Geode Capital Management LLC Purchases 400,131 Shares of International Business Machines Corporation $IBM

Geode Capital Management LLC raised its holdings in International Business Machines Corporation (NYSE:IBM) by 1.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,936,235 shares of the technology company’s stock after acquiring an additional 400,131 shares during the period. International Business Machines comprises about 0.5% of Geode Capital Management LLC’s investment portfolio, making the stock its 29th largest holding. Geode Capital Management LLC’s holdings in International Business Machines were worth $6,444,527,000 at the end of the most recent quarter.

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

International Business Machines Stock Up 1.6%

Shares of IBM opened at $313.98 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 1.97. International Business Machines Corporation has a 12 month low of $204.07 and a 12 month high of $319.35. The firm’s 50 day moving average is $282.22 and its 200-day moving average is $270.32. The stock has a market capitalization of $293.49 billion, a PE ratio of 37.56, a P/E/G ratio of 4.33 and a beta of 0.71.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 22nd. The technology company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.45 by $0.20. The business had revenue of $16.33 billion for the quarter, compared to the consensus estimate of $16.10 billion. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.30 earnings per share. 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 year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th will be paid a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Monday, November 10th. International Business Machines’s dividend payout ratio is presently 80.38%.

Analysts Set New Price Targets

A number of research firms recently commented on IBM. Royal Bank Of Canada reduced their price target on International Business Machines from $315.00 to $300.00 and set an “outperform” rating for the company in a report on Thursday, October 23rd. Erste Group Bank downgraded International Business Machines from a “buy” rating to a “hold” rating in a research note on Thursday, August 14th. BMO Capital Markets increased their price target on International Business Machines from $300.00 to $305.00 and gave the company a “market perform” rating in a research note on Thursday, October 23rd. JPMorgan Chase & Co. lifted their price objective on shares of International Business Machines from $244.00 to $290.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Finally, Sanford C. Bernstein began coverage on shares of International Business Machines in a research report on Monday, September 15th. They issued a “market perform” rating and a $280.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $288.00.

About International Business Machines

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.