Axxcess Wealth Management LLC Increases Holdings in International Business Machines Corporation $IBM

Key Points

• Axxcess Wealth Management LLC increased its stake in International Business Machines Corporation (IBM) by 101.8%, now holding 42,649 shares worth approximately $12.57 million.
• IBM recently reported quarterly earnings of $2.80 per share, surpassing analysts' expectations, and announced a quarterly dividend of $1.68 per share, reflecting a 2.4% yield.
• Institutional investors now own 58.96% of IBM's stock, indicating strong confidence in the company among larger investment firms.

Axxcess Wealth Management LLC increased its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 101.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,649 shares of the technology company's stock after purchasing an additional 21,518 shares during the period. Axxcess Wealth Management LLC's holdings in International Business Machines were worth $12,572,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. MinichMacGregor Wealth Management LLC acquired a new position in shares of International Business Machines during the 1st quarter worth approximately $396,000. Brooklyn Investment Group raised its position in shares of International Business Machines by 32.7% during the 1st quarter. Brooklyn Investment Group now owns 6,622 shares of the technology company's stock worth $1,647,000 after purchasing an additional 1,630 shares during the last quarter. Edgar Lomax Co. VA raised its position in shares of International Business Machines by 5.7% during the 1st quarter. Edgar Lomax Co. VA now owns 235,967 shares of the technology company's stock worth $58,676,000 after purchasing an additional 12,690 shares during the last quarter. Left Brain Wealth Management LLC raised its position in shares of International Business Machines by 1,547.8% during the 1st quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company's stock worth $4,392,000 after purchasing an additional 16,592 shares during the last quarter. Finally, Alpha Cubed Investments LLC raised its position in shares of International Business Machines by 47.0% during the 1st quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company's stock worth $1,867,000 after purchasing an additional 2,399 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Trading Down 0.2%

IBM stock opened at $277.21 on Tuesday. The business has a fifty day simple moving average of $258.69 and a 200-day simple moving average of $261.01. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. International Business Machines Corporation has a 52 week low of $203.51 and a 52 week high of $301.04. The company has a market cap of $257.64 billion, a price-to-earnings ratio of 45.00, a PEG ratio of 4.28 and a beta of 0.73.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, topping 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 firm had revenue of $16.98 billion during the quarter, compared to analysts' expectations of $16.58 billion. During the same period 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. On average, equities research analysts expect that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were given a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Friday, August 8th. International Business Machines's dividend payout ratio is 109.09%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Weiss Ratings restated a "hold (c+)" rating on shares of International Business Machines in a research report on Wednesday, October 8th. The Goldman Sachs Group raised their price objective on International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Stifel Nicolaus raised their price objective on International Business Machines from $290.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Melius Research upgraded International Business Machines to a "strong-buy" rating in a report on Monday, July 7th. Finally, Wall Street Zen upgraded International Business Machines from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, International Business Machines has a consensus rating of "Hold" and an average price target of $284.62.

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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