Cove Private Wealth LLC Makes New $390,000 Investment in International Business Machines Corporation $IBM

Key Points

• Cove Private Wealth LLC made a new investment of $390,000 in International Business Machines Corporation (IBM) by purchasing 1,324 shares.
• IBM reported $16.98 billion in revenue for the last quarter, which exceeded analyst estimates, and earnings per share (EPS) of $2.80, surpassing expectations by $0.15.
• The company recently announced a quarterly dividend of $1.68 per share, resulting in an annualized dividend yield of 2.4%, though the payout ratio is notably high at 109.09%.

Cove Private Wealth LLC bought a new position in International Business Machines Corporation (NYSE:IBM - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 1,324 shares of the technology company's stock, valued at approximately $390,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Christopher J. Hasenberg Inc bought a new stake in shares of International Business Machines during the 1st quarter valued at about $27,000. SSA Swiss Advisors AG bought a new position in shares of International Business Machines in the first quarter valued at approximately $28,000. Dagco Inc. purchased a new stake in shares of International Business Machines during the first quarter valued at approximately $31,000. Silicon Valley Capital Partners increased its position in shares of International Business Machines by 322.6% during the first quarter. Silicon Valley Capital Partners now owns 131 shares of the technology company's stock valued at $32,000 after acquiring an additional 100 shares during the last quarter. Finally, Compass Financial Services Inc increased its position in International Business Machines by 41.5% in the first quarter. Compass Financial Services Inc now owns 167 shares of the technology company's stock worth $42,000 after buying an additional 49 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Price Performance

Shares of IBM opened at $284.72 on Friday. The firm has a market cap of $264.62 billion, a PE ratio of 46.22, a P/E/G ratio of 4.33 and a beta of 0.71. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00. The firm has a fifty day simple moving average of $254.07 and a two-hundred day simple moving average of $257.97. International Business Machines Corporation has a 1-year low of $203.51 and a 1-year high of $296.16.

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

International Business Machines Announces Dividend

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

Wall Street Analyst Weigh In

IBM has been the subject of several research analyst reports. Sanford C. Bernstein initiated coverage on International Business Machines in a research note on Monday, September 15th. They set a "market perform" rating and a $280.00 price objective for the company. Wedbush lifted their price objective on International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. Erste Group Bank downgraded International Business Machines from a "buy" rating to a "hold" rating in a report on Thursday, August 14th. Royal Bank Of Canada boosted their price target on International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Finally, UBS Group boosted their price target on International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $275.00.

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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