Eastern Bank Raises Stock Holdings in International Business Machines Corporation $IBM

Eastern Bank increased its position in International Business Machines Corporation (NYSE:IBM) by 2.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,332 shares of the technology company’s stock after acquiring an additional 887 shares during the period. Eastern Bank’s holdings in International Business Machines were worth $9,826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MinichMacGregor Wealth Management LLC purchased a new position in shares of International Business Machines during the 1st quarter valued at about $396,000. Brooklyn Investment Group raised its stake in shares of International Business Machines by 32.7% during the 1st quarter. Brooklyn Investment Group now owns 6,622 shares of the technology company’s stock valued at $1,647,000 after buying an additional 1,630 shares during the last quarter. Edgar Lomax Co. VA raised its stake in shares of International Business Machines by 5.7% during the 1st quarter. Edgar Lomax Co. VA now owns 235,967 shares of the technology company’s stock valued at $58,676,000 after buying an additional 12,690 shares during the last quarter. Left Brain Wealth Management LLC raised its stake in shares of International Business Machines by 1,547.8% during the 1st quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company’s stock valued at $4,392,000 after buying an additional 16,592 shares during the last quarter. Finally, Alpha Cubed Investments LLC raised its stake in shares of International Business Machines by 47.0% during the 1st quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company’s stock valued at $1,867,000 after buying an additional 2,399 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of International Business Machines stock opened at $278.09 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. International Business Machines Corporation has a twelve month low of $203.51 and a twelve month high of $301.04. The business has a 50-day moving average price of $258.19 and a 200 day moving average price of $260.60. The firm has a market cap of $258.45 billion, a PE ratio of 45.14, a P/E/G ratio of 4.44 and a beta of 0.73.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, topping 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 company had revenue of $16.98 billion for the quarter, compared to analysts’ expectations of $16.58 billion. During the same period in the previous year, the firm posted $2.43 EPS. International Business Machines’s revenue was up 7.7% compared to the same quarter last year. International Business Machines has set its FY 2025 guidance at EPS. Sell-side analysts predict 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 was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were issued a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.4%. The ex-dividend date was Friday, August 8th. International Business Machines’s payout ratio is presently 109.09%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IBM. Royal Bank Of Canada lifted their price objective on International Business Machines from $285.00 to $315.00 and gave the company 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 research note on Saturday, July 26th. Bank of America reduced their price objective on International Business Machines from $320.00 to $310.00 and set a “buy” rating for the company in a research note on Thursday, July 24th. Melius Research upgraded International Business Machines to a “strong-buy” rating in a research note on Monday, July 7th. Finally, Sanford C. Bernstein began coverage on International Business Machines in a research note on Monday, September 15th. They issued a “market perform” rating and a $280.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $284.62.

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.