Canvas Wealth Advisors LLC Buys 315 Shares of International Business Machines Corporation $IBM

Canvas Wealth Advisors LLC grew its stake in shares of International Business Machines Corporation (NYSE:IBM) by 24.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,585 shares of the technology company’s stock after buying an additional 315 shares during the period. Canvas Wealth Advisors LLC’s holdings in International Business Machines were worth $467,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GQG Partners LLC bought a new stake in shares of International Business Machines during the 1st quarter valued at $1,040,057,000. Nuveen LLC purchased a new stake in International Business Machines in the 1st quarter worth $960,386,000. Vanguard Group Inc. raised its holdings in International Business Machines by 1.4% during the first quarter. Vanguard Group Inc. now owns 93,137,767 shares of the technology company’s stock valued at $23,159,637,000 after acquiring an additional 1,298,515 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of International Business Machines by 41.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,164,987 shares of the technology company’s stock valued at $787,007,000 after acquiring an additional 930,448 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of International Business Machines by 20.8% in the first quarter. Goldman Sachs Group Inc. now owns 5,157,846 shares of the technology company’s stock worth $1,282,550,000 after acquiring an additional 889,008 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IBM has been the topic of a number of research analyst reports. Royal Bank Of Canada reissued an “outperform” rating and issued a $315.00 price target on shares of International Business Machines in a report on Thursday. Bank of America lowered 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. BMO Capital Markets raised their target price on shares of International Business Machines from $260.00 to $300.00 and gave the company a “market perform” rating in a research note on Friday, July 18th. Morgan Stanley boosted their price target on shares of International Business Machines from $253.00 to $256.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Erste Group Bank lowered International Business Machines from a “buy” rating to a “hold” rating in a research report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $286.38.

International Business Machines Price Performance

IBM stock opened at $280.95 on Monday. International Business Machines Corporation has a 52 week low of $203.51 and a 52 week high of $301.04. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. The company has a fifty day simple moving average of $261.07 and a two-hundred day simple moving average of $261.86. The firm has a market capitalization of $261.12 billion, a P/E ratio of 45.61, a price-to-earnings-growth ratio of 4.33 and a beta of 0.73.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.65 by $0.15. The firm had revenue of $16.98 billion for the quarter, compared to the consensus estimate of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.43 EPS. 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 fiscal year.

International Business Machines Announces Dividend

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

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.