Hobbs Group Advisors LLC Invests $246,000 in International Business Machines Corporation $IBM

Hobbs Group Advisors LLC purchased a new position in shares of International Business Machines Corporation (NYSE:IBM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 835 shares of the technology company’s stock, valued at approximately $246,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of International Business Machines by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 93,137,767 shares of the technology company’s stock worth $23,159,637,000 after purchasing an additional 1,298,515 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of International Business Machines by 6.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,636,725 shares of the technology company’s stock worth $2,147,608,000 after purchasing an additional 524,633 shares during the period. Ameriprise Financial Inc. increased its position in International Business Machines by 1.0% in the 1st quarter. Ameriprise Financial Inc. now owns 5,516,240 shares of the technology company’s stock valued at $1,371,812,000 after acquiring an additional 52,317 shares during the period. Goldman Sachs Group Inc. increased its position in International Business Machines by 20.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,157,846 shares of the technology company’s stock valued at $1,282,550,000 after acquiring an additional 889,008 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in International Business Machines by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,108,455 shares of the technology company’s stock valued at $1,270,022,000 after acquiring an additional 24,790 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on IBM. Royal Bank Of Canada raised 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. Stifel Nicolaus raised their target price on International Business Machines from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. JPMorgan Chase & Co. raised 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. UBS Group raised their target price on International Business Machines from $195.00 to $200.00 and gave the company a “sell” rating in a research report on Thursday, July 24th. Finally, The Goldman Sachs Group raised their target price on International Business Machines from $270.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, International Business Machines currently has an average rating of “Hold” and a consensus target price of $284.62.

International Business Machines Stock Down 3.5%

Shares of IBM stock opened at $278.09 on Friday. International Business Machines Corporation has a 1 year low of $203.51 and a 1 year high of $301.04. The stock has a market cap of $258.45 billion, a PE ratio of 45.14, a price-to-earnings-growth ratio of 4.28 and a beta of 0.73. The business’s fifty day moving average is $258.19 and its 200-day moving average is $260.68. 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 issued its quarterly 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. 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 last year, the firm earned $2.43 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. Equities analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders 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 annualized dividend and a dividend yield of 2.4%. 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.