NewEdge Advisors LLC Purchases 24,860 Shares of International Business Machines Corporation $IBM
NewEdge Advisors LLC increased its stake in International Business Machines Corporation (IBM) by 9.0% in Q1, acquiring an additional 24,860 shares, bringing its total to 299,884 shares valued at $74.57 million. Other institutional investors also adjusted their holdings. Analysts have mixed ratings on IBM, with a consensus rating of "Hold" and a target price of $268.75. IBM's stock opened at $247.27, with a 12-month range of $199.34 to $296.16. The company reported better-than-expected earnings of $2.80 per share for the last quarter, with revenue of $16.98 billion.
NewEdge Advisors LLC increased its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 9.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 299,884 shares of the technology company's stock after purchasing an additional 24,860 shares during the period. NewEdge Advisors LLC's holdings in International Business Machines were worth $74,569,000 at the end of the most recent reporting period.
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Several other institutional investors and hedge funds have also recently modified their holdings of IBM. Blue Edge Capital LLC increased its position in International Business Machines by 0.6% during the first 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 during the last quarter. Tacita Capital Inc increased its position in International Business Machines by 20.8% during the first quarter. Tacita Capital Inc now owns 232 shares of the technology company's stock worth $58,000 after purchasing an additional 40 shares during the last quarter. Pallas Capital Advisors LLC boosted its stake in International Business Machines by 0.9% during the first quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company's stock worth $1,195,000 after buying an additional 42 shares during the period. DMC Group LLC boosted its stake in International Business Machines by 1.2% during the first quarter. DMC Group LLC now owns 3,517 shares of the technology company's stock worth $875,000 after buying an additional 42 shares during the period. Finally, Fidato Wealth LLC boosted its stake in International Business Machines by 2.4% during the first quarter. Fidato Wealth LLC now owns 1,824 shares of the technology company's stock worth $454,000 after buying an additional 42 shares during the period. 58.96% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the stock. Wedbush increased their target price on shares of International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. Bank of America decreased 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 note on Thursday, July 24th. UBS Group raised their price objective on shares of International Business Machines from $195.00 to $200.00 and gave the stock a "sell" rating in a report on Thursday, July 24th. Melius Research raised shares of International Business Machines to a "strong-buy" rating in a report on Monday, July 7th. Finally, Stifel Nicolaus raised their price objective on shares of International Business Machines from $290.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, International Business Machines has a consensus rating of "Hold" and a consensus target price of $268.75.
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International Business Machines Trading Up 1.3%
NYSE IBM opened at $247.27 on Friday. International Business Machines Corporation has a 12 month low of $199.34 and a 12 month high of $296.16. The company has a 50-day moving average of $261.90 and a 200-day moving average of $257.21. 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 company has a market cap of $229.81 billion, a P/E ratio of 40.14, a P/E/G ratio of 3.76 and a beta of 0.71.
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International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, beating analysts' consensus estimates of $2.65 by $0.15. The company had revenue of $16.98 billion during 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 company's quarterly 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 EPS. International Business Machines has set its FY 2025 guidance at EPS. As a group, equities analysts predict 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 announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 8th will be given a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, August 8th. International Business Machines's dividend payout ratio is 109.09%.
International Business Machines Company Profile
(Free Report)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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