Fingerlakes Wealth Management Inc. Has $360,000 Stake in International Business Machines Corporation $IBM

Fingerlakes Wealth Management Inc. cut its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 4.0% during the second quarter, Holdings Channel reports. The fund owned 1,222 shares of the technology company’s stock after selling 51 shares during the quarter. Fingerlakes Wealth Management Inc.’s holdings in International Business Machines were worth $360,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. GQG Partners LLC acquired a new position in shares of International Business Machines in the first quarter valued at $1,040,057,000. Nuveen LLC acquired a new stake in shares of International Business Machines during the 1st quarter worth about $960,386,000. Vanguard Group Inc. boosted its holdings in shares of International Business Machines by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 93,137,767 shares of the technology company’s stock worth $23,159,637,000 after buying an additional 1,298,515 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of International Business Machines by 41.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,164,987 shares of the technology company’s stock worth $787,007,000 after buying an additional 930,448 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in International Business Machines by 20.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,157,846 shares of the technology company’s stock valued at $1,282,550,000 after buying an additional 889,008 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

IBM opened at $283.64 on Tuesday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. International Business Machines Corporation has a 52-week low of $203.51 and a 52-week high of $301.04. The firm has a market cap of $263.61 billion, a P/E ratio of 46.05, a price-to-earnings-growth ratio of 4.33 and a beta of 0.73. The business’s fifty day moving average is $262.02 and its 200-day moving average is $262.25.

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 business had revenue of $16.98 billion during the quarter, compared to analysts’ expectations of $16.58 billion. During the same quarter in the prior year, the business posted $2.43 earnings per share. International Business Machines’s revenue was up 7.7% compared to the same quarter last year. International Business Machines has set its FY 2025 guidance at EPS. Sell-side analysts expect that International Business Machines Corporation will post 10.78 EPS 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. Investors of record on Friday, August 8th were paid a $1.68 dividend. 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 dividend payout ratio (DPR) is 109.09%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on IBM shares. Sanford C. Bernstein started coverage on shares of International Business Machines in a research report on Monday, September 15th. They set a “market perform” rating and a $280.00 price objective for the company. Bank of America dropped their price target on International Business Machines from $320.00 to $310.00 and set a “buy” rating for the company in a report on Thursday, July 24th. BMO Capital Markets upped their price objective on International Business Machines from $260.00 to $300.00 and gave the company a “market perform” rating in a report on Friday, July 18th. Wall Street Zen downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Erste Group Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and a consensus target price of $286.38.

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.