Patton Albertson Miller Group LLC Raises Stock Holdings in International Business Machines Corporation $IBM

Key Points

• Patton Albertson Miller Group LLC increased its stake in International Business Machines Corporation (IBM) by 4.7% in Q2, now holding 21,612 shares valued at approximately $6.37 million.
• Several institutional investors have also raised their stakes in IBM, with Brighton Jones LLC and Versant Capital Management Inc significantly increasing their holdings by 12.4% and 60.7%, respectively.
• IBM's shares are currently trading at $284.72, with recent earnings surpassing estimates at $2.80 per share and a revenue increase of 7.7% year-over-year.

Patton Albertson Miller Group LLC raised its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 4.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,612 shares of the technology company's stock after buying an additional 965 shares during the quarter. Patton Albertson Miller Group LLC's holdings in International Business Machines were worth $6,371,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IBM. Brighton Jones LLC lifted its stake in International Business Machines by 12.4% in the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock valued at $4,619,000 after buying an additional 2,323 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of International Business Machines by 60.7% during the first quarter. Versant Capital Management Inc now owns 1,032 shares of the technology company's stock worth $257,000 after purchasing an additional 390 shares during the last quarter. Legacy Private Trust Co. raised its stake in shares of International Business Machines by 44.1% during the first quarter. Legacy Private Trust Co. now owns 4,425 shares of the technology company's stock worth $1,100,000 after purchasing an additional 1,355 shares during the last quarter. AdvisorNet Financial Inc raised its stake in shares of International Business Machines by 3.5% during the first quarter. AdvisorNet Financial Inc now owns 6,399 shares of the technology company's stock worth $1,591,000 after purchasing an additional 218 shares during the last quarter. Finally, Doliver Advisors LP raised its stake in shares of International Business Machines by 27.4% during the first quarter. Doliver Advisors LP now owns 1,201 shares of the technology company's stock worth $299,000 after purchasing an additional 258 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

Analyst Ratings Changes

IBM has been the subject of several research analyst reports. Royal Bank Of Canada increased their price objective on International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. UBS Group increased their price objective on International Business Machines from $195.00 to $200.00 and gave the stock a "sell" rating in a research report on Thursday, July 24th. Sanford C. Bernstein started 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. Bank of America cut their price objective on International Business Machines from $320.00 to $310.00 and set a "buy" rating for the company in a research report on Thursday, July 24th. Finally, Melius Research upgraded International Business Machines to a "strong-buy" rating in a research report on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, International Business Machines presently has a consensus rating of "Hold" and an average price target of $275.00.

International Business Machines Trading Up 1.2%

Shares of IBM stock opened at $284.72 on Friday. International Business Machines Corporation has a fifty-two week low of $203.51 and a fifty-two week high of $296.16. The stock has a market cap of $264.62 billion, a P/E ratio of 46.22, a P/E/G ratio of 4.38 and a beta of 0.71. The business has a fifty day simple moving average of $254.07 and a 200-day simple moving average of $258.03. 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 (NYSE:IBM - Get Free Report) last announced its quarterly 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 analysts' expectations of $16.58 billion. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.The business's revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the business posted $2.43 earnings per share. International Business Machines has set its FY 2025 guidance at EPS. On average, 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. Investors of record on Friday, August 8th were given a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Friday, August 8th. International Business Machines's dividend payout ratio (DPR) is currently 109.09%.

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.

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