Concord Asset Management LLC VA Increases Stock Position in International Business Machines Corporation $IBM

Key Points

• Concord Asset Management LLC VA increased its stock position in International Business Machines Corporation (IBM) by 60.8%, owning 6,204 shares valued at approximately $1.83 million after purchasing an additional 2,345 shares in the second quarter.
• Research analysts have been bullish on IBM, with JPMorgan raising their price target from $244.00 to $290.00 and Goldman Sachs lifting theirs from $270.00 to $310.00, indicating a mixed consensus rating of "Hold" among multiple ratings.
• IBM reported a 7.7% revenue increase year-over-year in its recent quarter, posting earnings of $2.80 per share, which exceeded the analyst consensus of $2.65.

Concord Asset Management LLC VA grew its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 60.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,204 shares of the technology company's stock after purchasing an additional 2,345 shares during the quarter. Concord Asset Management LLC VA's holdings in International Business Machines were worth $1,829,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. GQG Partners LLC acquired a new position in shares of International Business Machines during the first quarter valued at about $1,040,057,000. Nuveen LLC purchased a new position in shares of International Business Machines in the 1st quarter valued at approximately $960,386,000. Vanguard Group Inc. raised its position in shares of International Business Machines by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 93,137,767 shares of the technology company's stock valued at $23,159,637,000 after purchasing an additional 1,298,515 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of International Business Machines by 41.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,164,987 shares of the technology company's stock valued at $787,007,000 after purchasing an additional 930,448 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of International Business Machines by 20.8% in the first quarter. Goldman Sachs Group Inc. now owns 5,157,846 shares of the technology company's stock worth $1,282,550,000 after buying an additional 889,008 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of International Business Machines from $244.00 to $290.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of International Business Machines in a report on Wednesday, October 8th. The Goldman Sachs Group raised their price target on shares of International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. BMO Capital Markets raised their price target on shares of International Business Machines from $260.00 to $300.00 and gave the stock a "market perform" rating in a report on Friday, July 18th. Finally, UBS Group raised their price target on shares of International Business Machines from $195.00 to $200.00 and gave the stock a "sell" rating in a report on Thursday, July 24th. 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 given a Sell rating to the company. According to data from MarketBeat.com, International Business Machines has a consensus rating of "Hold" and an average price target of $284.62.

International Business Machines Stock Down 3.5%

IBM stock opened at $278.09 on Monday. The firm's fifty day moving average is $258.19 and its 200 day moving average is $260.78. International Business Machines Corporation has a one year low of $203.51 and a one year high of $301.04. The firm has a market cap of $258.45 billion, a PE ratio of 45.14, a P/E/G ratio of 4.28 and a beta of 0.73. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91.

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

International Business Machines Announces Dividend

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