Sweeney & Michel LLC Invests $663,000 in International Business Machines Corporation $IBM

Key Points

• Sweeney & Michel LLC has acquired a new stake in IBM, purchasing 2,338 shares valued at approximately $663,000 during the second quarter.
• IBM reported a quarterly earnings per share of $2.80, surpassing analysts' expectations, with revenues of $16.98 billion, marking a year-over-year increase of 7.7%.
• The company recently announced a quarterly dividend of $1.68 per share, with a total annualized dividend yield of 2.5%, despite a dividend payout ratio of 109.09%.

Sweeney & Michel LLC purchased a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,338 shares of the technology company's stock, valued at approximately $663,000.

Several other large investors have also bought and sold shares of the business. GAMMA Investing LLC grew its holdings in shares of International Business Machines by 29,564.2% during the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock valued at $10,940,520,000 after purchasing an additional 4,384,958 shares during the last quarter. GQG Partners LLC bought a new stake in shares of International Business Machines during the first quarter worth $1,040,057,000. Nuveen LLC bought a new position in shares of International Business Machines in the 1st quarter valued at $960,386,000. Vanguard Group Inc. grew its position in International Business Machines by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 93,137,767 shares of the technology company's stock worth $23,159,637,000 after acquiring an additional 1,298,515 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in International Business Machines by 41.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,164,987 shares of the technology company's stock valued at $787,007,000 after purchasing an additional 930,448 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Up 2.1%

IBM stock traded up $5.47 during mid-day trading on Monday, reaching $271.87. 5,024,599 shares of the company traded hands, compared to its average volume of 4,128,385. The stock has a market cap of $252.67 billion, a price-to-earnings ratio of 44.13, a P/E/G ratio of 4.10 and a beta of 0.71. International Business Machines Corporation has a fifty-two week low of $203.51 and a fifty-two week high of $296.16. The firm's 50 day moving average price is $254.58 and its 200 day moving average price is $257.38. 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 (EPS) for the quarter, topping the consensus estimate 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 return on equity of 37.62% and a net margin of 9.11%.International Business Machines's revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $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 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. Shareholders of record on Friday, August 8th were paid a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Friday, August 8th. International Business Machines's dividend payout ratio is 109.09%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on IBM. Wedbush raised their price target 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. Erste Group Bank downgraded International Business Machines from a "buy" rating to a "hold" rating in a report on Thursday, August 14th. Melius Research raised International Business Machines to a "strong-buy" rating in a research note on Monday, July 7th. Bank of America decreased 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 report on Thursday, July 24th. Finally, Wall Street Zen raised shares of International Business Machines from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $275.00.

International Business Machines Company 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.