Princeton Global Asset Management LLC Raises Holdings in International Business Machines Corporation $IBM

Princeton Global Asset Management LLC boosted its stake in International Business Machines Corporation (NYSE:IBM) by 58.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 1,244 shares of the technology company’s stock after acquiring an additional 461 shares during the period. Princeton Global Asset Management LLC’s holdings in International Business Machines were worth $367,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Brooklyn Investment Group grew its holdings 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 buying an additional 1,630 shares in the last quarter. Edgar Lomax Co. VA grew its stake in International Business Machines by 5.7% in the 1st quarter. Edgar Lomax Co. VA now owns 235,967 shares of the technology company’s stock worth $58,676,000 after acquiring an additional 12,690 shares during the period. Left Brain Wealth Management LLC raised its holdings in International Business Machines by 1,547.8% in 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 acquiring an additional 16,592 shares during the last quarter. Alpha Cubed Investments LLC raised its holdings in International Business Machines by 47.0% in the 1st quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company’s stock valued at $1,867,000 after acquiring an additional 2,399 shares during the last quarter. Finally, Wedbush Securities Inc. boosted its holdings in shares of International Business Machines by 5.6% during the first quarter. Wedbush Securities Inc. now owns 62,067 shares of the technology company’s stock worth $15,434,000 after purchasing an additional 3,276 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on IBM. Royal Bank Of Canada reiterated 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 upped their price objective on shares of International Business Machines from $195.00 to $200.00 and gave the company a “sell” rating in a research note 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 stock a “market perform” rating in a research report on Friday, July 18th. Stifel Nicolaus boosted their target price on shares of International Business Machines from $290.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. Finally, Bank of America cut their price target on shares of International Business Machines from $320.00 to $310.00 and set a “buy” rating on the stock in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $286.38.

International Business Machines Trading Up 0.8%

NYSE IBM opened at $283.64 on Tuesday. The firm has a market capitalization of $263.61 billion, a price-to-earnings ratio of 46.05, a PEG ratio of 4.33 and a beta of 0.73. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. International Business Machines Corporation has a one year low of $203.51 and a one year high of $301.04. The company’s 50 day moving average price is $262.02 and its 200 day moving average price is $262.25.

International Business Machines (NYSE:IBM) last released 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. The company had revenue of $16.98 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.43 earnings per share. International Business Machines has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that International Business Machines Corporation will post 10.78 EPS for the current 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 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 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.