Riverchase Wealth Management LLC Acquires Shares of 786 International Business Machines Corporation $IBM

Riverchase Wealth Management LLC acquired a new stake in International Business Machines Corporation (NYSE:IBM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 786 shares of the technology company’s stock, valued at approximately $232,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IBM. Family CFO Inc bought a new position in shares of International Business Machines during the second quarter worth $25,000. Christopher J. Hasenberg Inc bought a new stake in International Business Machines in the 1st quarter valued at $27,000. SSA Swiss Advisors AG bought a new stake in International Business Machines during the 1st quarter worth about $28,000. Dagco Inc. bought a new stake in International Business Machines during the 1st quarter worth about $31,000. Finally, Silicon Valley Capital Partners lifted its position in International Business Machines by 322.6% during the 1st quarter. Silicon Valley Capital Partners now owns 131 shares of the technology company’s stock worth $32,000 after buying an additional 100 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on IBM shares. 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. Melius Research raised shares of International Business Machines to a “strong-buy” rating in a report on Monday, July 7th. Sanford C. Bernstein started coverage on shares of International Business Machines in a report on Monday, September 15th. They issued a “market perform” rating and a $280.00 price objective for the company. BMO Capital Markets upped their price target on shares of International Business Machines from $260.00 to $300.00 and gave the stock a “market perform” rating in a report on Friday, July 18th. Finally, Bank of America cut 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 report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $284.62.

International Business Machines Trading Down 0.5%

Shares of NYSE IBM opened at $288.14 on Friday. International Business Machines Corporation has a 52-week low of $203.51 and a 52-week high of $301.04. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. The firm has a 50 day moving average price of $257.62 and a two-hundred day moving average price of $260.41. The stock has a market cap of $267.80 billion, a P/E ratio of 46.78, a price-to-earnings-growth ratio of 4.46 and a beta of 0.73.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, topping 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 company had revenue of $16.98 billion during the quarter, compared to analysts’ expectations of $16.58 billion. During the same period in the prior year, the company posted $2.43 earnings per share. International Business Machines’s revenue for the quarter was up 7.7% compared to the same quarter last year. International Business Machines has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Friday, August 8th. This represents a $6.72 annualized dividend and a yield of 2.3%. International Business Machines’s dividend payout ratio is currently 109.09%.

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.