812 Shares in International Business Machines Corporation $IBM Purchased by Summit X LLC

Summit X LLC bought a new stake in shares of International Business Machines Corporation (NYSE:IBM) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 812 shares of the technology company’s stock, valued at approximately $239,000.

A number of other hedge funds have also recently made changes to their positions in IBM. Brooklyn Investment Group boosted its holdings in International Business Machines by 32.7% in the first quarter. Brooklyn Investment Group now owns 6,622 shares of the technology company’s stock worth $1,647,000 after purchasing an additional 1,630 shares during the last quarter. Edgar Lomax Co. VA grew its holdings in shares of International Business Machines by 5.7% in the first quarter. Edgar Lomax Co. VA now owns 235,967 shares of the technology company’s stock worth $58,676,000 after acquiring an additional 12,690 shares during the period. Left Brain Wealth Management LLC increased its position in International Business Machines by 1,547.8% during the first quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company’s stock valued at $4,392,000 after acquiring an additional 16,592 shares during the last quarter. Wedbush Securities Inc. lifted its holdings in International Business Machines by 5.6% in the first quarter. Wedbush Securities Inc. now owns 62,067 shares of the technology company’s stock valued at $15,434,000 after acquiring an additional 3,276 shares during the period. Finally, Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. bought a new stake in shares of International Business Machines during the 1st quarter valued at about $4,608,000. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Down 1.9%

IBM stock opened at $306.64 on Monday. 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 simple moving average of $279.45 and a 200-day simple moving average of $269.19. The stock has a market capitalization of $286.63 billion, a P/E ratio of 36.68, 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 for the quarter, beating analysts’ consensus estimates of $2.45 by $0.20. International Business Machines had a net margin of 12.09% and a return on equity of 37.76%. The firm had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.10 billion. During the same period last year, the company posted $2.30 EPS. International Business Machines’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. Equities analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Weiss Ratings upgraded shares of International Business Machines from a “hold (c+)” rating to a “buy (b)” rating in a research report on Saturday, October 25th. Sanford C. Bernstein started coverage on shares of International Business Machines in a research note on Monday, September 15th. They issued a “market perform” rating and a $280.00 price target on the stock. Stifel Nicolaus dropped their price objective on shares of 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. upped their price objective on International Business Machines from $244.00 to $290.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Finally, Jefferies Financial Group upped their target price on shares of International Business Machines from $280.00 to $305.00 and gave the company a “hold” rating in a research report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.