International Business Machines Corporation $IBM Shares Bought by Bingham Private Wealth LLC

Bingham Private Wealth LLC raised its holdings in International Business Machines Corporation (NYSE:IBM) by 1.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 5,973 shares of the technology company’s stock after acquiring an additional 79 shares during the period. International Business Machines accounts for 1.6% of Bingham Private Wealth LLC’s holdings, making the stock its 12th biggest holding. Bingham Private Wealth LLC’s holdings in International Business Machines were worth $1,761,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MinichMacGregor Wealth Management LLC acquired a new stake in International Business Machines during the first quarter worth about $396,000. Brooklyn Investment Group boosted its position in International Business Machines by 32.7% in the 1st quarter. Brooklyn Investment Group now owns 6,622 shares of the technology company’s stock worth $1,647,000 after purchasing an additional 1,630 shares in the last quarter. Edgar Lomax Co. VA grew its stake in shares of International Business Machines by 5.7% during the 1st quarter. Edgar Lomax Co. VA now owns 235,967 shares of the technology company’s stock worth $58,676,000 after purchasing an additional 12,690 shares during the period. Left Brain Wealth Management LLC increased its holdings in shares of International Business Machines by 1,547.8% during the 1st quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company’s stock valued at $4,392,000 after purchasing an additional 16,592 shares in the last quarter. Finally, Alpha Cubed Investments LLC lifted its stake in shares of International Business Machines by 47.0% in the 1st quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company’s stock valued at $1,867,000 after purchasing an additional 2,399 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IBM has been the subject of a number of recent analyst reports. Royal Bank Of Canada lifted their price objective on shares of International Business Machines from $285.00 to $315.00 and gave the company an “outperform” rating in a report on Thursday, July 17th. Stifel Nicolaus raised their target price on International Business Machines from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. Melius Research raised International Business Machines to a “strong-buy” rating in a report on Monday, July 7th. JPMorgan Chase & Co. increased their price target on International Business Machines from $244.00 to $290.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Finally, Sanford C. Bernstein began coverage on International Business Machines in a research report on Monday, September 15th. They issued a “market perform” rating and a $280.00 price objective for the company. 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 stock. According to data from MarketBeat, International Business Machines currently has an average rating of “Hold” and a consensus target price of $284.62.

International Business Machines Stock Up 0.5%

Shares of IBM opened at $289.70 on Tuesday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. International Business Machines Corporation has a one year low of $203.51 and a one year high of $296.16. The stock has a market capitalization of $269.25 billion, a price-to-earnings ratio of 47.03, a PEG ratio of 4.44 and a beta of 0.73. The stock has a 50 day moving average price of $255.71 and a 200 day moving average price of $259.70.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.65 by $0.15. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.The company had revenue of $16.98 billion for the quarter, compared to analyst estimates of $16.58 billion. During the same quarter last year, the firm posted $2.43 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. Equities research 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were paid a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Friday, August 8th. International Business Machines’s dividend payout ratio is currently 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.