Wedmont Private Capital Buys 1,112 Shares of International Business Machines Corporation $IBM

Key Points

• Wedmont Private Capital increased its holdings in International Business Machines Corporation (IBM) by 9.3%, bringing their total to $3.79 million worth of stock.
• Analysts are optimistic about IBM, with Royal Bank of Canada setting a new target price of $315.00, while one analyst has given it a "Strong Buy" rating.
• IBM reported earnings of $2.80 per share, surpassing estimates and showing a 7.7% year-over-year revenue increase.

Wedmont Private Capital raised its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 9.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,065 shares of the technology company's stock after acquiring an additional 1,112 shares during the period. Wedmont Private Capital's holdings in International Business Machines were worth $3,791,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Christopher J. Hasenberg Inc acquired a new stake in shares of International Business Machines in the first quarter valued at $27,000. SSA Swiss Advisors AG acquired a new stake in shares of International Business Machines during the first quarter worth $28,000. Dagco Inc. acquired a new stake in shares of International Business Machines during the first quarter worth $31,000. Silicon Valley Capital Partners raised its position in shares of International Business Machines by 322.6% during the first quarter. Silicon Valley Capital Partners now owns 131 shares of the technology company's stock worth $32,000 after purchasing an additional 100 shares during the period. Finally, Compass Financial Services Inc raised its position in shares of International Business Machines by 41.5% during the first quarter. Compass Financial Services Inc now owns 167 shares of the technology company's stock worth $42,000 after purchasing an additional 49 shares during the period. Institutional investors and hedge funds own 58.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IBM. Melius Research raised International Business Machines to a "strong-buy" rating in a research report on Monday, July 7th. Wall Street Zen raised International Business Machines from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. BMO Capital Markets boosted their target price on International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a research note on Friday, July 18th. JPMorgan Chase & Co. boosted their target price on International Business Machines from $244.00 to $290.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Finally, Royal Bank Of Canada boosted their target price on International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $275.00.

International Business Machines Stock Performance

NYSE:IBM traded up $2.19 during mid-day trading on Friday, hitting $267.19. 9,852,135 shares of the company's stock traded hands, compared to its average volume of 4,686,660. The firm has a 50 day moving average of $255.14 and a two-hundred day moving average of $257.11. International Business Machines Corporation has a 12 month low of $203.51 and a 12 month high of $296.16. The firm has a market capitalization of $248.33 billion, a price-to-earnings ratio of 43.38, a price-to-earnings-growth ratio of 3.99 and a beta of 0.71. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, beating the consensus estimate of $2.65 by $0.15. The firm had revenue of $16.98 billion during the quarter, compared to analysts' expectations of $16.58 billion. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.The company's revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.43 EPS. International Business Machines has set its FY 2025 guidance at EPS. On average, equities analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were issued a $1.68 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.5%. International Business Machines's dividend payout ratio is presently 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.