Hobbs Group Advisors LLC Invests $246,000 in International Business Machines Corporation $IBM

Hobbs Group Advisors LLC acquired a new position in shares of International Business Machines Corporation (NYSE:IBM) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 835 shares of the technology company’s stock, valued at approximately $246,000.

Several other hedge funds and other institutional investors have also modified their holdings of IBM. Vanguard Group Inc. grew its holdings in shares of 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 buying an additional 1,298,515 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of International Business Machines by 6.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,636,725 shares of the technology company’s stock valued at $2,147,608,000 after buying an additional 524,633 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of International Business Machines by 1.0% during the first quarter. Ameriprise Financial Inc. now owns 5,516,240 shares of the technology company’s stock valued at $1,371,812,000 after buying an additional 52,317 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of International Business Machines by 20.8% during the first quarter. Goldman Sachs Group Inc. now owns 5,157,846 shares of the technology company’s stock valued at $1,282,550,000 after buying an additional 889,008 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of International Business Machines by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 5,108,455 shares of the technology company’s stock valued at $1,270,022,000 after buying an additional 24,790 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on IBM shares. Wedbush lifted their price target on International Business Machines from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, June 20th. Wall Street Zen upgraded International Business Machines from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Weiss Ratings restated a “hold (c+)” rating on shares of International Business Machines in a research note on Wednesday. Royal Bank Of Canada boosted their target price on International Business Machines from $285.00 to $315.00 and gave the company an “outperform” rating in a research note on Thursday, July 17th. Finally, Melius Research upgraded International Business Machines to a “strong-buy” rating in a research note on Monday, July 7th. 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. According to MarketBeat.com, International Business Machines presently has an average rating of “Hold” and an average price target of $284.62.

International Business Machines Stock Performance

IBM opened at $278.09 on Friday. The company has a market cap of $258.45 billion, a PE ratio of 45.14, a price-to-earnings-growth ratio of 4.28 and a beta of 0.73. The stock has a 50-day moving average of $258.19 and a 200-day moving average of $260.68. International Business Machines Corporation has a 52-week low of $203.51 and a 52-week high of $301.04. 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 (NYSE:IBM) last released its quarterly earnings results 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 the consensus estimate of $16.58 billion. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.The firm’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.43 EPS. International Business Machines has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

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

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.