New Covenant Trust Company N.A. Makes New $238,000 Investment in International Business Machines Corporation $IBM

New Covenant Trust Company N.A. bought a new position in International Business Machines Corporation (NYSE:IBM) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 822 shares of the technology company’s stock, valued at approximately $238,000.

Other large investors also recently made changes to their positions in the company. Moss Adams Wealth Advisors LLC boosted its holdings in International Business Machines by 2.2% during the second quarter. Moss Adams Wealth Advisors LLC now owns 7,560 shares of the technology company’s stock worth $2,229,000 after purchasing an additional 162 shares during the last quarter. GC Wealth Management RIA LLC lifted its position in shares of International Business Machines by 683.5% during the 2nd quarter. GC Wealth Management RIA LLC now owns 7,780 shares of the technology company’s stock worth $2,293,000 after buying an additional 6,787 shares in the last quarter. Alpine Bank Wealth Management boosted its stake in shares of International Business Machines by 1.0% in the 2nd quarter. Alpine Bank Wealth Management now owns 4,137 shares of the technology company’s stock worth $1,220,000 after buying an additional 42 shares during the last quarter. Capital Insight Partners LLC bought a new position in shares of International Business Machines in the second quarter valued at approximately $229,000. Finally, Forefront Wealth Management Inc. purchased a new stake in shares of International Business Machines during the second quarter valued at approximately $216,000. 58.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

IBM has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on International Business Machines from $244.00 to $290.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Wall Street Zen raised shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. BMO Capital Markets increased their price target on shares of International Business Machines from $260.00 to $300.00 and gave the company a “market perform” rating in a research report on Friday, July 18th. Stifel Nicolaus lifted their price objective on shares of International Business Machines from $290.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Finally, Wedbush raised their price target on shares of International Business Machines from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, June 20th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $275.00.

International Business Machines Stock Performance

Shares of IBM stock opened at $284.72 on Monday. The firm’s 50 day moving average is $254.07 and its 200 day moving average is $258.11. The stock has a market capitalization of $264.62 billion, a P/E ratio of 46.22, a PEG ratio of 4.38 and a beta of 0.71. International Business Machines Corporation has a 12 month low of $203.51 and a 12 month high of $296.16. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $16.58 billion. During the same quarter in the previous year, the firm posted $2.43 EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. International Business Machines has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current 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 $1.68 dividend. The ex-dividend date was Friday, August 8th. This represents a $6.72 annualized dividend and a yield of 2.4%. International Business Machines’s dividend payout ratio (DPR) is currently 109.09%.

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.