Cornerstone Wealth Group LLC Acquires 539 Shares of International Business Machines Corporation $IBM

Cornerstone Wealth Group LLC lifted its holdings in International Business Machines Corporation (NYSE:IBM) by 13.3% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 4,599 shares of the technology company’s stock after acquiring an additional 539 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in International Business Machines were worth $1,356,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in IBM. Brighton Jones LLC raised its holdings in International Business Machines by 12.4% during the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock valued at $4,619,000 after buying an additional 2,323 shares during the last quarter. GAMMA Investing LLC raised its holdings in International Business Machines by 19.3% during the 1st quarter. GAMMA Investing LLC now owns 17,694 shares of the technology company’s stock valued at $4,400,000 after buying an additional 2,862 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in International Business Machines by 27.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,158,366 shares of the technology company’s stock valued at $288,039,000 after buying an additional 250,283 shares during the last quarter. Dohj LLC bought a new stake in International Business Machines during the 1st quarter valued at $225,000. Finally, Ritholtz Wealth Management raised its holdings in International Business Machines by 20.1% during the 1st quarter. Ritholtz Wealth Management now owns 14,115 shares of the technology company’s stock valued at $3,510,000 after buying an additional 2,362 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on IBM. JPMorgan Chase & Co. upped their price target on shares of International Business Machines from $244.00 to $290.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. UBS Group upped their price target on shares of International Business Machines from $195.00 to $200.00 and gave the company a “sell” rating in a report on Thursday, July 24th. Stifel Nicolaus upped their price target on shares of International Business Machines from $290.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. Wall Street Zen upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Finally, BMO Capital Markets raised their target price on shares of International Business Machines from $260.00 to $300.00 and gave the stock a “market perform” rating in a research report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $284.62.

International Business Machines Trading Down 0.2%

Shares of NYSE IBM opened at $277.21 on Tuesday. 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 $257.64 billion, a P/E ratio of 45.00, a price-to-earnings-growth ratio of 4.28 and a beta of 0.73. The firm has a 50-day moving average of $258.69 and a 200 day moving average of $261.01. 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 (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 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 company had revenue of $16.98 billion during the quarter, compared to analysts’ expectations of $16.58 billion. During the same period last year, the company posted $2.43 EPS. International Business Machines’s revenue was up 7.7% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm 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. This represents a $6.72 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Friday, August 8th. 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.