Jackson Square Capital LLC Purchases Shares of 2,782 International Business Machines Corporation $IBM

Key Points

• Jackson Square Capital LLC purchased 2,782 shares of IBM, worth approximately $820,000, during the second quarter, marking a significant investment in the company.
• IBM's recent quarterly earnings reported an EPS of $2.80, exceeding analysts' expectations of $2.65, with revenues of $16.98 billion reflecting a year-over-year growth of 7.7%.
• Several analysts have provided favorable ratings for IBM, raising target prices; for example, Stifel Nicolaus increased their target from $290 to $310, maintaining a "buy" rating.

Jackson Square Capital LLC bought a new stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,782 shares of the technology company's stock, valued at approximately $820,000.

Several other hedge funds have also modified their holdings of IBM. MinichMacGregor Wealth Management LLC acquired a new position in International Business Machines during the first quarter valued at $396,000. Brooklyn Investment Group raised its position in International Business Machines by 32.7% during the first quarter. Brooklyn Investment Group now owns 6,622 shares of the technology company's stock valued at $1,647,000 after buying an additional 1,630 shares during the period. Edgar Lomax Co. VA raised its position in International Business Machines by 5.7% during the first quarter. Edgar Lomax Co. VA now owns 235,967 shares of the technology company's stock valued at $58,676,000 after buying an additional 12,690 shares during the period. Left Brain Wealth Management LLC raised its position in International Business Machines by 1,547.8% during the first quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company's stock valued at $4,392,000 after buying an additional 16,592 shares during the period. Finally, Alpha Cubed Investments LLC raised its position in International Business Machines by 47.0% during the first 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 period. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Trading Up 0.8%

Shares of NYSE:IBM traded up $2.19 during midday trading on Friday, hitting $267.19. The company had a trading volume of 9,852,135 shares, compared to its average volume of 3,792,223. International Business Machines Corporation has a 12 month low of $203.51 and a 12 month high of $296.16. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00. The stock has a market cap of $248.33 billion, a price-to-earnings ratio of 43.38, a PEG ratio of 4.10 and a beta of 0.71. The firm has a fifty day simple moving average of $254.82 and a 200 day simple moving average of $257.25.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.15. The business had revenue of $16.98 billion for 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 firm's revenue was up 7.7% on a year-over-year basis. During the same period last year, the company earned $2.43 EPS. 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 year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were issued 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 payout ratio is currently 109.09%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Bank of America dropped their target price on International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a research report on Thursday, July 24th. Sanford C. Bernstein started coverage on International Business Machines in a research note on Monday, September 15th. They set a "market perform" rating and a $280.00 target price for the company. Wedbush raised their price objective on International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research report on Friday, June 20th. JPMorgan Chase & Co. raised their price objective on International Business Machines from $244.00 to $290.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Finally, Erste Group Bank cut International Business Machines from a "buy" rating to a "hold" rating in a report on Thursday, August 14th. One equities research 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 issued a Sell rating to the company. According to data from MarketBeat.com, International Business Machines currently has an average rating of "Hold" and a consensus 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.