Meritage Portfolio Management Trims Position in International Business Machines Corporation $IBM

Meritage Portfolio Management lessened its position in shares of International Business Machines Corporation (NYSE:IBM) by 1.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 31,312 shares of the technology company’s stock after selling 410 shares during the quarter. Meritage Portfolio Management’s holdings in International Business Machines were worth $9,230,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of IBM. Brighton Jones LLC increased its position in International Business Machines by 12.4% in the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock worth $4,619,000 after buying an additional 2,323 shares in the last quarter. GAMMA Investing LLC increased its position in International Business Machines by 19.3% in the first quarter. GAMMA Investing LLC now owns 17,694 shares of the technology company’s stock worth $4,400,000 after buying an additional 2,862 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in International Business Machines in the first quarter worth about $228,000. West Branch Capital LLC increased its position in International Business Machines by 92.0% in the first quarter. West Branch Capital LLC now owns 4,426 shares of the technology company’s stock worth $1,101,000 after buying an additional 2,121 shares in the last quarter. Finally, Tudor Financial Inc. increased its position in International Business Machines by 46.6% in the first quarter. Tudor Financial Inc. now owns 2,307 shares of the technology company’s stock worth $574,000 after buying an additional 733 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. UBS Group upped their price target on International Business Machines from $195.00 to $200.00 and gave the stock a “sell” rating in a research report on Thursday, July 24th. Weiss Ratings reiterated a “hold (c+)” rating on shares of International Business Machines in a research report on Wednesday. JPMorgan Chase & Co. increased their target price 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. Wall Street Zen upgraded International Business Machines from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Finally, Wedbush increased their target price on International Business Machines from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, June 20th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and an average price target of $284.62.

International Business Machines Stock Performance

NYSE:IBM opened at $278.09 on Friday. The stock has a 50-day moving average price of $258.19 and a 200 day moving average price of $260.68. International Business Machines Corporation has a 12-month low of $203.51 and a 12-month high of $301.04. The stock has a market capitalization of $258.45 billion, a P/E ratio of 45.14, a P/E/G ratio of 4.28 and a beta of 0.73. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS 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 during the quarter, compared to analyst estimates of $16.58 billion. During the same period in the prior year, the company earned $2.43 earnings per share. The firm’s 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 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a yield of 2.4%. International Business Machines’s dividend payout ratio is presently 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.