Cornerstone Wealth Group LLC Raises Position in International Business Machines Corporation $IBM

Cornerstone Wealth Group LLC grew its position in International Business Machines Corporation (NYSE:IBM) by 13.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 4,599 shares of the technology company’s stock after purchasing an additional 539 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in International Business Machines were worth $1,356,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Elmwood Wealth Management Inc. purchased a new position in International Business Machines in the second quarter worth about $215,000. Kellett Wealth Advisors LLC raised its holdings in International Business Machines by 4.4% in the second quarter. Kellett Wealth Advisors LLC now owns 1,136 shares of the technology company’s stock worth $335,000 after buying an additional 48 shares during the last quarter. NorthRock Partners LLC raised its holdings in International Business Machines by 3.1% in the second quarter. NorthRock Partners LLC now owns 20,837 shares of the technology company’s stock worth $6,142,000 after buying an additional 635 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in International Business Machines by 8.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 19,310 shares of the technology company’s stock worth $5,692,000 after buying an additional 1,529 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in International Business Machines by 1.1% in the second quarter. Oregon Public Employees Retirement Fund now owns 80,337 shares of the technology company’s stock worth $23,682,000 after buying an additional 900 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on IBM shares. JPMorgan Chase & Co. lifted 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. Sanford C. Bernstein initiated 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 for the company. Erste Group Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Thursday, August 14th. UBS Group lifted their price target on shares of International Business Machines from $195.00 to $200.00 and gave the stock a “sell” rating in a research note on Thursday, July 24th. Finally, Wall Street Zen upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. One investment 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 given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $284.62.

International Business Machines Stock Down 0.2%

Shares of IBM stock opened at $277.21 on Tuesday. International Business Machines Corporation has a 12 month low of $203.51 and a 12 month high of $301.04. The stock has a market cap of $257.64 billion, a P/E ratio of 45.00, a P/E/G 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. The company has a 50 day simple moving average of $258.69 and a two-hundred day simple moving average of $261.01.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $16.98 billion during the quarter, compared to analysts’ expectations of $16.58 billion. During the same period in the prior year, the company earned $2.43 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. On average, research analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were issued a dividend of $1.68 per share. 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 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.