New Covenant Trust Company N.A. Purchases Shares of 822 International Business Machines Corporation $IBM

New Covenant Trust Company N.A. purchased a new stake in shares of International Business Machines Corporation (NYSE:IBM) in the second quarter, Holdings Channel.com reports. The firm purchased 822 shares of the technology company’s stock, valued at approximately $238,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Christopher J. Hasenberg Inc purchased a new stake in shares of International Business Machines in the 1st quarter valued at about $27,000. SSA Swiss Advisors AG bought a new position in shares of International Business Machines in the first quarter worth approximately $28,000. Highline Wealth Partners LLC increased its position in shares of International Business Machines by 85.0% in the second quarter. Highline Wealth Partners LLC now owns 111 shares of the technology company’s stock worth $33,000 after purchasing an additional 51 shares during the last quarter. Dagco Inc. purchased a new stake in International Business Machines in the first quarter valued at approximately $31,000. Finally, Silicon Valley Capital Partners lifted its position in International Business Machines by 322.6% during the first quarter. Silicon Valley Capital Partners now owns 131 shares of the technology company’s stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

IBM has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on shares of International Business Machines from $244.00 to $290.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Bank of America reduced their target price on International Business Machines from $320.00 to $310.00 and set a “buy” rating on the stock in a research note on Thursday, July 24th. Royal Bank Of Canada lifted their price target on International Business Machines from $285.00 to $315.00 and gave the stock an “outperform” rating in a research note on Thursday, July 17th. Wall Street Zen upgraded International Business Machines from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Finally, Stifel Nicolaus raised their price objective on International Business Machines from $290.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $275.00.

International Business Machines Price Performance

IBM opened at $284.72 on Monday. The stock’s 50 day simple moving average is $254.07 and its 200 day simple moving average is $258.11. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87. International Business Machines Corporation has a 1 year low of $203.51 and a 1 year high of $296.16. The firm has a market cap of $264.62 billion, a price-to-earnings ratio of 46.22, a PEG ratio of 4.38 and a beta of 0.71.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.15. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.The firm had revenue of $16.98 billion during the quarter, compared to the consensus estimate of $16.58 billion. During the same quarter in the previous year, the company posted $2.43 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. As a group, analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

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