Powers Advisory Group LLC Makes New Investment in International Business Machines Corporation $IBM

Powers Advisory Group LLC acquired a new position in shares of International Business Machines Corporation (NYSE:IBM) during the second quarter, HoldingsChannel.com reports. The fund acquired 777 shares of the technology company’s stock, valued at approximately $229,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. GQG Partners LLC purchased a new stake in shares of International Business Machines during the first quarter worth about $1,040,057,000. Nuveen LLC purchased a new stake in shares of International Business Machines during the first quarter worth about $960,386,000. Vanguard Group Inc. increased its position 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 worth $23,159,637,000 after acquiring an additional 1,298,515 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of International Business Machines by 41.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,164,987 shares of the technology company’s stock worth $787,007,000 after acquiring an additional 930,448 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position 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 worth $1,282,550,000 after acquiring an additional 889,008 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of IBM stock opened at $282.19 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. The business has a 50 day moving average of $253.98 and a two-hundred day moving average of $258.50. International Business Machines Corporation has a 52 week low of $203.51 and a 52 week high of $296.16. The company has a market cap of $262.27 billion, a P/E ratio of 45.81, a PEG ratio of 4.31 and a beta of 0.71.

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

International Business Machines Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have recently issued reports on IBM shares. Sanford C. Bernstein started coverage on International Business Machines in a research report on Monday, September 15th. They set a “market perform” rating and a $280.00 target price on the stock. Wedbush lifted their target price on International Business Machines from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, June 20th. Royal Bank Of Canada lifted their target price on International Business Machines from $285.00 to $315.00 and gave the stock an “outperform” rating in a research report on Thursday, July 17th. JPMorgan Chase & Co. lifted their target price on 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, Stifel Nicolaus boosted their price objective on International Business Machines from $290.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, International Business Machines presently has an average rating of “Hold” and a consensus price target of $275.00.

International Business Machines Company 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.