International Business Machines Corporation $IBM Shares Purchased by Adirondack Trust Co.

Adirondack Trust Co. grew its stake in International Business Machines Corporation (NYSE:IBM) by 0.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,426 shares of the technology company’s stock after acquiring an additional 72 shares during the quarter. International Business Machines comprises approximately 0.9% of Adirondack Trust Co.’s portfolio, making the stock its 27th biggest holding. Adirondack Trust Co.’s holdings in International Business Machines were worth $2,484,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. MinichMacGregor Wealth Management LLC purchased a new position in International Business Machines during the first quarter worth approximately $396,000. Brooklyn Investment Group grew its position in International Business Machines by 32.7% during the first quarter. Brooklyn Investment Group now owns 6,622 shares of the technology company’s stock valued at $1,647,000 after acquiring an additional 1,630 shares during the period. Edgar Lomax Co. VA grew its position in International Business Machines by 5.7% during the first quarter. Edgar Lomax Co. VA now owns 235,967 shares of the technology company’s stock valued at $58,676,000 after acquiring an additional 12,690 shares during the period. Left Brain Wealth Management LLC lifted its stake 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 purchasing an additional 16,592 shares in the last quarter. Finally, Alpha Cubed Investments LLC raised its holdings 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 valued at $1,867,000 after buying an additional 2,399 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Up 0.8%

IBM stock opened at $267.19 on Friday. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87. International Business Machines Corporation has a 12 month low of $203.51 and a 12 month high of $296.16. The firm has a market cap of $248.33 billion, a PE ratio of 43.38, a P/E/G ratio of 4.08 and a beta of 0.71. The firm has a 50 day simple moving average of $254.82 and a 200 day simple moving average of $257.21.

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. The firm had revenue of $16.98 billion for the quarter, compared to analysts’ expectations of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.43 EPS. 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 fiscal year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were paid a dividend of $1.68 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.5%. International Business Machines’s dividend payout ratio (DPR) is 109.09%.

Analysts Set New Price Targets

A number of analysts recently weighed in on IBM shares. Melius Research raised shares of International Business Machines to a “strong-buy” rating in a research report on Monday, July 7th. Sanford C. Bernstein started coverage on International Business Machines in a research report on Monday. They set a “market perform” rating and a $280.00 target price on the stock. BMO Capital Markets raised their price objective on International Business Machines from $260.00 to $300.00 and gave the company a “market perform” rating in a research note on Friday, July 18th. JPMorgan Chase & Co. boosted their target price on shares of International Business Machines from $244.00 to $290.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Finally, Stifel Nicolaus lifted their price target on International Business Machines from $290.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $275.00.

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.