Abacus Planning Group Inc. Acquires 70 Shares of International Business Machines Corporation $IBM

Abacus Planning Group Inc. lifted its holdings in International Business Machines Corporation (NYSE:IBM) by 2.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,472 shares of the technology company’s stock after acquiring an additional 70 shares during the period. Abacus Planning Group Inc.’s holdings in International Business Machines were worth $1,023,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in IBM. MinichMacGregor Wealth Management LLC bought a new stake in International Business Machines in the 1st quarter valued at about $396,000. Brooklyn Investment Group increased its position in 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 increased its position in 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 increased its position in 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 increased its position in 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. 58.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

IBM has been the subject of a number of research analyst reports. Royal Bank Of Canada boosted their target price on International Business Machines from $285.00 to $315.00 and gave the company an “outperform” rating in a research report on Thursday, July 17th. Bank of America decreased their target price on International Business Machines from $320.00 to $310.00 and set a “buy” rating for the company in a research report on Thursday, July 24th. Wedbush lifted their price target on International Business Machines from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday, June 20th. Wall Street Zen upgraded International Business Machines from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Finally, JPMorgan Chase & Co. lifted their price target on International Business Machines from $244.00 to $290.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $284.62.

International Business Machines Price Performance

Shares of NYSE IBM opened at $287.05 on Friday. International Business Machines Corporation has a twelve month low of $203.51 and a twelve month high of $296.16. The stock’s 50 day moving average price is $254.60 and its 200-day moving average price is $258.93. The company has a market capitalization of $266.78 billion, a PE ratio of 46.60, a PEG ratio of 4.41 and a beta of 0.73. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, topping 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 firm had revenue of $16.98 billion for the quarter, compared to the consensus estimate of $16.58 billion. During the same quarter in the previous year, the business earned $2.43 EPS. The company’s revenue was up 7.7% compared to the same quarter last year. International Business Machines has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were paid a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Friday, August 8th. International Business Machines’s payout ratio is presently 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.