5 Best Blockchain Stocks To Buy Now

In this article, we discuss 5 best blockchain stocks to buy now. If you want to see more stocks in this selection, check out 12 Best Blockchain Stocks To Buy Now. 

5. International Business Machines Corporation (NYSE:IBM)

Number of Hedge Fund Holders: 40

International Business Machines Corporation (NYSE:IBM) provides integrated technology solutions and services worldwide. IBM Blockchain allows reliable data exchange and workflow automation with distributed ledger technology. On October 25, the company declared a quarterly dividend of $1.65 per share, in line with previous. The dividend is payable on December 10, to shareholders of record on November 10. IBM’s dividend yield on December 2 came in at 4.46%. 

On October 17, Stifel analyst David Grossman reiterated a Buy recommendation on International Business Machines Corporation (NYSE:IBM) but trimmed the price target on the shares to $140 from $150. International Business Machines Corporation (NYSE:IBM) is defensive and likely impacted less than most large-cap tech, but not immune to the weak GDP growth, the analyst told investors. 

According to Insider Monkey’s data, 40 hedge funds were bullish on International Business Machines Corporation (NYSE:IBM) at the end of September 2022, and Arrowstreet Capital held the leading stake in the company, consisting of 4.3 million shares worth $515.7 million. 

In its Q1 2022 investor letter, St. James Investment Company, an asset management firm, highlighted a few stocks and International Business Machines Corporation (NYSE:IBM) was one of them. Here is what the fund said:

“IBM was not the first company to build computers. The distinction belongs to Sperry-Rand’s subsidiary UNIVAC, which introduced the first commercially successful computers in the early 1950s. In this era, IBM did possess the largest research and development department of the business machines industry and quickly caught up, introducing cost-competitive computers a few years after UNIVAC. By the late 1950s, IBM held the dominant market share in computers. IBM also touted a vastly superior sales organization, which used a sales tactic called “paper machines” (the equivalent of today’s “vaporware”). If a competitor’s product was selling well in a market segment that IBM had yet to penetrate, the company would announce a competing product and start taking orders for the “paper machine” long before it was available. (read more)