Ascent Group LLC Acquires 2,190 Shares of International Business Machines Corporation $IBM

Key Points

• Ascent Group LLC increased its holdings in International Business Machines Corporation (IBM) by 14.8%, acquiring an additional 2,190 shares, bringing its total to 16,998 shares valued at approximately $4.23 million.
• Several hedge funds, including Christopher J. Hasenberg Inc and SSA Swiss Advisors AG, have made new investments in IBM, indicating significant interest among institutional investors who now own nearly 59% of the company.
• IBM's recent earnings report surpassed analysts' expectations with an EPS of $2.80 and revenue of $16.98 billion, leading to an increased average target price of around $268.75 from various analysts.

Ascent Group LLC grew its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 14.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,998 shares of the technology company's stock after purchasing an additional 2,190 shares during the period. Ascent Group LLC's holdings in International Business Machines were worth $4,227,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Christopher J. Hasenberg Inc purchased a new position in International Business Machines during the first quarter valued at approximately $27,000. SSA Swiss Advisors AG purchased a new position in International Business Machines during the first quarter valued at approximately $28,000. Dagco Inc. purchased a new position in International Business Machines during the first quarter valued at approximately $31,000. Measured Risk Portfolios Inc. purchased a new position in International Business Machines during the fourth quarter valued at approximately $43,000. Finally, Park Square Financial Group LLC purchased a new position in International Business Machines during the fourth quarter valued at approximately $43,000. Institutional investors own 58.96% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on IBM shares. Wedbush boosted their price objective on shares of International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a research note on Friday, June 20th. Bank of America reduced their price objective on shares of International Business Machines from $320.00 to $310.00 and set a "buy" rating for the company in a research note on Thursday, July 24th. JPMorgan Chase & Co. boosted their price objective on shares of International Business Machines from $244.00 to $290.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. UBS Group boosted their price target on shares of International Business Machines from $195.00 to $200.00 and gave the stock a "sell" rating in a research note on Thursday, July 24th. Finally, Melius Research raised shares of International Business Machines to a "strong-buy" rating in a report on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, International Business Machines currently has a consensus rating of "Hold" and an average target price of $268.75.

International Business Machines Stock Performance

NYSE IBM opened at $256.20 on Tuesday. International Business Machines Corporation has a 52-week low of $201.43 and a 52-week high of $296.16. 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 company has a market capitalization of $238.11 billion, a P/E ratio of 41.59, a P/E/G ratio of 3.83 and a beta of 0.71. The company has a fifty day moving average of $260.31 and a 200-day moving average of $256.97.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.65 by $0.15. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The company had revenue of $16.98 billion during the quarter, compared to analysts' expectations of $16.58 billion. During the same quarter in the prior year, the company earned $2.43 EPS. The firm's revenue was up 7.7% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th will be paid a $1.68 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.6%. International Business Machines's dividend payout ratio is 109.09%.

International Business Machines 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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