Eastern Bank Raises Stock Holdings in International Business Machines Corporation $IBM

Eastern Bank lifted its holdings in International Business Machines Corporation (NYSE:IBM) by 2.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,332 shares of the technology company’s stock after buying an additional 887 shares during the quarter. Eastern Bank’s holdings in International Business Machines were worth $9,826,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Aberdeen Group plc grew its stake in International Business Machines by 7.2% in the second quarter. Aberdeen Group plc now owns 1,091,090 shares of the technology company’s stock worth $319,760,000 after purchasing an additional 72,846 shares in the last quarter. PDS Planning Inc grew its stake in International Business Machines by 7.7% in the second quarter. PDS Planning Inc now owns 6,025 shares of the technology company’s stock worth $1,776,000 after purchasing an additional 431 shares in the last quarter. JB Capital LLC grew its stake in International Business Machines by 1.4% in the second quarter. JB Capital LLC now owns 3,891 shares of the technology company’s stock worth $1,147,000 after purchasing an additional 55 shares in the last quarter. Robertson Stephens Wealth Management LLC grew its stake in International Business Machines by 1.8% in the second quarter. Robertson Stephens Wealth Management LLC now owns 13,914 shares of the technology company’s stock worth $4,102,000 after purchasing an additional 252 shares in the last quarter. Finally, Cascade Investment Group Inc. grew its stake in International Business Machines by 1.8% in the second quarter. Cascade Investment Group Inc. now owns 5,544 shares of the technology company’s stock worth $1,634,000 after purchasing an additional 96 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on IBM shares. Wall Street Zen raised International Business Machines from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Weiss Ratings reissued a “hold (c+)” rating on shares of International Business Machines in a research note on Wednesday. JPMorgan Chase & Co. increased their target price on International Business Machines from $244.00 to $290.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Royal Bank Of Canada increased 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. Finally, Sanford C. Bernstein began coverage on International Business Machines in a research report on Monday, September 15th. They set a “market perform” rating and a $280.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and a consensus target price of $284.62.

International Business Machines Stock Down 3.5%

International Business Machines stock opened at $278.09 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. The stock has a market capitalization of $258.45 billion, a price-to-earnings ratio of 45.14, a PEG ratio of 4.44 and a beta of 0.73. International Business Machines Corporation has a 1-year low of $203.51 and a 1-year high of $301.04. The business has a fifty day moving average price of $258.19 and a 200-day moving average price of $260.60.

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 analysts’ consensus estimates of $2.65 by $0.15. The firm had revenue of $16.98 billion during the quarter, compared to analysts’ expectations of $16.58 billion. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $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 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were given a $1.68 dividend. 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 2.4%. International Business Machines’s dividend payout ratio (DPR) 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.