Sagespring Wealth Partners LLC Grows Stock Holdings in International Business Machines Corporation $IBM

Key Points

• Sagespring Wealth Partners LLC increased its holdings in International Business Machines Corporation (IBM) by 13.8% during the 2nd quarter, now owning 29,312 shares valued at $8.6 million.
• Several other investment firms also raised their stakes in IBM, with Wealth Enhancement Advisory Services LLC increasing their holdings by 27.6% and now owning over 1.15 million shares.
• Analysts have recently adjusted their price targets for IBM, with Royal Bank of Canada raising it from $285 to $315, indicating growing confidence in the company's stock performance.

Sagespring Wealth Partners LLC grew its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 13.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 29,312 shares of the technology company's stock after purchasing an additional 3,550 shares during the period. Sagespring Wealth Partners LLC's holdings in International Business Machines were worth $8,641,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in IBM. Brighton Jones LLC raised its holdings in International Business Machines by 12.4% in the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock worth $4,619,000 after acquiring an additional 2,323 shares during the last quarter. GAMMA Investing LLC raised its holdings in International Business Machines by 19.3% in the 1st quarter. GAMMA Investing LLC now owns 17,694 shares of the technology company's stock worth $4,400,000 after acquiring an additional 2,862 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in International Business Machines by 27.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,158,366 shares of the technology company's stock worth $288,039,000 after acquiring an additional 250,283 shares during the last quarter. Dohj LLC purchased a new position in International Business Machines in the 1st quarter worth approximately $225,000. Finally, Ritholtz Wealth Management raised its holdings in International Business Machines by 20.1% in the 1st quarter. Ritholtz Wealth Management now owns 14,115 shares of the technology company's stock worth $3,510,000 after acquiring an additional 2,362 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on IBM. Wall Street Zen raised shares of International Business Machines from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. BMO Capital Markets lifted their target price on shares of 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. Royal Bank Of Canada lifted their target price on shares of 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 lifted their target price on shares of International Business Machines from $195.00 to $200.00 and gave the stock a "sell" rating in a research report on Thursday, July 24th. Finally, Melius Research raised shares of International Business Machines to a "strong-buy" rating in a research report on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $284.62.

International Business Machines Stock Down 0.2%

Shares of IBM stock opened at $277.21 on Tuesday. The stock has a market cap of $257.64 billion, a P/E ratio of 45.00, a PEG ratio of 4.28 and a beta of 0.73. International Business Machines Corporation has a 52 week low of $203.51 and a 52 week high of $301.04. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. The company's fifty day simple moving average is $258.69 and its two-hundred day simple moving average is $261.01.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.65 by $0.15. The business had revenue of $16.98 billion for 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 quarter in the previous year, the company earned $2.43 EPS. International Business Machines has set its FY 2025 guidance at EPS. Analysts predict that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

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