IMG Wealth Management Inc. Sells 231 Shares of International Business Machines Corporation $IBM

IMG Wealth Management Inc. reduced its stake in shares of International Business Machines Corporation (NYSE:IBM) by 23.3% in the second quarter, HoldingsChannel.com reports. The firm owned 761 shares of the technology company’s stock after selling 231 shares during the period. IMG Wealth Management Inc.’s holdings in International Business Machines were worth $224,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group increased its holdings in International Business Machines by 32.7% during the 1st 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 in the last quarter. Edgar Lomax Co. VA increased its holdings in 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 worth $58,676,000 after purchasing an additional 12,690 shares in the last quarter. Left Brain Wealth Management LLC increased its holdings in 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 worth $4,392,000 after purchasing an additional 16,592 shares in the last quarter. Alpha Cubed Investments LLC increased its holdings in 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 worth $1,867,000 after purchasing an additional 2,399 shares in the last quarter. Finally, Wedbush Securities Inc. boosted its stake in shares of International Business Machines by 5.6% in the 1st quarter. Wedbush Securities Inc. now owns 62,067 shares of the technology company’s stock worth $15,434,000 after buying an additional 3,276 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Wall Street Zen downgraded International Business Machines from a “buy” rating to a “hold” rating in a research note on Saturday. Royal Bank Of Canada restated an “outperform” rating and issued a $315.00 target price on shares of International Business Machines in a research note on Thursday, October 16th. UBS Group boosted their target price on International Business Machines from $195.00 to $200.00 and gave the stock a “sell” rating 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, BMO Capital Markets boosted their target price on International Business Machines from $260.00 to $300.00 and gave the stock a “market perform” rating in a research note on Friday, July 18th. One 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 issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $286.38.

International Business Machines Price Performance

International Business Machines stock opened at $283.64 on Tuesday. International Business Machines Corporation has a 12 month low of $203.51 and a 12 month high of $301.04. 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 business’s 50 day simple moving average is $262.02 and its 200 day simple moving average is $262.25. The company has a market cap of $263.61 billion, a price-to-earnings ratio of 46.05, a PEG ratio of 4.33 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 EPS 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 business had revenue of $16.98 billion for the quarter, compared to the consensus estimate of $16.58 billion. During the same quarter in the prior year, the business earned $2.43 earnings per share. International Business Machines’s revenue for the quarter was up 7.7% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. Sell-side analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current 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 paid a $1.68 dividend. The ex-dividend date was Friday, August 8th. This represents a $6.72 annualized dividend and a yield of 2.4%. International Business Machines’s dividend payout ratio is presently 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.