Triton Wealth Management PLLC Invests $440,000 in International Business Machines Corporation $IBM

Key Points

• Triton Wealth Management PLLC has invested approximately $440,000 in International Business Machines Corporation (IBM), acquiring 1,494 shares during the second quarter.
• IBM reported earnings of $2.80 per share, exceeding analyst expectations, with quarterly revenue reaching $16.98 billion, a 7.7% year-over-year increase.
• Several analysts have raised their price targets for IBM, with Wedbush increasing its target from $300 to $325, indicating a generally optimistic outlook for the stock.

Triton Wealth Management PLLC bought a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 1,494 shares of the technology company's stock, valued at approximately $440,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Family CFO Inc acquired a new position in shares of International Business Machines during the 2nd quarter worth approximately $25,000. Christopher J. Hasenberg Inc purchased a new stake in International Business Machines in the 1st quarter worth $27,000. SSA Swiss Advisors AG acquired a new position in International Business Machines during the first quarter worth $28,000. Highline Wealth Partners LLC lifted its holdings in International Business Machines by 85.0% during the second quarter. Highline Wealth Partners LLC now owns 111 shares of the technology company's stock valued at $33,000 after purchasing an additional 51 shares in the last quarter. Finally, Dagco Inc. acquired a new stake in shares of International Business Machines in the first quarter valued at about $31,000. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Stock Down 0.4%

NYSE IBM opened at $276.12 on Wednesday. The business's fifty day simple moving average is $259.20 and its 200-day simple moving average is $261.11. 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 firm has a market cap of $256.63 billion, a PE ratio of 44.83, a P/E/G ratio of 4.27 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.

International Business Machines (NYSE:IBM - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, topping analysts' consensus estimates of $2.65 by $0.15. The company 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%. International Business Machines's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.43 earnings per share. International Business Machines has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were issued a $1.68 dividend. The ex-dividend date was Friday, August 8th. This represents a $6.72 dividend on an annualized basis and a yield of 2.4%. International Business Machines's dividend payout ratio is currently 109.09%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Wedbush boosted their price objective on International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. Stifel Nicolaus boosted their price target on International Business Machines from $290.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Sanford C. Bernstein assumed coverage on International Business Machines in a report on Monday, September 15th. They issued a "market perform" rating and a $280.00 price objective on the stock. The Goldman Sachs Group upped their target price on shares of International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Finally, Erste Group Bank downgraded shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $284.62.

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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