OLD National Bancorp IN Has $11.14 Million Position in International Business Machines Corporation $IBM

Key Points

• OLD National Bancorp IN increased its holdings in International Business Machines Corporation (IBM) by 191.4% in Q2, now owning 37,803 shares valued at approximately $11.14 million.
• IBM's stock has seen mixed ratings from analysts, with one strong buy, seven buys, eight holds, and one sell, resulting in an average price target of $284.62.
• The company declared a quarterly dividend of $1.68 per share, representing an annualized yield of 2.3% and a payout ratio of 109.09%.

OLD National Bancorp IN boosted its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 191.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,803 shares of the technology company's stock after buying an additional 24,831 shares during the period. OLD National Bancorp IN's holdings in International Business Machines were worth $11,144,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Lifestyle Asset Management Inc. lifted its holdings in International Business Machines by 1.7% in the second quarter. Lifestyle Asset Management Inc. now owns 2,144 shares of the technology company's stock valued at $632,000 after buying an additional 36 shares during the period. Whelan Financial lifted its holdings in International Business Machines by 2.4% in the second quarter. Whelan Financial now owns 1,525 shares of the technology company's stock valued at $450,000 after buying an additional 36 shares during the period. Blue Edge Capital LLC lifted its holdings in 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 during the period. Johnson Bixby & Associates LLC increased its stake in 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 purchasing an additional 39 shares in the last quarter. Finally, Tacita Capital Inc increased its stake in 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 purchasing an additional 40 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IBM has been the subject of several recent analyst reports. Erste Group Bank downgraded shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Thursday, August 14th. Bank of America lowered their target price on shares of International Business Machines from $320.00 to $310.00 and set a "buy" rating for the company in a research note on Thursday, July 24th. UBS Group upped their target price on shares of International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a research note on Thursday, July 24th. Royal Bank Of Canada upped their target price 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. Finally, Wedbush upped their target price on shares of International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a research note on Friday, June 20th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, International Business Machines currently has an average rating of "Hold" and an average price target of $284.62.

International Business Machines Stock Up 0.7%

Shares of IBM stock opened at $288.62 on Friday. The firm has a fifty day moving average of $255.18 and a 200-day moving average of $259.27. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. International Business Machines Corporation has a 12-month low of $203.51 and a 12-month high of $296.16. The company has a market capitalization of $268.25 billion, a price-to-earnings ratio of 46.85, a P/E/G ratio of 4.44 and a beta of 0.73.

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 for the quarter, beating analysts' consensus estimates of $2.65 by $0.15. The business had revenue of $16.98 billion during the quarter, compared to the consensus estimate of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The firm's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.43 earnings per share. International Business Machines has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

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