Geneos Wealth Management Inc. Acquires 1,020 Shares of International Business Machines Corporation $IBM

Key Points

• Geneos Wealth Management Inc. increased its IBM shareholding by 8.3%, now owning 13,327 shares valued at approximately $3,314,000.
• IBM's analysts have mixed ratings, with one strong buy, seven buy, nine hold, and one sell, while the stock has a consensus rating of hold and an average target price of $270.67.
• The company reported quarterly earnings of $2.80 per share, exceeding expectations, and set a dividend of $1.68 paid quarterly, reflecting a 2.6% dividend yield.

Geneos Wealth Management Inc. lifted its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 8.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,327 shares of the technology company's stock after purchasing an additional 1,020 shares during the quarter. Geneos Wealth Management Inc.'s holdings in International Business Machines were worth $3,314,000 as of its most recent SEC filing.

Other hedge funds 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 $396,000. Brooklyn Investment Group increased its stake 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 increased its stake 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 increased its stake 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 grew its stake in International Business Machines by 47.0% in the 1st quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company's stock valued at $1,867,000 after buying an additional 2,399 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

Analysts Set New Price Targets

IBM has been the topic of a number of research analyst reports. BMO Capital Markets raised their target price on shares of International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a research note on Friday, July 18th. Stifel Nicolaus raised their target price on shares of International Business Machines from $290.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Wedbush raised their target price on shares of International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a research note on Friday, June 20th. UBS Group raised their target price on shares of International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a research note on Thursday, July 24th. Finally, Royal Bank Of Canada raised their target price 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. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $270.67.

International Business Machines Stock Performance

International Business Machines stock traded down $3.55 during mid-day trading on Friday, reaching $253.46. The company had a trading volume of 3,430,296 shares, compared to its average volume of 3,708,693. 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 $296.16. The company has a 50 day moving average of $257.59 and a 200-day moving average of $256.93. The firm has a market cap of $235.57 billion, a price-to-earnings ratio of 41.15, a PEG ratio of 3.96 and a beta of 0.71.

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 for the quarter, beating 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 the consensus estimate of $16.58 billion. During the same period in the prior year, the firm earned $2.43 EPS. The business'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, sell-side analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, August 8th. 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.