Sonora Investment Management Group LLC Acquires Shares of 105,176 International Business Machines Corporation $IBM

Sonora Investment Management Group LLC bought a new stake in International Business Machines Corporation (NYSE:IBM) during the 2nd quarter, HoldingsChannel reports. The fund bought 105,176 shares of the technology company’s stock, valued at approximately $31,004,000. International Business Machines comprises 2.3% of Sonora Investment Management Group LLC’s investment portfolio, making the stock its 9th largest holding.

Other large investors have also recently made changes to their positions in the company. Stone Summit Wealth LLC grew its holdings in International Business Machines by 25.1% during the 2nd quarter. Stone Summit Wealth LLC now owns 1,996 shares of the technology company’s stock valued at $588,000 after purchasing an additional 400 shares during the last quarter. Barry Investment Advisors LLC bought a new position in shares of International Business Machines during the second quarter valued at approximately $294,000. Worth Financial Advisory Group LLC purchased a new stake in shares of International Business Machines in the second quarter worth approximately $217,000. Clear Point Advisors Inc. increased its stake in International Business Machines by 5.1% in the second quarter. Clear Point Advisors Inc. now owns 933 shares of the technology company’s stock worth $275,000 after purchasing an additional 45 shares during the period. Finally, Uncommon Cents Investing LLC lifted its position in shares of International Business Machines by 0.6% during the second quarter. Uncommon Cents Investing LLC now owns 9,235 shares of the technology company’s stock worth $2,722,000 after purchasing an additional 57 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IBM has been the topic of a number of research analyst reports. The Goldman Sachs Group upped their price target on shares of International Business Machines from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. Bank of America dropped their target price 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. Sanford C. Bernstein started coverage on shares of International Business Machines in a research note on Monday, September 15th. They set a “market perform” rating and a $280.00 price target for the company. Stifel Nicolaus boosted their price target on International Business Machines from $290.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. Finally, UBS Group raised their price objective on International Business Machines from $195.00 to $200.00 and gave the stock a “sell” rating in a report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines presently has an average rating of “Hold” and an average price target of $275.00.

International Business Machines Price Performance

IBM opened at $284.72 on Friday. The firm has a market capitalization of $264.62 billion, a PE ratio of 46.22, a price-to-earnings-growth ratio of 4.38 and a beta of 0.71. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87. The business’s 50-day moving average is $254.07 and its two-hundred day moving average is $258.03. International Business Machines Corporation has a 1 year low of $203.51 and a 1 year high of $296.16.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.65 by $0.15. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The business had revenue of $16.98 billion for the quarter, compared to analysts’ expectations of $16.58 billion. During the same period last year, the business earned $2.43 EPS. 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. Research analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were issued 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 currently 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.