International Business Machines Corporation $IBM Shares Acquired by Mainstay Capital Management LLC ADV

Key Points

• Mainstay Capital Management LLC ADV increased its stake in International Business Machines (IBM) by 101.7%, holding 19,212 shares worth approximately $5.66 million.
• IBM reported an earnings per share (EPS) of $2.80 for Q2 2023, surpassing expectations of $2.65, with quarterly revenues of $16.98 billion, a 7.7% increase year-over-year.
• The company's quarterly dividend of $1.68, paid on September 10, reflects a dividend yield of 2.3%, though it has a high payout ratio of 109.09%.

Mainstay Capital Management LLC ADV boosted its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 101.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,212 shares of the technology company's stock after acquiring an additional 9,688 shares during the quarter. International Business Machines accounts for 0.3% of Mainstay Capital Management LLC ADV's investment portfolio, making the stock its 28th biggest position. Mainstay Capital Management LLC ADV's holdings in International Business Machines were worth $5,663,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in IBM. GQG Partners LLC acquired a new stake in shares of International Business Machines during the first quarter valued at about $1,040,057,000. Nuveen LLC acquired a new stake in International Business Machines during the 1st quarter valued at approximately $960,386,000. Vanguard Group Inc. raised its position in shares of International Business Machines by 1.4% in 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 purchasing an additional 1,298,515 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of International Business Machines by 41.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,164,987 shares of the technology company's stock worth $787,007,000 after buying an additional 930,448 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in International Business Machines by 20.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,157,846 shares of the technology company's stock worth $1,282,550,000 after acquiring an additional 889,008 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IBM has been the subject of a number of research analyst reports. Sanford C. Bernstein started coverage on International Business Machines in a report on Monday, September 15th. They issued a "market perform" rating and a $280.00 price target for the company. UBS Group lifted their target price on International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a research note on Thursday, July 24th. Erste Group Bank cut International Business Machines from a "buy" rating to a "hold" rating in a research report on Thursday, August 14th. The Goldman Sachs Group increased their target price on International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Finally, BMO Capital Markets boosted their price target on shares of International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a report on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $284.62.

International Business Machines Trading Down 1.6%

International Business Machines stock opened at $289.31 on Thursday. International Business Machines Corporation has a 52 week low of $203.51 and a 52 week high of $301.04. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. The firm has a market capitalization of $268.88 billion, a price-to-earnings ratio of 46.97, a P/E/G ratio of 4.52 and a beta of 0.73. The company has a 50 day moving average price of $256.92 and a 200 day moving average price of $260.14.

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 (EPS) for the quarter, beating 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 company 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 company earned $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. Research analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were issued a $1.68 dividend. The ex-dividend date was Friday, August 8th. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.3%. International Business Machines's dividend payout ratio is currently 109.09%.

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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