Zullo Investment Group Inc. Has $1.35 Million Stake in International Business Machines Corporation $IBM

Zullo Investment Group Inc. lowered its position in International Business Machines Corporation (NYSE:IBM) by 53.0% during the second quarter, Holdings Channel reports. The firm owned 4,585 shares of the technology company’s stock after selling 5,162 shares during the period. Zullo Investment Group Inc.’s holdings in International Business Machines were worth $1,352,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. PDS Planning Inc lifted its position in shares of International Business Machines by 7.7% in the 2nd quarter. PDS Planning Inc now owns 6,025 shares of the technology company’s stock worth $1,776,000 after purchasing an additional 431 shares during the period. JB Capital LLC increased its stake in shares of International Business Machines by 1.4% in the 2nd quarter. JB Capital LLC now owns 3,891 shares of the technology company’s stock valued at $1,147,000 after acquiring an additional 55 shares in the last quarter. Robertson Stephens Wealth Management LLC increased its stake in shares of International Business Machines by 1.8% in the 2nd quarter. Robertson Stephens Wealth Management LLC now owns 13,914 shares of the technology company’s stock valued at $4,102,000 after acquiring an additional 252 shares in the last quarter. Cascade Investment Group Inc. increased its stake in shares of International Business Machines by 1.8% in the 2nd quarter. Cascade Investment Group Inc. now owns 5,544 shares of the technology company’s stock valued at $1,634,000 after acquiring an additional 96 shares in the last quarter. Finally, Cyndeo Wealth Partners LLC increased its stake in shares of International Business Machines by 1.4% in the 2nd quarter. Cyndeo Wealth Partners LLC now owns 13,976 shares of the technology company’s stock valued at $4,120,000 after acquiring an additional 194 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Performance

NYSE IBM opened at $278.09 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00. The company has a market cap of $258.45 billion, a P/E ratio of 45.14, a PEG ratio of 4.44 and a beta of 0.73. The company has a fifty day simple moving average of $258.19 and a 200 day simple moving average of $260.60. International Business Machines Corporation has a 12-month low of $203.51 and a 12-month high of $301.04.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.15. The firm had revenue of $16.98 billion for 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 business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.43 EPS. International Business Machines has set its FY 2025 guidance at EPS. Sell-side analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Friday, August 8th. International Business Machines’s payout ratio is currently 109.09%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on IBM shares. Erste Group Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Thursday, August 14th. BMO Capital Markets lifted their price objective on shares of 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. Sanford C. Bernstein started coverage on shares of International Business Machines in a research note on Monday, September 15th. They issued a “market perform” rating and a $280.00 price objective for the company. 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 research note on Thursday, July 17th. Finally, Melius Research raised shares of International Business Machines to a “strong-buy” rating in a research report on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $284.62.

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.