OFI Invest Asset Management Grows Stake in International Business Machines Corporation $IBM

Key Points

• OFI Invest Asset Management has increased its stake in International Business Machines Corporation (IBM) by 22.5% during Q2, now owning 21,205 shares valued at $6.25 million.
• Analysts have upped their price targets for IBM, with Royal Bank of Canada raising it from $285 to $315 and Goldman Sachs from $270 to $310, reflecting positive sentiment towards the stock.
• IBM recently announced earnings of $2.80 per share, exceeding estimates and indicating a 7.7% year-over-year revenue growth to $16.98 billion.

OFI Invest Asset Management raised its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 22.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,205 shares of the technology company's stock after acquiring an additional 3,896 shares during the quarter. OFI Invest Asset Management's holdings in International Business Machines were worth $6,251,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. raised its position in shares of International Business Machines by 1.4% in the second quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. now owns 18,796 shares of the technology company's stock valued at $5,541,000 after purchasing an additional 263 shares during the period. Means Investment CO. Inc. raised its position in shares of International Business Machines by 7.1% in the second quarter. Means Investment CO. Inc. now owns 8,336 shares of the technology company's stock valued at $2,457,000 after purchasing an additional 551 shares during the period. Vanguard Personalized Indexing Management LLC raised its position in shares of International Business Machines by 17.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 130,618 shares of the technology company's stock valued at $38,904,000 after purchasing an additional 19,071 shares during the period. Hobbs Group Advisors LLC bought a new stake in shares of International Business Machines in the second quarter valued at approximately $246,000. Finally, Sovereign Financial Group Inc. raised its position in shares of International Business Machines by 1.4% in the second quarter. Sovereign Financial Group Inc. now owns 4,665 shares of the technology company's stock valued at $1,375,000 after purchasing an additional 65 shares during the period. Institutional investors own 58.96% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on IBM shares. Royal Bank Of Canada boosted their price target on shares of International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. The Goldman Sachs Group upped their target price on shares of International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Wedbush upped their target price on shares of International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. JPMorgan Chase & Co. upped their target price on shares of International Business Machines from $244.00 to $290.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Finally, Sanford C. Bernstein initiated coverage on shares of International Business Machines in a report on Monday, September 15th. They set a "market perform" rating and a $280.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $284.62.

International Business Machines Price Performance

IBM stock opened at $278.09 on Friday. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87. International Business Machines Corporation has a one year low of $203.51 and a one year high of $301.04. The stock has a market cap of $258.45 billion, a PE ratio of 45.14, a P/E/G ratio of 4.28 and a beta of 0.73. The firm has a 50 day simple moving average of $258.19 and a two-hundred day simple moving average of $260.68.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data 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 net margin of 9.11% and a return on equity of 37.62%. The company had revenue of $16.98 billion during the quarter, compared to analysts' expectations of $16.58 billion. During the same quarter in the prior year, the company earned $2.43 EPS. The firm's revenue was up 7.7% on a year-over-year basis. 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 fiscal year.

International Business Machines Dividend Announcement

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

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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