Sonora Investment Management Group LLC Purchases Shares of 105,176 International Business Machines Corporation $IBM

Key Points

• Sonora Investment Management Group LLC acquired 105,176 shares of International Business Machines Corporation (IBM), valued at approximately $31 million, making it the firm's 9th largest holding.
• Convertible ratings for IBM stocks reflect a generally positive sentiment, with a recent upgrade from Stifel Nicolaus raising the price target to $310 and a mix of ratings including one "Strong Buy" and seven "Buy."
• The company's latest earnings report showed a strong performance with an EPS of $2.80, exceeding expectations, and revenue growth of 7.7% year-over-year.

Sonora Investment Management Group LLC acquired a new position in International Business Machines Corporation (NYSE:IBM - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 105,176 shares of the technology company's stock, valued at approximately $31,004,000. International Business Machines accounts for approximately 2.3% of Sonora Investment Management Group LLC's holdings, making the stock its 9th biggest holding.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in International Business Machines by 1.4% during the first quarter. Vanguard Group Inc. now owns 93,137,767 shares of the technology company's stock valued at $23,159,637,000 after purchasing an additional 1,298,515 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of International Business Machines by 6.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,636,725 shares of the technology company's stock valued at $2,147,608,000 after purchasing an additional 524,633 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of International Business Machines by 1.0% during the 1st quarter. Ameriprise Financial Inc. now owns 5,516,240 shares of the technology company's stock valued at $1,371,812,000 after buying an additional 52,317 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in International Business Machines by 20.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,157,846 shares of the technology company's stock worth $1,282,550,000 after buying an additional 889,008 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in International Business Machines by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,108,455 shares of the technology company's stock worth $1,270,022,000 after buying an additional 24,790 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on IBM. Stifel Nicolaus boosted their price objective on International Business Machines from $290.00 to $310.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. BMO Capital Markets upped their price target on International Business Machines from $260.00 to $300.00 and gave the stock a "market perform" rating in a research note on Friday, July 18th. The Goldman Sachs Group lifted their price objective on shares of International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Melius Research upgraded shares of International Business Machines to a "strong-buy" rating in a research report on Monday, July 7th. Finally, Bank of America cut 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. One research 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, International Business Machines currently has an average rating of "Hold" and an average target price of $275.00.

International Business Machines Stock Up 1.2%

NYSE IBM opened at $284.72 on Friday. The stock has a 50 day moving average price of $254.07 and a 200-day moving average price of $258.03. International Business Machines Corporation has a one year low of $203.51 and a one year high of $296.16. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. The company has a market capitalization 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.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $16.58 billion. During the same quarter in the prior year, the firm earned $2.43 earnings per share. International Business Machines's revenue was up 7.7% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. As a group, equities analysts predict that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

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. This represents a $6.72 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Friday, August 8th. International Business Machines's payout ratio is presently 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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