Exchange Traded Concepts LLC Acquires 53,957 Shares of International Business Machines Corporation $IBM

Key Points

• Exchange Traded Concepts LLC significantly increased its holdings in International Business Machines Corporation by 308.6% during Q2, owning 71,442 shares worth approximately $21.06 million.
• IBM reported better than expected quarterly earnings of $2.80 EPS, surpassing analysts' estimates by $0.15, and had revenue of $16.98 billion, up 7.7% year-over-year.
• The company declared a quarterly dividend of $1.68 per share, representing an annualized dividend of $6.72 and a yield of 2.6%.

Exchange Traded Concepts LLC grew its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 308.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 71,442 shares of the technology company's stock after buying an additional 53,957 shares during the quarter. Exchange Traded Concepts LLC's holdings in International Business Machines were worth $21,060,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Christopher J. Hasenberg Inc purchased a new stake in International Business Machines during the first quarter worth about $27,000. SSA Swiss Advisors AG purchased a new stake in International Business Machines during the first quarter worth about $28,000. Dagco Inc. purchased a new stake in International Business Machines during the first quarter worth about $31,000. Silicon Valley Capital Partners increased its holdings in International Business Machines by 322.6% during the first quarter. Silicon Valley Capital Partners now owns 131 shares of the technology company's stock worth $32,000 after buying an additional 100 shares during the last quarter. Finally, Compass Financial Services Inc increased its holdings in International Business Machines by 41.5% during 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 own 58.96% of the company's stock.

International Business Machines Stock Up 0.8%

Shares of NYSE:IBM traded up $2.19 during midday trading on Friday, reaching $267.19. The company's stock had a trading volume of 9,852,135 shares, compared to its average volume of 3,792,223. The firm has a 50 day moving average of $254.82 and a 200-day moving average of $257.25. The firm has a market capitalization of $248.33 billion, a P/E ratio of 43.38, a PEG ratio of 4.10 and a beta of 0.71. 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 12-month low of $203.51 and a 12-month high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last released its 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. The firm had revenue of $16.98 billion for the quarter, compared to the consensus estimate 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 was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.43 EPS. International Business Machines has set its FY 2025 guidance at EPS. On average, research analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were paid a dividend of $1.68 per share. The ex-dividend date was Friday, August 8th. This represents a $6.72 annualized dividend and a yield of 2.5%. International Business Machines's dividend payout ratio is currently 109.09%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. BMO Capital Markets lifted their target price on shares of International Business Machines from $260.00 to $300.00 and gave the stock a "market perform" rating in a research note on Friday, July 18th. Melius Research upgraded shares of International Business Machines to a "strong-buy" rating in a research note on Monday, July 7th. Sanford C. Bernstein began coverage on shares of 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. Royal Bank Of Canada boosted their price objective on shares of International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Finally, Wedbush boosted their price objective on shares of International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target 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.