Destiny Wealth Partners LLC Makes New $276,000 Investment in International Business Machines Corporation $IBM

Key Points

• Destiny Wealth Partners LLC invested approximately $276,000 in International Business Machines Corporation (IBM) by acquiring 936 shares in the second quarter of 2023.
• Both GAMMA Investing LLC and GQG Partners LLC significantly increased their stakes in IBM, with GAMMA growing its holdings by over 29,500% in the first quarter.
• Recent analyst ratings for IBM depict a mixed sentiment, with targets ranging from $270 to $325, while the stock currently has a consensus rating of "Hold" and an average target price of $275.

Destiny Wealth Partners LLC purchased a new position in International Business Machines Corporation (NYSE:IBM - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 936 shares of the technology company's stock, valued at approximately $276,000.

Several other institutional investors also recently modified their holdings of the business. GAMMA Investing LLC grew its stake in shares of International Business Machines by 29,564.2% in the first quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock worth $10,940,520,000 after acquiring an additional 4,384,958 shares during the period. GQG Partners LLC purchased a new stake in International Business Machines in the first quarter worth approximately $1,040,057,000. Nuveen LLC bought a new stake in International Business Machines in the 1st quarter worth approximately $960,386,000. Vanguard Group Inc. raised its stake in International Business Machines by 1.4% during 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 buying an additional 1,298,515 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of International Business Machines by 41.6% during 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 buying an additional 930,448 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IBM has been the subject of several research analyst reports. The Goldman Sachs Group lifted 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. Sanford C. Bernstein began coverage on International Business Machines in a research report on Monday, September 15th. They issued a "market perform" rating and a $280.00 target price on the stock. Wedbush upped their price target on shares of International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a research report on Friday, June 20th. Wall Street Zen upgraded shares of International Business Machines from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Erste Group Bank lowered shares of International Business Machines from a "buy" rating to a "hold" rating in a research report on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $275.00.

International Business Machines Trading Up 5.3%

Shares of IBM stock opened at $281.76 on Friday. The stock has a fifty day simple moving average of $254.09 and a two-hundred day simple moving average of $257.72. International Business Machines Corporation has a 52-week low of $203.51 and a 52-week high of $296.16. The firm has a market capitalization of $261.86 billion, a PE ratio of 45.74, a PEG ratio of 4.12 and a beta of 0.71. 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 released its quarterly earnings data 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. The firm had revenue of $16.98 billion during the quarter, compared to analyst estimates of $16.58 billion. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.The business's quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.43 earnings per share. International Business Machines has set its FY 2025 guidance at EPS. On average, analysts predict that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business 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 annualized dividend and a dividend yield of 2.4%. International Business Machines's dividend payout ratio (DPR) is presently 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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