Symphony Financial Services Inc. Takes $218,000 Position in International Business Machines Corporation $IBM

Symphony Financial Services Inc. acquired a new position in International Business Machines Corporation (NYSE:IBM) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 738 shares of the technology company’s stock, valued at approximately $218,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC lifted its holdings in shares of International Business Machines by 12.4% during the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock valued at $4,619,000 after purchasing an additional 2,323 shares during the last quarter. Edgestream Partners L.P. raised its holdings in International Business Machines by 39.5% during the 1st quarter. Edgestream Partners L.P. now owns 8,567 shares of the technology company’s stock worth $2,130,000 after buying an additional 2,424 shares during the period. Apollon Financial LLC lifted its stake in International Business Machines by 5.7% during the first quarter. Apollon Financial LLC now owns 979 shares of the technology company’s stock valued at $243,000 after buying an additional 53 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of International Business Machines by 22.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 320,514 shares of the technology company’s stock worth $79,699,000 after buying an additional 59,730 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. increased its position in shares of International Business Machines by 4.5% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 29,153 shares of the technology company’s stock worth $7,249,000 after acquiring an additional 1,249 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on IBM shares. Weiss Ratings raised shares of International Business Machines from a “hold (c+)” rating to a “buy (b)” rating in a research note on Saturday, October 25th. Sanford C. Bernstein initiated coverage on International Business Machines in a research report on Monday, September 15th. They set a “market perform” rating and a $280.00 price target on the stock. Erste Group Bank lowered International Business Machines from a “buy” rating to a “hold” rating in a research report on Thursday, August 14th. Stifel Nicolaus lowered their target price on International Business Machines from $310.00 to $295.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. Finally, Bank of America lifted their target price on shares of International Business Machines from $310.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven 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 a consensus rating of “Moderate Buy” and an average price target of $288.00.

International Business Machines Trading Up 1.6%

International Business Machines stock opened at $313.98 on Wednesday. International Business Machines Corporation has a 52 week low of $204.07 and a 52 week high of $319.35. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.89 and a current ratio of 0.93. The firm has a market capitalization of $293.49 billion, a PE ratio of 37.56, a PEG ratio of 4.33 and a beta of 0.71. The business’s 50-day simple moving average is $282.22 and its 200-day simple moving average is $270.32.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 22nd. The technology company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.45 by $0.20. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.The company had revenue of $16.33 billion for the quarter, compared to the consensus estimate of $16.10 billion. During the same period in the previous year, the business posted $2.30 EPS. The company’s revenue for the quarter was up 9.1% 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th will be issued a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Monday, November 10th. International Business Machines’s dividend payout ratio (DPR) is presently 80.38%.

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.