Stock Performance Shares of NYSE:IBM opened at $249.09 on Tuesday. The firm’s 50 day simple moving average is $235.87 and its 200 day simple moving average is $246.66. International Business Machines Corporation has a fifty-two week low of $199.19 and a fifty-two week high of $332.46. The company has a market capitalization of $234.68 billion, a price-to-earnings ratio of 22.10, a P/E/G ratio of 2.32 and a beta of 0.71. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.79 and a quick ratio of 0.74.

International Business Machines (NYSE:IBM – Get Free Report) last issued its earnings results on Wednesday, July 22nd. The technology company reported $2.93 EPS for the quarter, meeting the consensus estimate of $2.93. The firm had revenue of $17.16 billion during the quarter, compared to the consensus estimate of $17.46 billion. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.80 earnings per share. As a group, sell-side analysts forecast that International Business Machines Corporation will post 12.33 earnings per share for the current year.

International Business Machines Dividend Announcement The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Monday, August 10th were given a $1.69 dividend. The ex-dividend date was Monday, August 10th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 2.7%. International Business Machines’s dividend payout ratio is currently 59.98%.

International Business Machines Company Profile (Free Report)

International Business Machines Corporation (IBM) is a global technology and consulting company that provides enterprise-focused hardware, software and services. Its offerings include hybrid cloud solutions, artificial intelligence, data and automation software, cybersecurity tools, IT infrastructure and technology consulting.

IBM develops and supports enterprise systems such as IBM Z mainframes, Power servers and storage products. Its software portfolio includes Red Hat hybrid cloud technologies, the watsonx platform for artificial intelligence and data management, application integration tools and cybersecurity solutions.

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Mufg Securities Americas Inc. lifted its holdings in shares of International Business Machines Corporation (NYSE:IBM – Free Report) by 9.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,308 shares of the technology company’s stock after acquiring an additional 2,449 shares during the quarter. Mufg Securities Americas Inc.’s holdings in International Business Machines were worth $7,960,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Basepoint Wealth LLC acquired a new stake in International Business Machines during the 4th quarter valued at $25,000. Portus Wealth Advisors LLC acquired a new position in shares of International Business Machines in the first quarter valued at $26,000. Harborfront Financial Group LLC bought a new position in shares of International Business Machines in the second quarter valued at about $27,000. Cornerstone Financial Management LLC bought a new position in shares of International Business Machines in the fourth quarter valued at about $28,000. Finally, Hara Capital LLC acquired a new stake in shares of International Business Machines during the 2nd quarter worth about $28,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Up 3.9% Shares of IBM opened at $243.14 on Friday. 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 Corporation has a 12 month low of $199.19 and a 12 month high of $332.46. The firm’s 50 day moving average is $236.88 and its 200-day moving average is $246.36. The stock has a market capitalization of $229.07 billion, a PE ratio of 21.57, a P/E/G ratio of 2.23 and a beta of 0.71.

International Business Machines (NYSE:IBM – Get Free Report) last issued 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 return on equity of 35.65% and a net margin of 15.52%.The business had revenue of $17.16 billion during the quarter, compared to analysts’ expectations of $17.46 billion. During the same period in the previous year, the company posted $2.80 earnings per share. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. Equities research analysts forecast that International Business Machines Corporation will post 12.33 EPS for the current year. International Business Machines Announces Dividend The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Monday, August 10th were issued a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, August 10th. International Business Machines’s dividend payout ratio is 59.98%.

Insider Activity at International Business Machines In related news, SVP Robert Thomas sold 25,000 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $230.32, for a total value of $5,758,000.00. Following the transaction, the senior vice president owned 47,800 shares in the company, valued at approximately $11,009,296. This trade represents a 34.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades IBM has been the subject of several research analyst reports. KeyCorp downgraded shares of International Business Machines to a “sector weight” rating in a report on Tuesday, June 23rd. Wolfe Research cut shares of International Business Machines to a “peer perform” rating in a report on Tuesday, June 23rd. Royal Bank Of Canada restated an “outperform” rating and set a $270.00 price objective on shares of International Business Machines in a report on Tuesday, July 21st. Weiss Ratings downgraded International Business Machines from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, June 24th. Finally, Needham & Company LLC started coverage on International Business Machines in a report on Wednesday, June 3rd. They set a “buy” rating for the company. Sixteen equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $265.90.

Get Our Latest Stock Analysis on IBM

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

Positive Sentiment: Lunar AI partnership with NASA: IBM and NASA released the open-source Lunar Foundation Model, trained on decades of lunar observation data. The model reportedly outperformed widely used mapping methods by up to 23% in identifying features such as ice deposits, craters and volcanic formations. The announcement strengthens IBM’s profile in scientific AI, although near-term revenue is likely limited. IBM and NASA Release Open-Source AI Model to Support Lunar Exploration Positive Sentiment: Swiss quantum-computing hub: IBM and Lockheed Martin are establishing a quantum innovation hub at ETH Zurich through Switzerland’s defense-offset program. The Swiss National Supercomputing Centre is expected to host the country’s first IBM Quantum System Two, powered by IBM’s Nighthawk r2 processor and integrated with the Alps supercomputer. The arrangement could provide IBM with a government-supported, multi-year deployment while expanding access to researchers and businesses. Research will focus on quantum sensing, navigation and advanced materials. IBM and Lockheed Martin Announce Swiss Quantum Innovation Hub Neutral Sentiment: Analyst coverage continues to frame IBM as a diversified way to gain exposure to enterprise AI, hybrid cloud and quantum computing. However, the announcements are primarily strategic and research-oriented, so their effect on revenue and earnings may take years to materialize. Negative Sentiment: IBM recently underperformed the broader market, while a shareholder-rights law firm announced an investigation tied to management’s prior preview of weak second-quarter 2026 results. The investigation is not an allegation of wrongdoing, but it adds headline and legal risk. IBM Shareholder Investigation (Free Report)

International Business Machines Corporation (IBM) is a global technology and consulting company that provides enterprise-focused hardware, software and services. Its offerings include hybrid cloud solutions, artificial intelligence, data and automation software, cybersecurity tools, IT infrastructure and technology consulting.

IBM develops and supports enterprise systems such as IBM Z mainframes, Power servers and storage products. Its software portfolio includes Red Hat hybrid cloud technologies, the watsonx platform for artificial intelligence and data management, application integration tools and cybersecurity solutions.

See Also Five stocks we like better than International Business Machines Block Makes a Federal Trust Bank Move That Could Reshape Its Fintech Model Kroger’s Textbook Entry for Buy-and-Hold Investors AST SpaceMobile Looks to Extend Its 30-Day FCC Satellite Testing Window Amgen Drops 10% on a Trial It Didn’t Even Run

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New Mexico Educational Retirement Board grew its stake in International Business Machines Corporation (NYSE:IBM – Free Report) by 7.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,447 shares of the technology company’s stock after acquiring an additional 3,300 shares during the quarter. New Mexico Educational Retirement Board’s holdings in International Business Machines were worth $13,061,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of IBM. BlackRock Inc. purchased a new stake in shares of International Business Machines during the 2nd quarter valued at approximately $21,586,659,000. Bank of America Corp DE acquired a new stake in shares of International Business Machines in the second quarter valued at $4,214,868,000. Bank of New York Mellon Corp purchased a new stake in International Business Machines during the 2nd quarter worth approximately $2,606,782,000. Norges Bank purchased a new stake in shares of International Business Machines during the fourth quarter worth $2,446,429,000. Finally, Legal & General Group Plc acquired a new position in International Business Machines during the 2nd quarter worth $1,874,733,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

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

Positive Sentiment: Lunar AI partnership with NASA: IBM and NASA released the open-source Lunar Foundation Model, trained on decades of lunar observation data. The model reportedly outperformed widely used mapping methods by up to 23% in identifying features such as ice deposits, craters and volcanic formations. The announcement strengthens IBM’s profile in scientific AI, although near-term revenue is likely limited. IBM and NASA Release Open-Source AI Model to Support Lunar Exploration Positive Sentiment: Swiss quantum-computing hub: IBM and Lockheed Martin are establishing a quantum innovation hub at ETH Zurich through Switzerland’s defense-offset program. The Swiss National Supercomputing Centre is expected to host the country’s first IBM Quantum System Two, powered by IBM’s Nighthawk r2 processor and integrated with the Alps supercomputer. The arrangement could provide IBM with a government-supported, multi-year deployment while expanding access to researchers and businesses. Research will focus on quantum sensing, navigation and advanced materials. IBM and Lockheed Martin Announce Swiss Quantum Innovation Hub Neutral Sentiment: Analyst coverage continues to frame IBM as a diversified way to gain exposure to enterprise AI, hybrid cloud and quantum computing. However, the announcements are primarily strategic and research-oriented, so their effect on revenue and earnings may take years to materialize. Negative Sentiment: IBM recently underperformed the broader market, while a shareholder-rights law firm announced an investigation tied to management’s prior preview of weak second-quarter 2026 results. The investigation is not an allegation of wrongdoing, but it adds headline and legal risk. IBM Shareholder Investigation Insider Buying and Selling In other news, SVP Robert Thomas sold 25,000 shares of International Business Machines stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $230.32, for a total transaction of $5,758,000.00. Following the sale, the senior vice president directly owned 47,800 shares of the company’s stock, valued at approximately $11,009,296. The trade was a 34.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.27% of the stock is owned by corporate insiders. Analyst Upgrades and Downgrades IBM has been the topic of several analyst reports. BMO Capital Markets reduced 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 report on Thursday, July 23rd. Barclays lowered their price target on shares of International Business Machines from $288.00 to $262.00 and set an “overweight” rating for the company in a report on Thursday, July 23rd. Jefferies Financial Group dropped their price objective on shares of International Business Machines from $320.00 to $260.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. HSBC set a $175.00 price objective on shares of International Business Machines and gave the stock a “reduce” rating in a research report on Thursday, July 16th. Finally, Piper Sandler raised International Business Machines to an “overweight” rating in a report on Tuesday, June 23rd. Sixteen investment 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 MarketBeat.com, International Business Machines currently has a consensus rating of “Moderate Buy” and a consensus target price of $265.90.

Read Our Latest Stock Analysis on International Business Machines

International Business Machines Stock Up 3.9% Shares of NYSE IBM opened at $243.14 on Friday. The firm has a market cap of $229.07 billion, a P/E ratio of 21.57, a price-to-earnings-growth ratio of 2.23 and a beta of 0.71. 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 1 year low of $199.19 and a 1 year high of $332.46. The firm’s 50 day moving average price is $236.88 and its 200 day moving average price is $246.36.

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

International Business Machines Announces Dividend The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Monday, August 10th were issued a $1.69 dividend. The ex-dividend date was Monday, August 10th. This represents a $6.76 dividend on an annualized basis and a yield of 2.8%. International Business Machines’s payout ratio is currently 59.98%.

International Business Machines Company Profile (Free Report)

International Business Machines Corporation (IBM) is a global technology and consulting company that provides enterprise-focused hardware, software and services. Its offerings include hybrid cloud solutions, artificial intelligence, data and automation software, cybersecurity tools, IT infrastructure and technology consulting.

IBM develops and supports enterprise systems such as IBM Z mainframes, Power servers and storage products. Its software portfolio includes Red Hat hybrid cloud technologies, the watsonx platform for artificial intelligence and data management, application integration tools and cybersecurity solutions.

See Also Five stocks we like better than International Business Machines Block Makes a Federal Trust Bank Move That Could Reshape Its Fintech Model Kroger’s Textbook Entry for Buy-and-Hold Investors AST SpaceMobile Looks to Extend Its 30-Day FCC Satellite Testing Window Amgen Drops 10% on a Trial It Didn’t Even Run Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Corporation (NYSE:IBM – Free Report).

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Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of International Business Machines Corporation (NYSE:IBM – Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,787 shares of the technology company’s stock, valued at approximately $1,627,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of International Business Machines during the second quarter valued at approximately $21,586,659,000. State Street Corp lifted its position in International Business Machines by 1.0% in the 4th quarter. State Street Corp now owns 54,996,293 shares of the technology company’s stock valued at $16,290,452,000 after acquiring an additional 518,321 shares in the last quarter. Geode Capital Management LLC boosted its stake in International Business Machines by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 22,605,083 shares of the technology company’s stock valued at $6,679,105,000 after purchasing an additional 336,069 shares during the last quarter. Capital World Investors boosted its stake in International Business Machines by 29.2% during the 4th quarter. Capital World Investors now owns 22,021,912 shares of the technology company’s stock valued at $6,523,720,000 after purchasing an additional 4,976,756 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of International Business Machines by 7.0% in the 1st quarter. Bank of America Corp DE now owns 16,063,653 shares of the technology company’s stock worth $3,893,669,000 after purchasing an additional 1,049,602 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Down 2.5% International Business Machines stock opened at $234.06 on Friday. International Business Machines Corporation has a one year low of $199.19 and a one year high of $332.46. The stock has a fifty day moving average of $237.79 and a 200 day moving average of $246.38. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.74 and a current ratio of 0.79. The stock has a market cap of $220.51 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 2.29 and a beta of 0.71.

International Business Machines (NYSE:IBM – Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.93. International Business Machines had a return on equity of 35.65% and a net margin of 15.52%.The business had revenue of $17.16 billion during the quarter, compared to the consensus estimate of $17.46 billion. During the same period in the previous year, the company posted $2.80 EPS. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. As a group, sell-side analysts predict that International Business Machines Corporation will post 12.33 EPS for the current year. International Business Machines Dividend Announcement The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Monday, August 10th were paid a $1.69 dividend. This represents a $6.76 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Monday, August 10th. International Business Machines’s dividend payout ratio is 59.98%.

Insider Buying and Selling In related news, SVP Robert Thomas sold 25,000 shares of International Business Machines stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $230.32, for a total transaction of $5,758,000.00. Following the transaction, the senior vice president directly owned 47,800 shares in the company, valued at approximately $11,009,296. The trade was a 34.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets Several equities research analysts recently commented on the company. Stifel Nicolaus dropped their price objective on International Business Machines from $290.00 to $235.00 and set a “buy” rating on the stock in a research report on Monday, July 20th. Wolfe Research lowered International Business Machines to a “peer perform” rating in a research report on Tuesday, June 23rd. Bank of America upped their target price on shares of International Business Machines from $315.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Robert W. Baird started coverage on shares of International Business Machines in a report on Tuesday, July 21st. They set a “neutral” rating and a $230.00 price target on the stock. Finally, Piper Sandler upgraded shares of International Business Machines to an “overweight” rating in a research note on Tuesday, June 23rd. Sixteen research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, International Business Machines presently has an average rating of “Moderate Buy” and an average price target of $265.90.

Read Our Latest Stock Analysis on International Business Machines

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

Positive Sentiment: IBM and Lockheed Martin announced a quantum innovation hub at ETH Zurich, supported by Switzerland’s defense-procurement offset program. The initiative will deploy Switzerland’s first IBM Quantum System Two at the Swiss National Supercomputing Centre, giving IBM a multi-year platform for quantum-computing research in areas such as sensing and advanced materials. IBM and Lockheed Martin Announce Swiss Quantum Innovation Hub Positive Sentiment: IBM and NASA released an open-source Lunar Foundation Model trained on extensive lunar-observation data. The model reportedly improves identification of lunar features, including potential ice deposits and craters, highlighting IBM’s AI capabilities and government-research relationships, although the near-term revenue impact is likely limited. IBM and NASA Release Open-Source AI Model Positive Sentiment: Market commentary continues to identify IBM as an established-company route to AI and quantum exposure, supported by its hybrid-cloud, enterprise-software and consulting businesses. A Cleveland Clinic, RIKEN and IBM team was also named a finalist for the ACM Gordon Bell Prize for quantum-centric supercomputing research. IBM Team Advances to Gordon Bell Prize Finals Neutral Sentiment: A shareholder-rights law firm announced an investigation into IBM related to its previously previewed second-quarter results. Such notices are often solicitation-driven and do not establish wrongdoing, but they can add headline and legal-risk pressure. Law Firm Investigation Report Negative Sentiment: IBM’s latest quarterly results showed earnings in line with estimates but revenue below expectations, reinforcing concerns that growth is modest. Analysts also continue to view competing AI-cloud names as having stronger near-term growth and momentum. Negative Sentiment: Investors remain focused on IBM’s earlier AI-security investment and whether related partnerships will translate into durable software revenue. Those questions, combined with a premium valuation and broader-market weakness, appear to have outweighed the longer-term quantum and AI announcements. IBM AI Security Investment International Business Machines Company Profile (Free Report)

International Business Machines Corporation (IBM) is a global technology and consulting company that provides enterprise-focused hardware, software and services. Its offerings include hybrid cloud solutions, artificial intelligence, data and automation software, cybersecurity tools, IT infrastructure and technology consulting.

IBM develops and supports enterprise systems such as IBM Z mainframes, Power servers and storage products. Its software portfolio includes Red Hat hybrid cloud technologies, the watsonx platform for artificial intelligence and data management, application integration tools and cybersecurity solutions.

Featured Articles Five stocks we like better than International Business Machines AeroVironment’s Record Backlog and Earnings Beat Fuel Recovery Case Corning Just Locked In a Massive Verizon Fiber Deal as AI Infrastructure Expands 3 Under-$20 Stocks Tied to the Future of U.S. Energy and Materials Uncle Sam’s Quantum Leap: Feds Fund a $300M Quantum Supercycle

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Equitable Holdings Inc. bought a new stake in shares of International Business Machines Corporation (NYSE:IBM – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 83,681 shares of the technology company’s stock, valued at approximately $23,532,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IBM. Basepoint Wealth LLC purchased a new position in International Business Machines during the 4th quarter valued at about $25,000. Portus Wealth Advisors LLC purchased a new stake in International Business Machines in the first quarter worth about $26,000. Harborfront Financial Group LLC purchased a new stake in International Business Machines in the second quarter worth about $27,000. Cornerstone Financial Management LLC bought a new position in shares of International Business Machines during the fourth quarter valued at approximately $28,000. Finally, Hara Capital LLC purchased a new position in shares of International Business Machines during the second quarter valued at approximately $28,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at International Business Machines In other news, SVP Robert Thomas sold 25,000 shares of the business’s stock in a transaction on Wednesday, August 26th. The stock was 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 in the company, valued at $11,009,296. The trade was a 34.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.27% of the stock is owned by corporate insiders.

Here are the key news stories impacting International Business Machines this week: Positive Sentiment: IBM and Lockheed Martin announced a quantum innovation hub at ETH Zurich, supported by Switzerland’s defense-procurement offset program. The initiative will deploy Switzerland’s first IBM Quantum System Two at the Swiss National Supercomputing Centre, giving IBM a multi-year platform for quantum-computing research in areas such as sensing and advanced materials. IBM and Lockheed Martin Announce Swiss Quantum Innovation Hub Positive Sentiment: IBM and NASA released an open-source Lunar Foundation Model trained on extensive lunar-observation data. The model reportedly improves identification of lunar features, including potential ice deposits and craters, highlighting IBM’s AI capabilities and government-research relationships, although the near-term revenue impact is likely limited. IBM and NASA Release Open-Source AI Model Positive Sentiment: Market commentary continues to identify IBM as an established-company route to AI and quantum exposure, supported by its hybrid-cloud, enterprise-software and consulting businesses. A Cleveland Clinic, RIKEN and IBM team was also named a finalist for the ACM Gordon Bell Prize for quantum-centric supercomputing research. IBM Team Advances to Gordon Bell Prize Finals Neutral Sentiment: A shareholder-rights law firm announced an investigation into IBM related to its previously previewed second-quarter results. Such notices are often solicitation-driven and do not establish wrongdoing, but they can add headline and legal-risk pressure. Law Firm Investigation Report Negative Sentiment: IBM’s latest quarterly results showed earnings in line with estimates but revenue below expectations, reinforcing concerns that growth is modest. Analysts also continue to view competing AI-cloud names as having stronger near-term growth and momentum. Negative Sentiment: Investors remain focused on IBM’s earlier AI-security investment and whether related partnerships will translate into durable software revenue. Those questions, combined with a premium valuation and broader-market weakness, appear to have outweighed the longer-term quantum and AI announcements. IBM AI Security Investment International Business Machines Trading Down 2.5% NYSE:IBM opened at $234.06 on Friday. The stock has a market cap of $220.51 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 2.29 and a beta of 0.71. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.63. The company’s 50 day moving average price is $237.79 and its 200-day moving average price is $246.38. International Business Machines Corporation has a 52 week low of $199.19 and a 52 week high of $332.46.

International Business Machines (NYSE:IBM – Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The technology company reported $2.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.93. The company had revenue of $17.16 billion during the quarter, compared to analyst estimates of $17.46 billion. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.80 EPS. On average, equities research analysts forecast that International Business Machines Corporation will post 12.33 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Monday, August 10th were issued a $1.69 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 2.9%. International Business Machines’s dividend payout ratio (DPR) is presently 59.98%.

Wall Street Analysts Forecast Growth A number of analysts have recently commented on the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $270.00 price target on shares of International Business Machines in a research report on Tuesday, July 21st. Needham & Company LLC assumed coverage on International Business Machines in a research note on Wednesday, June 3rd. They set a “buy” rating for the company. HSBC set a $175.00 target price on International Business Machines and gave the stock a “reduce” rating in a report on Thursday, July 16th. Roth Capital reissued a “buy” rating on shares of International Business Machines in a research note on Wednesday, June 3rd. Finally, Susquehanna raised their price target on International Business Machines from $225.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, August 31st. Sixteen investment 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $265.90.

View Our Latest Stock Report on IBM

International Business Machines Profile (Free Report)

International Business Machines Corporation (IBM) is a global technology and consulting company that provides enterprise-focused hardware, software and services. Its offerings include hybrid cloud solutions, artificial intelligence, data and automation software, cybersecurity tools, IT infrastructure and technology consulting.

IBM develops and supports enterprise systems such as IBM Z mainframes, Power servers and storage products. Its software portfolio includes Red Hat hybrid cloud technologies, the watsonx platform for artificial intelligence and data management, application integration tools and cybersecurity solutions.

See Also Five stocks we like better than International Business Machines AeroVironment’s Record Backlog and Earnings Beat Fuel Recovery Case Corning Just Locked In a Massive Verizon Fiber Deal as AI Infrastructure Expands 3 Under-$20 Stocks Tied to the Future of U.S. Energy and Materials Uncle Sam’s Quantum Leap: Feds Fund a $300M Quantum Supercycle Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Corporation (NYSE:IBM – Free Report).

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The open model strengthens IBM's scientific-AI credentials, but free availability limits immediate monetization. Summary

IBM has an impressive technical victory without a disclosed commercial payoff.

IBM IBM, the enterprise-technology and hybrid-cloud heavyweight, launched an open-source AI model with NASA Thursday to help scientists read the Moon's surface more precisely. The shares slipped approximately 0.8% to $238.14 during morning trading. According to Reuters, the model learned from more than 30 synchronized data layers gathered by nine instruments across four missions.

The numbers give the project real weight. IBM said the system mapped critical lunar features with up to 23% greater accuracy than established techniques, cut potential ice-location errors by as much as 22% and improved broader crater detection by nearly 19%. It achieved those results using only half as much training data. Better maps could help mission planners choose landing zones, locate resources and reduce uncertainty before expensive equipment ever leaves Earth.

The immediate business payoff remains less obvious because NASA is releasing the model, data and code for public use. Still, IBM gains a powerful showcase for applying its foundation-model technology far beyond conventional corporate workloads. The chart adds a modest valuation signal: IBM's $238.14 share price sits 1.83% below its $242.57 GF Value estimate. The discount is small, so the bigger question is whether IBM can turn scientific credibility into paid cloud, consulting and enterprise-AI contracts.

Disclosures I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.

Click for the complete disclosure

Canada Pension Plan Investment Board bought a new stake in International Business Machines Corporation (NYSE:IBM – Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,713,804 shares of the technology company’s stock, valued at approximately $481,939,000. Canada Pension Plan Investment Board owned 0.18% of International Business Machines as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of International Business Machines in the second quarter valued at approximately $21,586,659,000. State Street Corp raised its stake in International Business Machines by 1.0% in the 4th quarter. State Street Corp now owns 54,996,293 shares of the technology company’s stock valued at $16,290,452,000 after acquiring an additional 518,321 shares during the period. Geode Capital Management LLC lifted its holdings in International Business Machines by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 22,605,083 shares of the technology company’s stock valued at $6,679,105,000 after purchasing an additional 336,069 shares during the last quarter. Capital World Investors boosted its position in International Business Machines by 29.2% during the fourth quarter. Capital World Investors now owns 22,021,912 shares of the technology company’s stock worth $6,523,720,000 after purchasing an additional 4,976,756 shares during the period. Finally, Bank of America Corp DE boosted its position in International Business Machines by 7.0% during the first quarter. Bank of America Corp DE now owns 16,063,653 shares of the technology company’s stock worth $3,893,669,000 after purchasing an additional 1,049,602 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Down 1.2% Shares of NYSE IBM opened at $232.02 on Wednesday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.79 and a quick ratio of 0.74. International Business Machines Corporation has a 1 year low of $199.19 and a 1 year high of $332.46. The company has a 50 day simple moving average of $239.81 and a 200 day simple moving average of $246.65. The firm has a market cap of $218.59 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 2.24 and a beta of 0.71.

International Business Machines (NYSE:IBM – Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The technology company reported $2.93 EPS for the quarter, hitting analysts’ consensus estimates of $2.93. The company had revenue of $17.16 billion for the quarter, compared to analyst estimates of $17.46 billion. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. International Business Machines’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.80 earnings per share. On average, research analysts forecast that International Business Machines Corporation will post 12.33 EPS for the current year. International Business Machines Dividend Announcement The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, August 10th. International Business Machines’s dividend 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, Cleveland Clinic and Japan’s RIKEN advanced to the finals for the 2026 ACM Gordon Bell Prize after using quantum and classical computing to model a 12,635-atom protein. The achievement highlights IBM’s potential in quantum-centric supercomputing and life-sciences research. Cleveland Clinic, RIKEN and IBM Team Advance to Finals for 2026 ACM Gordon Bell Prize Positive Sentiment: An Evercore ISI analyst argued that IBM’s quantum-computing initiatives are effectively being valued at little or nothing in the current stock price, suggesting potential upside if the technology advances commercially. Is IBM’s selloff an opportunity? Here’s one case for the beaten-down stock. Neutral Sentiment: IBM shares were reported slightly higher ahead of the latest session, but the update offered no new fundamental catalyst. A separate comparison of IBM and Applied Digital focused on financial metrics rather than a specific IBM business development. IBM stock heads into the open after a 0.08 percent gain Negative Sentiment: The main pressure remains concern over a slowdown in IBM Z product activity. The resulting selloff prompted a securities-law investigation announcement, reinforcing investor worries about demand and execution in IBM’s core infrastructure business. IBM Shares Fall Following IBM Z Product Slowdown Negative Sentiment: Evercore warned that capital moving into anticipated AI initial public offerings could lead investors to sell existing holdings, placing IBM among stocks vulnerable to portfolio rotation. Evercore Warns AI IPOs Could Pressure IBM Analyst Ratings Changes Several equities analysts have recently weighed in on IBM shares. Robert W. Baird assumed coverage on shares of International Business Machines in a research report on Tuesday, July 21st. They issued a “neutral” rating and a $230.00 price objective on the stock. Wolfe Research lowered shares of International Business Machines to a “peer perform” rating in a research note on Tuesday, June 23rd. The Goldman Sachs Group set a $270.00 price objective on shares of International Business Machines in a research report on Thursday, July 23rd. Needham & Company LLC began coverage on International Business Machines in a report on Wednesday, June 3rd. They set a “buy” rating for the company. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of International Business Machines in a research note on Thursday, July 16th. Sixteen equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $265.90.

Get Our Latest Analysis on International Business Machines

Insider Buying and Selling In other news, SVP Robert Thomas sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $230.32, for a total transaction of $5,758,000.00. Following the completion of the sale, the senior vice president owned 47,800 shares in the company, valued at $11,009,296. The trade was a 34.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.27% of the company’s stock.

(Free Report)

International Business Machines Corporation (IBM) is a global technology and consulting company that provides enterprise-focused hardware, software and services. Its offerings include hybrid cloud solutions, artificial intelligence, data and automation software, cybersecurity tools, IT infrastructure and technology consulting.

IBM develops and supports enterprise systems such as IBM Z mainframes, Power servers and storage products. Its software portfolio includes Red Hat hybrid cloud technologies, the watsonx platform for artificial intelligence and data management, application integration tools and cybersecurity solutions.

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Jupiter Topco LLC purchased a new stake in shares of International Business Machines Corporation (NYSE:IBM – Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 141,630 shares of the technology company’s stock, valued at approximately $39,838,000.

Other institutional investors have also recently modified their holdings of the company. Basepoint Wealth LLC acquired a new position in International Business Machines during the fourth quarter valued at $25,000. Portus Wealth Advisors LLC purchased a new stake in shares of International Business Machines in the first quarter valued at approximately $26,000. Harborfront Financial Group LLC purchased a new stake in International Business Machines in the 2nd quarter worth $27,000. Cornerstone Financial Management LLC acquired a new position in shares of International Business Machines during the 4th quarter worth about $28,000. Finally, Hara Capital LLC acquired a new position in shares of International Business Machines during the second quarter valued at approximately $28,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

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

Positive Sentiment: IBM, Cleveland Clinic and Japan’s RIKEN advanced to the finals for the 2026 ACM Gordon Bell Prize after using quantum and classical computing to model a 12,635-atom protein. The achievement highlights IBM’s potential in quantum-centric supercomputing and life-sciences research. Cleveland Clinic, RIKEN and IBM Team Advance to Finals for 2026 ACM Gordon Bell Prize Positive Sentiment: An Evercore ISI analyst argued that IBM’s quantum-computing initiatives are effectively being valued at little or nothing in the current stock price, suggesting potential upside if the technology advances commercially. Is IBM’s selloff an opportunity? Here’s one case for the beaten-down stock. Neutral Sentiment: IBM shares were reported slightly higher ahead of the latest session, but the update offered no new fundamental catalyst. A separate comparison of IBM and Applied Digital focused on financial metrics rather than a specific IBM business development. IBM stock heads into the open after a 0.08 percent gain Negative Sentiment: The main pressure remains concern over a slowdown in IBM Z product activity. The resulting selloff prompted a securities-law investigation announcement, reinforcing investor worries about demand and execution in IBM’s core infrastructure business. IBM Shares Fall Following IBM Z Product Slowdown Negative Sentiment: Evercore warned that capital moving into anticipated AI initial public offerings could lead investors to sell existing holdings, placing IBM among stocks vulnerable to portfolio rotation. Evercore Warns AI IPOs Could Pressure IBM International Business Machines Price Performance Shares of NYSE:IBM opened at $232.02 on Wednesday. The company has a 50-day moving average price of $239.81 and a 200 day moving average price of $246.65. International Business Machines Corporation has a 52 week low of $199.19 and a 52 week high of $332.46. The company has a market cap of $218.59 billion, a P/E ratio of 20.59, a PEG ratio of 2.24 and a beta of 0.71. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.63. International Business Machines (NYSE:IBM – Get Free Report) last posted its quarterly earnings results 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 company had revenue of $17.16 billion during the quarter, compared to the consensus estimate of $17.46 billion. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period last year, the firm earned $2.80 EPS. Research analysts predict that International Business Machines Corporation will post 12.33 earnings per share for the current year.

International Business Machines Dividend Announcement The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 10th will be issued a $1.69 dividend. The ex-dividend date is Monday, August 10th. This represents a $6.76 annualized dividend and a yield of 2.9%. International Business Machines’s payout ratio is 59.98%.

Insiders Place Their Bets In other International Business Machines news, SVP Robert Thomas sold 25,000 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $230.32, for a total transaction of $5,758,000.00. Following the transaction, the senior vice president owned 47,800 shares of the company’s stock, valued at $11,009,296. This trade represents a 34.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades IBM has been the topic of a number of research reports. JPMorgan Chase & Co. decreased their target price on shares of International Business Machines from $291.00 to $250.00 and set an “overweight” rating on the stock in a research note on Friday, July 17th. Wolfe Research cut shares of International Business Machines to a “peer perform” rating in a research report on Tuesday, June 23rd. Needham & Company LLC started coverage on International Business Machines in a research note on Wednesday, June 3rd. They set a “buy” rating on the stock. BMO Capital Markets cut their price target on International Business Machines from $270.00 to $230.00 and set a “market perform” rating on the stock in a report on Thursday, July 23rd. Finally, Wedbush set a $350.00 price objective on shares of International Business Machines in a research report on Tuesday, June 2nd. Sixteen equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $265.90.

View Our Latest Stock Analysis on International Business Machines

(Free Report)

International Business Machines Corporation (IBM) is a global technology and consulting company that provides enterprise-focused hardware, software and services. Its offerings include hybrid cloud solutions, artificial intelligence, data and automation software, cybersecurity tools, IT infrastructure and technology consulting.

IBM develops and supports enterprise systems such as IBM Z mainframes, Power servers and storage products. Its software portfolio includes Red Hat hybrid cloud technologies, the watsonx platform for artificial intelligence and data management, application integration tools and cybersecurity solutions.

Read More Five stocks we like better than International Business Machines Tesla’s Robotaxi Launch Wasn’t the Moment Investors Expected Despite Post-Earnings Drop, Wall Street Analysts Eye New Highs for Broadcom Stock Morgan Stanley Eyes Good Things Ahead for Meta After $18 Billion Legal Settlement Q3 Earnings Could Be the Catalyst the Market Has Been Waiting For Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Corporation (NYSE:IBM – Free Report).

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