Elevation Point Wealth Partners LLC Has $5.34 Million Position in International Business Machines Corporation $IBM

Elevation Point Wealth Partners LLC trimmed its position in International Business Machines Corporation (NYSE:IBM) by 9.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,104 shares of the technology company’s stock after selling 1,813 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in International Business Machines were worth $5,337,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Family CFO Inc bought a new position in International Business Machines during the second quarter worth about $25,000. Winnow Wealth LLC acquired a new position in shares of International Business Machines during the 2nd quarter worth approximately $27,000. SSA Swiss Advisors AG bought a new position in shares of International Business Machines during the first quarter worth approximately $28,000. Dagco Inc. acquired a new stake in shares of International Business Machines in the first quarter valued at approximately $31,000. Finally, Silicon Valley Capital Partners boosted its stake in shares of International Business Machines by 322.6% in the first quarter. Silicon Valley Capital Partners now owns 131 shares of the technology company’s stock valued at $32,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

IBM has been the subject of several analyst reports. Royal Bank Of Canada dropped their price objective on International Business Machines from $315.00 to $300.00 and set an “outperform” rating for the company in a report on Thursday, October 23rd. Stifel Nicolaus dropped their price target on International Business Machines from $310.00 to $295.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. Morgan Stanley cut their price objective on shares of International Business Machines from $256.00 to $252.00 and set an “equal weight” rating for the company in a research report on Thursday, October 23rd. Erste Group Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Thursday, August 14th. Finally, Sanford C. Bernstein initiated coverage on shares of International Business Machines in a report on Monday, September 15th. They set a “market perform” rating and a $280.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, International Business Machines presently has a consensus rating of “Moderate Buy” and an average target price of $291.08.

International Business Machines Trading Down 0.3%

Shares of IBM stock opened at $303.66 on Thursday. International Business Machines Corporation has a twelve month low of $214.50 and a twelve month high of $324.90. The stock’s fifty day simple moving average is $292.35 and its 200 day simple moving average is $274.33. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 1.97. The firm has a market capitalization of $283.84 billion, a P/E ratio of 36.32, a P/E/G ratio of 4.33 and a beta of 0.71.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, October 22nd. The technology company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.45 by $0.20. The firm had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.10 billion. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the company earned $2.30 earnings per share. International Business Machines has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th will be issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Monday, November 10th. International Business Machines’s payout ratio is presently 80.38%.

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.