Meyer Handelman Co. Boosts Position in International Business Machines Corporation $IBM

Key Points

• Meyer Handelman Co. increased its stake in International Business Machines (IBM) by 0.6%, now holding 355,207 shares valued at $104.7 million, making it IBM's 3rd largest investor.
• IBM reported earnings of $2.80 per share for the last quarter, exceeding analysts' estimates, and noted a revenue increase of 7.7% year-over-year.
• The company declared a quarterly dividend of $1.68 per share, resulting in a yield of 2.4%, with a payout ratio currently at 109.09%.

Meyer Handelman Co. lifted its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 0.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 355,207 shares of the technology company's stock after acquiring an additional 2,216 shares during the period. International Business Machines accounts for 3.5% of Meyer Handelman Co.'s portfolio, making the stock its 3rd biggest holding. Meyer Handelman Co.'s holdings in International Business Machines were worth $104,708,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. MinichMacGregor Wealth Management LLC acquired a new stake in shares of International Business Machines in the first quarter valued at approximately $396,000. Brooklyn Investment Group grew its holdings in International Business Machines by 32.7% in the 1st quarter. Brooklyn Investment Group now owns 6,622 shares of the technology company's stock worth $1,647,000 after buying an additional 1,630 shares in the last quarter. Edgar Lomax Co. VA increased its position in International Business Machines by 5.7% in the 1st quarter. Edgar Lomax Co. VA now owns 235,967 shares of the technology company's stock valued at $58,676,000 after acquiring an additional 12,690 shares during the period. Left Brain Wealth Management LLC raised its stake in 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 valued at $4,392,000 after acquiring an additional 16,592 shares in the last quarter. Finally, Alpha Cubed Investments LLC raised its stake in International Business Machines by 47.0% during the 1st quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company's stock valued at $1,867,000 after acquiring an additional 2,399 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Stock Performance

NYSE:IBM opened at $281.76 on Friday. The firm has a market capitalization of $261.86 billion, a PE ratio of 45.74, a PEG ratio of 4.12 and a beta of 0.71. International Business Machines Corporation has a 1 year low of $203.51 and a 1 year 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 firm's fifty day simple moving average is $254.09 and its 200 day simple moving average is $257.72.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly 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. The company had revenue of $16.98 billion during the quarter, compared to analysts' expectations of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The business's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.43 earnings per share. International Business Machines has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were given a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Friday, August 8th. International Business Machines's payout ratio is currently 109.09%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on IBM shares. BMO Capital Markets raised their price target on International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a report on Friday, July 18th. Erste Group Bank lowered shares of International Business Machines from a "buy" rating to a "hold" rating in a research report on Thursday, August 14th. The Goldman Sachs Group boosted their price target on shares of International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Wedbush upped their price target on shares of International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. Finally, Royal Bank Of Canada raised 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. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $275.00.

About International Business Machines

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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