AssuredPartners Investment Advisors LLC lessened its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 60.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,628 shares of the technology company's stock after selling 2,464 shares during the quarter. AssuredPartners Investment Advisors LLC's holdings in International Business Machines were worth $480,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. MinichMacGregor Wealth Management LLC bought a new stake in International Business Machines in the 1st quarter worth approximately $396,000. Brooklyn Investment Group lifted its position in International Business Machines by 32.7% in the 1st quarter. Brooklyn Investment Group now owns 6,622 shares of the technology company's stock worth $1,647,000 after buying an additional 1,630 shares during the last quarter. Edgar Lomax Co. VA lifted its position in International Business Machines by 5.7% in the 1st quarter. Edgar Lomax Co. VA now owns 235,967 shares of the technology company's stock worth $58,676,000 after buying an additional 12,690 shares during the last quarter. Left Brain Wealth Management LLC lifted its position in International Business Machines by 1,547.8% in the 1st quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company's stock worth $4,392,000 after buying an additional 16,592 shares during the last quarter. Finally, Alpha Cubed Investments LLC lifted its position in International Business Machines by 47.0% in the 1st quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company's stock worth $1,867,000 after buying an additional 2,399 shares during the last quarter. Institutional investors own 58.96% of the company's stock.
International Business Machines Price Performance
Shares of International Business Machines stock opened at $280.95 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. The company has a market cap of $261.12 billion, a PE ratio of 45.61, a P/E/G ratio of 4.24 and a beta of 0.73. The business has a 50 day moving average of $261.07 and a 200 day moving average of $261.65. International Business Machines Corporation has a 52 week low of $203.51 and a 52 week high of $301.04.
International Business Machines (NYSE:IBM - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, beating analysts' consensus estimates of $2.65 by $0.15. The company had revenue of $16.98 billion during the quarter, compared to the consensus estimate 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 in the prior year, the company earned $2.43 earnings per share. International Business Machines has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current year.
International Business Machines Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Friday, August 8th. International Business Machines's dividend payout ratio is currently 109.09%.
Analysts Set New Price Targets
IBM has been the subject of a number of recent research reports. Wedbush boosted their target price on International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research report on Friday, June 20th. Wall Street Zen downgraded International Business Machines from a "buy" rating to a "hold" rating in a research report on Saturday. Erste Group Bank downgraded International Business Machines from a "buy" rating to a "hold" rating in a research report on Thursday, August 14th. Sanford C. Bernstein assumed coverage on International Business Machines in a research report on Monday, September 15th. They issued a "market perform" rating and a $280.00 price objective for the company. Finally, The Goldman Sachs Group boosted their price objective on International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, International Business Machines presently has a consensus rating of "Hold" and a consensus target price of $286.38.
Check Out Our Latest Research Report on IBM
About International Business Machines
(
Free Report)
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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