Mirae Asset Global Investments Co. Ltd. Increases Stake in International Business Machines Corporation $IBM

Key Points

• Mirae Asset Global Investments increased its stake in IBM by 10.3% during the second quarter, owning a total of 134,885 shares valued at approximately $39.76 million.
• IBM has received upgrades from various analysts, with Melius Research giving it a "strong-buy" rating and Royal Bank of Canada raising the price target from $285 to $315.
• The company reported $2.80 EPS for the last quarter, exceeding estimates, with a revenue increase of 7.7% year-over-year.

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 10.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 134,885 shares of the technology company's stock after acquiring an additional 12,644 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in International Business Machines were worth $39,761,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Lifestyle Asset Management Inc. raised its position in International Business Machines by 1.7% during the second quarter. Lifestyle Asset Management Inc. now owns 2,144 shares of the technology company's stock valued at $632,000 after acquiring an additional 36 shares in the last quarter. Blue Edge Capital LLC increased its position in shares of International Business Machines by 0.6% in the first quarter. Blue Edge Capital LLC now owns 6,776 shares of the technology company's stock valued at $1,685,000 after buying an additional 39 shares in the last quarter. Johnson Bixby & Associates LLC increased its position in shares of International Business Machines by 3.3% in the second quarter. Johnson Bixby & Associates LLC now owns 1,208 shares of the technology company's stock valued at $356,000 after buying an additional 39 shares in the last quarter. Tacita Capital Inc increased its position in shares of International Business Machines by 20.8% in the first quarter. Tacita Capital Inc now owns 232 shares of the technology company's stock valued at $58,000 after buying an additional 40 shares in the last quarter. Finally, Vestia Personal Wealth Advisors increased its position in shares of International Business Machines by 3.1% in the second quarter. Vestia Personal Wealth Advisors now owns 1,345 shares of the technology company's stock valued at $396,000 after buying an additional 40 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IBM has been the subject of a number of recent analyst reports. Melius Research upgraded International Business Machines to a "strong-buy" rating in a research report on Monday, July 7th. Sanford C. Bernstein initiated coverage on International Business Machines in a research report on Monday, September 15th. They issued a "market perform" rating and a $280.00 price objective for the company. Royal Bank Of Canada boosted their price objective on International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. BMO Capital Markets boosted their price target on International Business Machines from $260.00 to $300.00 and gave the stock a "market perform" rating in a research report on Friday, July 18th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of International Business Machines in a research report on Saturday, September 27th. One 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 given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $284.62.

International Business Machines Stock Up 0.7%

Shares of IBM opened at $288.62 on Friday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. 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 capitalization of $268.25 billion, a price-to-earnings ratio of 46.85, a PEG ratio of 4.41 and a beta of 0.73. The stock has a 50 day moving average price of $255.18 and a 200 day moving average price of $259.22.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, topping analysts' consensus estimates of $2.65 by $0.15. The company 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 for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.43 earnings per share. International Business Machines has set its FY 2025 guidance at EPS. Equities research analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were paid a dividend of $1.68 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $6.72 dividend on an annualized basis and a yield of 2.3%. International Business Machines's payout ratio is 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.

Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Corporation (NYSE:IBM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.