Elite Wealth Management Inc. Decreases Position in International Business Machines Corporation $IBM

Elite Wealth Management Inc. lessened its holdings in International Business Machines Corporation (NYSE:IBM) by 2.0% during the second quarter, Holdings Channel.com reports. The firm owned 4,252 shares of the technology company’s stock after selling 85 shares during the quarter. International Business Machines accounts for 0.4% of Elite Wealth Management Inc.’s investment portfolio, making the stock its 17th largest holding. Elite Wealth Management Inc.’s holdings in International Business Machines were worth $1,253,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in International Business Machines by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 93,137,767 shares of the technology company’s stock worth $23,159,637,000 after acquiring an additional 1,298,515 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in International Business Machines by 6.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,636,725 shares of the technology company’s stock worth $2,147,608,000 after acquiring an additional 524,633 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of International Business Machines by 1.0% during the 1st quarter. Ameriprise Financial Inc. now owns 5,516,240 shares of the technology company’s stock valued at $1,371,812,000 after purchasing an additional 52,317 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of International Business Machines by 20.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,157,846 shares of the technology company’s stock valued at $1,282,550,000 after purchasing an additional 889,008 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of International Business Machines by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,108,455 shares of the technology company’s stock valued at $1,270,022,000 after purchasing an additional 24,790 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Down 0.5%

IBM opened at $288.14 on Friday. 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 50 day moving average price of $257.62 and a 200-day moving average price of $260.41. International Business Machines Corporation has a twelve month low of $203.51 and a twelve month high of $301.04. The stock has a market capitalization of $267.80 billion, a price-to-earnings ratio of 46.78, a PEG ratio of 4.46 and a beta of 0.73.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $16.98 billion during the quarter, compared to analysts’ expectations of $16.58 billion. During the same period in the previous year, the company earned $2.43 earnings per share. The firm’s quarterly revenue 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 year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were paid 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 2.3%. International Business Machines’s dividend payout ratio is 109.09%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on IBM. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of International Business Machines in a research note on Wednesday. UBS Group lifted their target price on shares of International Business Machines from $195.00 to $200.00 and gave the company a “sell” rating in a research note on Thursday, July 24th. Melius Research raised shares of International Business Machines to a “strong-buy” rating in a research note on Monday, July 7th. JPMorgan Chase & Co. boosted their price objective on shares of International Business Machines from $244.00 to $290.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Finally, Royal Bank Of Canada boosted their price objective on shares of International Business Machines from $285.00 to $315.00 and gave the stock an “outperform” rating in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $284.62.

International Business Machines 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.