Advocate Group LLC Has $14.06 Million Stake in International Business Machines Corporation $IBM

Advocate Group LLC cut its stake in International Business Machines Corporation (NYSE:IBM) by 8.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,683 shares of the technology company’s stock after selling 4,242 shares during the quarter. International Business Machines comprises approximately 2.5% of Advocate Group LLC’s holdings, making the stock its 6th largest holding. Advocate Group LLC’s holdings in International Business Machines were worth $14,056,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. MinichMacGregor Wealth Management LLC purchased a new position in shares of International Business Machines during the first quarter valued at $396,000. Brooklyn Investment Group increased its stake 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 valued at $1,647,000 after buying an additional 1,630 shares during the period. Edgar Lomax Co. VA increased its stake in shares of International Business Machines by 5.7% during the first quarter. Edgar Lomax Co. VA now owns 235,967 shares of the technology company’s stock valued at $58,676,000 after buying an additional 12,690 shares during the period. Left Brain Wealth Management LLC increased its stake in shares of International Business Machines by 1,547.8% during the first quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company’s stock valued at $4,392,000 after buying an additional 16,592 shares during the period. Finally, Alpha Cubed Investments LLC increased its stake in shares of International Business Machines by 47.0% during the first quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company’s stock valued at $1,867,000 after buying an additional 2,399 shares during the period. 58.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on IBM shares. Melius Research upgraded International Business Machines to a “strong-buy” rating in a research note on Monday, July 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of International Business Machines in a research note on Wednesday. Bank of America cut their target price on 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. Erste Group Bank downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Thursday, August 14th. Finally, The Goldman Sachs Group raised their price target on International Business Machines from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, International Business Machines currently has an average rating of “Hold” and an average price target of $284.62.

International Business Machines Trading Down 3.5%

International Business Machines stock opened at $278.09 on Friday. 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. The company has a market capitalization of $258.45 billion, a price-to-earnings 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 price of $258.19 and a 200 day moving average price of $260.68.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $16.98 billion during the quarter, compared to the consensus estimate of $16.58 billion. During the same quarter in the previous year, the company posted $2.43 earnings per share. The company’s revenue was up 7.7% compared to the same quarter last year. International Business Machines has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

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