Legacy Financial Strategies LLC Grows Stake in International Business Machines Corporation $IBM

Key Points

• Legacy Financial Strategies LLC significantly increased its holdings in IBM by 150.6%, owning 2,503 shares valued at $738,000 as of the end of the last quarter.
• IBM recently reported quarterly earnings of $2.80 per share, exceeding expectations, with revenue growth of 7.7% year-over-year.
• The company declared a quarterly dividend of $1.68 per share, resulting in an annualized dividend yield of 2.5%, despite a high payout ratio of 109.09%.

Legacy Financial Strategies LLC lifted its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 150.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,503 shares of the technology company's stock after purchasing an additional 1,504 shares during the quarter. Legacy Financial Strategies LLC's holdings in International Business Machines were worth $738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Brighton Jones LLC increased its position in International Business Machines by 12.4% during the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock valued at $4,619,000 after acquiring an additional 2,323 shares during the last quarter. Inspire Trust Co. N.A. boosted its stake in shares of International Business Machines by 2.9% in the fourth quarter. Inspire Trust Co. N.A. now owns 17,000 shares of the technology company's stock worth $3,737,000 after acquiring an additional 475 shares during the period. Cornerstone Advisory LLC boosted its stake in shares of International Business Machines by 10.3% in the fourth quarter. Cornerstone Advisory LLC now owns 3,523 shares of the technology company's stock worth $774,000 after acquiring an additional 329 shares during the period. Retirement Planning Group LLC boosted its stake in International Business Machines by 25.7% during the fourth quarter. Retirement Planning Group LLC now owns 3,515 shares of the technology company's stock valued at $773,000 after buying an additional 719 shares during the last quarter. Finally, Vise Technologies Inc. boosted its stake in International Business Machines by 23.3% during the fourth quarter. Vise Technologies Inc. now owns 17,898 shares of the technology company's stock valued at $3,935,000 after buying an additional 3,380 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

International Business Machines Trading Up 2.1%

Shares of NYSE:IBM traded up $5.47 during trading on Monday, hitting $271.87. The company had a trading volume of 5,024,599 shares, compared to its average volume of 4,128,385. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87. The company has a fifty day simple moving average of $254.58 and a two-hundred day simple moving average of $257.38. International Business Machines Corporation has a one year low of $203.51 and a one year high of $296.16. The stock has a market cap of $252.67 billion, a price-to-earnings ratio of 44.13, a price-to-earnings-growth ratio of 4.10 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, topping the consensus estimate 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 firm had revenue of $16.98 billion for the quarter, compared to the consensus estimate of $16.58 billion. During the same period in the prior year, the business posted $2.43 earnings per share. The company's revenue for the quarter was up 7.7% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. The Goldman Sachs Group increased their price target on International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Erste Group Bank lowered International Business Machines from a "buy" rating to a "hold" rating in a research note on Thursday, August 14th. Sanford C. Bernstein assumed coverage on International Business Machines in a research note on Monday, September 15th. They issued a "market perform" rating and a $280.00 price objective for the company. Stifel Nicolaus raised their price objective on International Business Machines from $290.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Finally, Royal Bank Of Canada raised their price objective on 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 assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $275.00.

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.