Summit Wealth & Retirement Planning Inc. Invests $208,000 in International Business Machines Corporation $IBM

Summit Wealth & Retirement Planning Inc. purchased a new stake in shares of International Business Machines Corporation (NYSE:IBM) in the 2nd quarter, Holdings Channel reports. The fund purchased 705 shares of the technology company’s stock, valued at approximately $208,000.

Several other institutional investors also recently bought and sold shares of the company. Lifestyle Asset Management Inc. grew its position in shares of International Business Machines by 1.7% during the 2nd quarter. Lifestyle Asset Management Inc. now owns 2,144 shares of the technology company’s stock worth $632,000 after buying an additional 36 shares in the last quarter. Whelan Financial raised its holdings in shares of International Business Machines by 2.4% in the second quarter. Whelan Financial now owns 1,525 shares of the technology company’s stock valued at $450,000 after acquiring an additional 36 shares in the last quarter. Ignite Planners LLC lifted its stake in International Business Machines by 0.9% in the second quarter. Ignite Planners LLC now owns 3,964 shares of the technology company’s stock worth $1,133,000 after acquiring an additional 36 shares during the period. Blue Edge Capital LLC grew its holdings in International Business Machines by 0.6% during the 1st quarter. Blue Edge Capital LLC now owns 6,776 shares of the technology company’s stock worth $1,685,000 after acquiring an additional 39 shares in the last quarter. Finally, Johnson Bixby & Associates LLC increased its position in International Business Machines by 3.3% during the 2nd quarter. Johnson Bixby & Associates LLC now owns 1,208 shares of the technology company’s stock valued at $356,000 after purchasing an additional 39 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Down 1.9%

IBM stock opened at $306.64 on Friday. The stock has a market capitalization of $286.63 billion, a PE ratio of 36.68, a price-to-earnings-growth ratio of 4.33 and a beta of 0.71. International Business Machines Corporation has a 52 week low of $204.07 and a 52 week high of $319.35. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 1.97. The firm has a 50 day moving average of $279.45 and a 200 day moving average of $268.83.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 22nd. The technology company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.20. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.The business had revenue of $16.33 billion for the quarter, compared to the consensus estimate of $16.10 billion. During the same quarter in the previous year, the business earned $2.30 EPS. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. International Business Machines has set its FY 2025 guidance at EPS. Sell-side analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th will be issued a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, November 10th. International Business Machines’s payout ratio is 80.38%.

Wall Street Analysts Forecast Growth

IBM has been the subject of several research reports. Bank of America upped their price target on shares of International Business Machines from $310.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Stifel Nicolaus lowered their target price on International Business Machines from $310.00 to $295.00 and set a “buy” rating for the company in a report on Thursday, October 23rd. 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. Morgan Stanley reduced their price target on International Business Machines from $256.00 to $252.00 and set an “equal weight” rating for the company in a research report on Thursday, October 23rd. Finally, Erste Group Bank downgraded International Business Machines from a “buy” rating to a “hold” rating in a research report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, International Business Machines has an average rating of “Moderate Buy” and an average price target of $288.00.

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.