Syntegra Private Wealth Group LLC Sells 557 Shares of International Business Machines Corporation $IBM

Syntegra Private Wealth Group LLC reduced its stake in shares of International Business Machines Corporation (NYSE:IBM) by 10.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,928 shares of the technology company’s stock after selling 557 shares during the quarter. Syntegra Private Wealth Group LLC’s holdings in International Business Machines were worth $1,453,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Triton Financial Group Inc acquired a new stake in International Business Machines during the second quarter worth about $2,259,000. Clune & Associates LTD. lifted its holdings in shares of International Business Machines by 25.5% during the 2nd quarter. Clune & Associates LTD. now owns 1,315 shares of the technology company’s stock worth $388,000 after acquiring an additional 267 shares during the period. Klingman & Associates LLC boosted its position in shares of International Business Machines by 7.8% during the 2nd quarter. Klingman & Associates LLC now owns 5,046 shares of the technology company’s stock worth $1,487,000 after acquiring an additional 364 shares in the last quarter. Atlantic Edge Private Wealth Management LLC increased its stake in International Business Machines by 0.5% in the second quarter. Atlantic Edge Private Wealth Management LLC now owns 9,148 shares of the technology company’s stock valued at $2,697,000 after acquiring an additional 41 shares during the last quarter. Finally, Pittenger & Anderson Inc. raised its position in International Business Machines by 2.6% during the second quarter. Pittenger & Anderson Inc. now owns 16,330 shares of the technology company’s stock valued at $4,814,000 after purchasing an additional 420 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Up 0.8%

NYSE:IBM opened at $283.64 on Tuesday. International Business Machines Corporation has a 52 week low of $203.51 and a 52 week high of $301.04. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. The firm’s fifty day moving average is $262.02 and its 200-day moving average is $262.25. The firm has a market cap of $263.61 billion, a P/E ratio of 46.05, a P/E/G ratio of 4.33 and a beta of 0.73.

International Business Machines (NYSE:IBM) last announced its earnings results 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 business had revenue of $16.98 billion during the quarter, compared to the consensus estimate of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. International Business Machines’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.43 earnings per share. 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 year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were paid a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Friday, August 8th. International Business Machines’s payout ratio is 109.09%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on IBM shares. Erste Group Bank downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Thursday, August 14th. The Goldman Sachs Group boosted their target price on International Business Machines from $270.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. Stifel Nicolaus increased their price target on International Business Machines from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. Weiss Ratings restated a “hold (c+)” rating on shares of International Business Machines in a report on Wednesday, October 8th. Finally, BMO Capital Markets raised their price objective on shares of International Business Machines from $260.00 to $300.00 and gave the company a “market perform” rating in a report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $286.38.

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.