JGP Wealth Management LLC Purchases 299 Shares of International Business Machines Corporation $IBM

JGP Wealth Management LLC increased its position in International Business Machines Corporation (NYSE:IBM) by 20.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,738 shares of the technology company’s stock after buying an additional 299 shares during the quarter. JGP Wealth Management LLC’s holdings in International Business Machines were worth $512,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of IBM. MinichMacGregor Wealth Management LLC purchased a new stake in International Business Machines in the first quarter worth $396,000. Brooklyn Investment Group grew its stake in International Business Machines by 32.7% in the first quarter. Brooklyn Investment Group now owns 6,622 shares of the technology company’s stock worth $1,647,000 after purchasing an additional 1,630 shares during the period. Edgar Lomax Co. VA grew its stake in International Business Machines by 5.7% in the first quarter. Edgar Lomax Co. VA now owns 235,967 shares of the technology company’s stock worth $58,676,000 after purchasing an additional 12,690 shares during the period. Left Brain Wealth Management LLC grew its stake in International Business Machines by 1,547.8% in the first quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company’s stock worth $4,392,000 after purchasing an additional 16,592 shares during the period. Finally, Alpha Cubed Investments LLC grew its stake in International Business Machines by 47.0% in the first quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company’s stock worth $1,867,000 after purchasing an additional 2,399 shares during the period. Institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on IBM shares. Royal Bank Of Canada boosted their target price on International Business Machines from $285.00 to $315.00 and gave the stock an “outperform” rating in a report on Thursday, July 17th. Erste Group Bank downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Thursday, August 14th. The Goldman Sachs Group boosted their target price on International Business Machines from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. Weiss Ratings reissued a “hold (c+)” rating on shares of International Business Machines in a report on Wednesday, October 8th. Finally, UBS Group boosted their target price on International Business Machines from $195.00 to $200.00 and gave the stock a “sell” rating in a report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $284.62.

International Business Machines Stock Performance

Shares of IBM opened at $276.12 on Wednesday. The business has a 50-day simple moving average of $259.20 and a two-hundred day simple moving average of $261.11. 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 Corporation has a 52 week low of $203.51 and a 52 week high of $301.04. The stock has a market cap of $256.63 billion, a price-to-earnings ratio of 44.83, a PEG ratio of 4.27 and a beta of 0.73.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS 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 company 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 firm earned $2.43 EPS. The firm’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, analysts expect that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were issued a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.4%. The ex-dividend date was Friday, August 8th. International Business Machines’s dividend payout ratio (DPR) is currently 109.09%.

International Business Machines Company 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.