Turtle Creek Wealth Advisors LLC Purchases Shares of 2,434 International Business Machines Corporation $IBM

Key Points

• Turtle Creek Wealth Advisors LLC acquired 2,434 shares of International Business Machines Corporation (IBM) during Q2, worth approximately $717,000.
• Multiple institutional investors have adjusted their holdings in IBM, with hedge funds collectively owning 58.96% of the company’s stock.
• In recent analyst reports, JPMorgan Chase raised IBM's price target from $244.00 to $290.00 while maintaining a "neutral" rating.

Turtle Creek Wealth Advisors 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 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,434 shares of the technology company's stock, valued at approximately $717,000.

Several other hedge funds and other institutional investors have also modified their holdings of IBM. Lifestyle Asset Management Inc. grew its position in International Business Machines by 1.7% during the 2nd quarter. Lifestyle Asset Management Inc. now owns 2,144 shares of the technology company's stock worth $632,000 after purchasing an additional 36 shares during the period. Whelan Financial lifted its stake in International Business Machines by 2.4% in the 2nd quarter. Whelan Financial now owns 1,525 shares of the technology company's stock valued at $450,000 after buying an additional 36 shares in the last quarter. Ignite Planners LLC lifted its stake in International Business Machines by 0.9% in the 2nd quarter. Ignite Planners LLC now owns 3,964 shares of the technology company's stock valued at $1,133,000 after buying an additional 36 shares in the last quarter. Blue Edge Capital LLC lifted its stake in International Business Machines by 0.6% in the 1st quarter. Blue Edge Capital LLC now owns 6,776 shares of the technology company's stock worth $1,685,000 after purchasing an additional 39 shares in the last quarter. Finally, Johnson Bixby & Associates LLC lifted its stake in International Business Machines by 3.3% in the 2nd quarter. Johnson Bixby & Associates LLC now owns 1,208 shares of the technology company's stock worth $356,000 after purchasing an additional 39 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of International Business Machines from $244.00 to $290.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. UBS Group boosted their price target on shares of International Business Machines from $195.00 to $200.00 and gave the stock a "sell" rating in a research note on Thursday, July 24th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $315.00 price objective on shares of International Business Machines in a research report on Thursday. Stifel Nicolaus lifted their price objective on shares of International Business Machines from $290.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Finally, Bank of America reduced their price target 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. One 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 assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $286.38.

International Business Machines Trading Down 1.7%

Shares of International Business Machines stock opened at $275.93 on Friday. International Business Machines Corporation has a 12-month low of $203.51 and a 12-month high of $301.04. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00. The stock has a market cap of $256.45 billion, a PE ratio of 44.79, a price-to-earnings-growth ratio of 4.32 and a beta of 0.73. The company has a 50-day moving average of $260.29 and a two-hundred day moving average of $261.44.

International Business Machines (NYSE:IBM - Get Free Report) last issued its 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 during the quarter, compared to analysts' expectations of $16.58 billion. During the same period last year, the company posted $2.43 earnings per share. The firm's quarterly revenue was up 7.7% compared to the same quarter last year. International Business Machines has set its FY 2025 guidance at EPS. On average, research analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were given a dividend of $1.68 per share. 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 (DPR) is 109.09%.

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.

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