International Business Machines Corporation $IBM Shares Bought by Concord Asset Management LLC VA

Concord Asset Management LLC VA boosted its position in shares of International Business Machines Corporation (NYSE:IBM) by 60.8% in the 2nd quarter, HoldingsChannel reports. The fund owned 6,204 shares of the technology company’s stock after acquiring an additional 2,345 shares during the period. Concord Asset Management LLC VA’s holdings in International Business Machines were worth $1,829,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MinichMacGregor Wealth Management LLC acquired a new position in International Business Machines during the 1st quarter worth approximately $396,000. Brooklyn Investment Group boosted its holdings in shares of International Business Machines by 32.7% in the 1st quarter. Brooklyn Investment Group now owns 6,622 shares of the technology company’s stock valued at $1,647,000 after buying an additional 1,630 shares in the last quarter. Edgar Lomax Co. VA boosted its holdings in shares of International Business Machines by 5.7% in the 1st quarter. Edgar Lomax Co. VA now owns 235,967 shares of the technology company’s stock valued at $58,676,000 after buying an additional 12,690 shares in the last quarter. Left Brain Wealth Management LLC boosted its holdings in shares of International Business Machines by 1,547.8% in 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 buying an additional 16,592 shares in the last quarter. Finally, Alpha Cubed Investments LLC boosted its holdings 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 buying an additional 2,399 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of International Business Machines from $244.00 to $290.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Weiss Ratings restated a “hold (c+)” rating on shares of International Business Machines in a research report on Wednesday, October 8th. Erste Group Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Thursday, August 14th. Sanford C. Bernstein assumed 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 on the stock. Finally, UBS Group raised their price target on shares of International Business Machines from $195.00 to $200.00 and gave the stock a “sell” rating in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given 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.com, the stock currently has an average rating of “Hold” and an average target price of $284.62.

International Business Machines Stock Down 3.5%

IBM stock opened at $278.09 on Monday. International Business Machines Corporation has a 1-year low of $203.51 and a 1-year high of $301.04. The firm has a market cap of $258.45 billion, a price-to-earnings ratio of 45.14, a PEG ratio of 4.28 and a beta of 0.73. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87. The firm has a fifty day moving average price of $258.19 and a two-hundred day moving average price of $260.78.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS 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 firm had revenue of $16.98 billion for the quarter, compared to analysts’ expectations of $16.58 billion. During the same period in the previous year, the business earned $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. Research analysts predict that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were issued a $1.68 dividend. The ex-dividend date was Friday, August 8th. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.4%. 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.