Apollon Wealth Management LLC Grows Position in International Business Machines Corporation $IBM

Key Points

• Apollon Wealth Management LLC increased its stake in International Business Machines Corporation (IBM) by 53.2% during the second quarter, now holding nearly 88,000 shares worth approximately $25.9 million.
• Wall Street analysts have raised their target prices for IBM, with JPMorgan Chase increasing it from $244 to $290, while Bank of America lowered its target from $320 to $310.
• IBM reported earnings per share of $2.80 for the last quarter, surpassing analyst expectations, with a year-over-year revenue increase of 7.7%.

Apollon Wealth Management LLC grew its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 53.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 87,992 shares of the technology company's stock after purchasing an additional 30,544 shares during the period. Apollon Wealth Management LLC's holdings in International Business Machines were worth $25,938,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Family CFO Inc purchased a new stake in International Business Machines in the 2nd quarter worth approximately $25,000. Christopher J. Hasenberg Inc purchased a new stake in International Business Machines in the 1st quarter worth approximately $27,000. SSA Swiss Advisors AG purchased a new position in shares of International Business Machines during the 1st quarter valued at approximately $28,000. Dagco Inc. purchased a new position in shares of International Business Machines during the 1st quarter valued at approximately $31,000. Finally, Silicon Valley Capital Partners lifted its position in shares of International Business Machines by 322.6% during the 1st quarter. Silicon Valley Capital Partners now owns 131 shares of the technology company's stock valued at $32,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on IBM shares. JPMorgan Chase & Co. increased their target price on International Business Machines from $244.00 to $290.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Sanford C. Bernstein started coverage on International Business Machines in a research report on Monday, September 15th. They set a "market perform" rating and a $280.00 target price on the stock. Melius Research upgraded International Business Machines to a "strong-buy" rating in a research report on Monday, July 7th. Wall Street Zen upgraded International Business Machines from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Bank of America decreased their target price on International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a research report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $284.62.

International Business Machines Trading Down 3.5%

Shares of IBM stock opened at $278.09 on Friday. The stock's fifty day moving average is $258.19 and its two-hundred day moving average is $260.60. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. The firm has a market capitalization of $258.45 billion, a P/E ratio of 45.14, a PEG ratio of 4.44 and a beta of 0.73. International Business Machines Corporation has a fifty-two week low of $203.51 and a fifty-two week high of $301.04.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, beating analysts' consensus estimates of $2.65 by $0.15. The company had revenue of $16.98 billion for the quarter, compared to analyst estimates of $16.58 billion. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.The firm's revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.43 EPS. International Business Machines has set its FY 2025 guidance at EPS. Research analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were issued a $1.68 dividend. The ex-dividend date was Friday, August 8th. This represents a $6.72 dividend on an annualized basis and a yield of 2.4%. International Business Machines's dividend payout ratio (DPR) is presently 109.09%.

International Business Machines Company Profile

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

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