Turtle Creek Wealth Advisors LLC Purchases Shares of 2,434 International Business Machines Corporation $IBM

Turtle Creek Wealth Advisors LLC bought a new stake in shares of International Business Machines Corporation (NYSE:IBM) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,434 shares of the technology company’s stock, valued at approximately $717,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Tlwm purchased a new stake in International Business Machines during the 2nd quarter worth $234,000. WJ Wealth Management LLC acquired a new position in shares of International Business Machines in the 2nd quarter valued at about $877,000. WealthPlan Investment Management LLC boosted its holdings in shares of International Business Machines by 5.2% in the 2nd quarter. WealthPlan Investment Management LLC now owns 43,691 shares of the technology company’s stock valued at $12,879,000 after buying an additional 2,165 shares during the period. Copia Wealth Management boosted its holdings in shares of International Business Machines by 57.6% in the 2nd quarter. Copia Wealth Management now owns 134 shares of the technology company’s stock valued at $40,000 after buying an additional 49 shares during the period. Finally, Mutual Advisors LLC boosted its stake in International Business Machines by 4.7% during the 2nd quarter. Mutual Advisors LLC now owns 29,777 shares of the technology company’s stock valued at $8,778,000 after purchasing an additional 1,334 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

IBM has been the subject of a number of research analyst reports. BMO Capital Markets upped their price target on shares of International Business Machines from $260.00 to $300.00 and gave the stock a “market perform” rating in a research note on Friday, July 18th. Morgan Stanley upped their price target on International Business Machines from $253.00 to $256.00 and gave the company an “equal weight” rating in a report on Wednesday. Erste Group Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Thursday, August 14th. Bank of America cut their price target on shares of International Business Machines from $320.00 to $310.00 and set a “buy” rating on the stock in a report on Thursday, July 24th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $315.00 target price on shares of International Business Machines in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $286.38.

International Business Machines Price Performance

Shares of International Business Machines stock opened at $275.93 on Friday. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87. The firm has a fifty day moving average price of $260.29 and a two-hundred day moving average price of $261.44. International Business Machines Corporation has a fifty-two week low of $203.51 and a fifty-two week high of $301.04. The company has a market cap of $256.45 billion, a PE ratio of 44.79, a price-to-earnings-growth ratio of 4.32 and a beta of 0.73.

International Business Machines (NYSE:IBM) last announced 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 net margin of 9.11% and a return on equity of 37.62%. The firm had revenue of $16.98 billion during the quarter, compared to the consensus estimate of $16.58 billion. During the same period last year, the firm posted $2.43 EPS. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. Analysts expect 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 was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were issued a dividend of $1.68 per share. The ex-dividend date was Friday, August 8th. This represents a $6.72 dividend on an annualized basis and a yield of 2.4%. International Business Machines’s payout ratio 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.