Axxcess Wealth Management LLC Boosts Stake in International Business Machines Corporation $IBM

Axxcess Wealth Management LLC raised its position in International Business Machines Corporation (NYSE:IBM) by 101.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 42,649 shares of the technology company’s stock after purchasing an additional 21,518 shares during the period. Axxcess Wealth Management LLC’s holdings in International Business Machines were worth $12,572,000 as of its most recent SEC filing.

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

International Business Machines Price Performance

Shares of NYSE:IBM opened at $277.21 on Tuesday. The firm’s 50 day moving average is $258.69 and its two-hundred day moving average is $261.01. International Business Machines Corporation has a 52 week low of $203.51 and a 52 week high of $301.04. The firm has a market capitalization of $257.64 billion, a P/E ratio of 45.00, a PEG ratio of 4.28 and a beta of 0.73. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 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 company had revenue of $16.98 billion for the quarter, compared to analyst estimates of $16.58 billion. During the same quarter last year, the business earned $2.43 earnings per share. 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. Analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were paid a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Friday, August 8th. International Business Machines’s dividend payout ratio (DPR) is currently 109.09%.

Analysts Set New Price Targets

Several equities analysts have recently commented on IBM shares. Royal Bank Of Canada increased their price target on shares of International Business Machines from $285.00 to $315.00 and gave the stock an “outperform” rating in a research report on Thursday, July 17th. Bank of America cut their target price 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. The Goldman Sachs Group raised their target price on shares of International Business Machines from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. UBS Group raised their target price on shares of International Business Machines from $195.00 to $200.00 and gave the stock a “sell” rating in a report on Thursday, July 24th. Finally, JPMorgan Chase & Co. raised their target price 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. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $284.62.

International Business Machines 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.