Thurston Springer Miller Herd & Titak Inc. Boosts Holdings in International Business Machines Corporation $IBM

Key Points

• Thurston Springer Miller Herd & Titak Inc. increased its holdings in International Business Machines Corporation (IBM) by 49.1% during the second quarter, now owning 10,564 shares valued at approximately $3.12 million.
• Wall Street analysts have varying opinions on IBM's stock, with price targets ranging from $270.67 to $315.00, and multiple ratings including "buy" and "hold."
• IBM reported $2.80 earnings per share for the last quarter, exceeding analysts' expectations, with a year-over-year revenue growth of 7.7%.

Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 49.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,564 shares of the technology company's stock after acquiring an additional 3,479 shares during the period. Thurston Springer Miller Herd & Titak Inc.'s holdings in International Business Machines were worth $3,116,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MinichMacGregor Wealth Management LLC purchased a new stake in International Business Machines during the first quarter valued at approximately $396,000. Brooklyn Investment Group raised its holdings in shares of International Business Machines by 32.7% in the first quarter. Brooklyn Investment Group now owns 6,622 shares of the technology company's stock worth $1,647,000 after buying an additional 1,630 shares during the last quarter. Edgar Lomax Co. VA raised its holdings in shares of International Business Machines by 5.7% in the first quarter. Edgar Lomax Co. VA now owns 235,967 shares of the technology company's stock worth $58,676,000 after buying an additional 12,690 shares during the last quarter. Left Brain Wealth Management LLC raised its holdings in shares of International Business Machines by 1,547.8% during the first quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company's stock worth $4,392,000 after purchasing an additional 16,592 shares during the last quarter. Finally, Alpha Cubed Investments LLC raised its holdings in shares of International Business Machines by 47.0% during the first quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company's stock worth $1,867,000 after purchasing an additional 2,399 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. BMO Capital Markets raised their price target on shares of International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a research report on Friday, July 18th. Bank of America dropped their target price on shares of International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a research report on Thursday, July 24th. JPMorgan Chase & Co. boosted their price target on shares of International Business Machines from $244.00 to $290.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Erste Group Bank lowered shares of International Business Machines from a "buy" rating to a "hold" rating in a research report on Thursday, August 14th. Finally, Royal Bank Of Canada boosted their price target 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. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, International Business Machines has an average rating of "Hold" and a consensus target price of $270.67.

International Business Machines Price Performance

Shares of IBM stock opened at $253.46 on Friday. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87. The firm's 50-day moving average is $257.59 and its two-hundred day moving average is $256.94. 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 $235.56 billion, a PE ratio of 41.15, a price-to-earnings-growth ratio of 3.96 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. The business had revenue of $16.98 billion for 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 business's revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm 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 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were paid a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, August 8th. International Business Machines's payout ratio is 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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