Prosperity Financial Group Inc. Cuts Stock Holdings in International Business Machines Corporation $IBM

Prosperity Financial Group Inc. decreased its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 5.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 2,303 shares of the technology company’s stock after selling 128 shares during the period. Prosperity Financial Group Inc.’s holdings in International Business Machines were worth $679,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Family CFO Inc purchased a new position in International Business Machines during the 2nd quarter valued at about $25,000. Christopher J. Hasenberg Inc purchased a new position in International Business Machines during the 1st quarter valued at about $27,000. SSA Swiss Advisors AG purchased a new position in shares of International Business Machines in the 1st quarter worth approximately $28,000. Highline Wealth Partners LLC grew its position in shares of International Business Machines by 85.0% in the 2nd quarter. Highline Wealth Partners LLC now owns 111 shares of the technology company’s stock worth $33,000 after buying an additional 51 shares during the last quarter. Finally, Dagco Inc. purchased a new position in shares of International Business Machines in the 1st quarter worth approximately $31,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 2.0%

IBM stock opened at $287.57 on Thursday. The firm has a 50 day moving average of $263.92 and a 200 day moving average of $262.56. The stock has a market capitalization of $267.27 billion, a PE ratio of 46.68, a price-to-earnings-growth ratio of 4.34 and a beta of 0.73. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. International Business Machines Corporation has a 52 week low of $203.51 and a 52 week high of $301.04.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 22nd. The technology company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.20. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The company had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.10 billion. During the same period last year, the business earned $2.30 EPS. International Business Machines’s revenue for the quarter was up 9.1% 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 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th will be paid a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.3%. The ex-dividend date is Monday, November 10th. International Business Machines’s payout ratio is presently 109.09%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $315.00 price objective on shares of International Business Machines in a research report on Thursday, October 16th. Erste Group Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Thursday, August 14th. Jefferies Financial Group lifted their price objective on shares of International Business Machines from $280.00 to $305.00 and gave the stock a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their price objective on shares of International Business Machines from $244.00 to $290.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Finally, BMO Capital Markets lifted their price objective 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. One 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, International Business Machines presently has an average rating of “Hold” and a consensus price target of $289.46.

About International Business Machines

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.