Summit Financial Strategies Inc. Takes Position in International Business Machines Corporation $IBM

Summit Financial Strategies Inc. bought a new position in shares of International Business Machines Corporation (NYSE:IBM) in the second quarter, HoldingsChannel reports. The firm bought 799 shares of the technology company’s stock, valued at approximately $236,000.

A number of other institutional investors also recently modified their holdings of IBM. Christopher J. Hasenberg Inc purchased a new stake in shares of International Business Machines during the first quarter worth about $27,000. SSA Swiss Advisors AG purchased a new stake in shares of International Business Machines during the first quarter worth about $28,000. Dagco Inc. purchased a new stake in shares of International Business Machines during the first quarter worth about $31,000. Silicon Valley Capital Partners boosted its holdings in shares of International Business Machines by 322.6% during the first quarter. Silicon Valley Capital Partners now owns 131 shares of the technology company’s stock worth $32,000 after purchasing an additional 100 shares during the period. Finally, Highline Wealth Partners LLC lifted its holdings in International Business Machines by 85.0% in the second quarter. Highline Wealth Partners LLC now owns 111 shares of the technology company’s stock worth $33,000 after buying an additional 51 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IBM has been the subject of several research analyst reports. Wedbush raised their price objective on shares of International Business Machines from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, June 20th. The Goldman Sachs Group raised their price objective on shares of International Business Machines from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. Wall Street Zen upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. BMO Capital Markets raised their price objective on shares of International Business Machines from $260.00 to $300.00 and gave the stock a “market perform” rating in a report on Friday, July 18th. Finally, Erste Group Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $275.00.

International Business Machines Price Performance

IBM stock opened at $280.02 on Tuesday. The firm has a 50 day moving average price of $253.98 and a 200-day moving average price of $258.34. International Business Machines Corporation has a 52-week low of $203.51 and a 52-week high of $296.16. The firm has a market capitalization of $260.25 billion, a price-to-earnings ratio of 45.46, a PEG ratio of 4.38 and a beta of 0.71. 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 (NYSE:IBM) last released its earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.15. The firm had revenue of $16.98 billion during the quarter, compared to analyst estimates of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The business’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the business earned $2.43 earnings per share. International Business Machines has set its FY 2025 guidance at EPS. Equities research analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

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