Bingham Private Wealth LLC Acquires 79 Shares of International Business Machines Corporation $IBM

Bingham Private Wealth LLC grew its holdings in International Business Machines Corporation (NYSE:IBM) by 1.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,973 shares of the technology company’s stock after purchasing an additional 79 shares during the quarter. International Business Machines makes up 1.6% of Bingham Private Wealth LLC’s portfolio, making the stock its 12th biggest position. Bingham Private Wealth LLC’s holdings in International Business Machines were worth $1,761,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. HMV Wealth Advisors LLC purchased a new position in shares of International Business Machines in the 2nd quarter valued at $205,000. Clark & Stuart Inc bought a new stake in International Business Machines during the second quarter valued at about $226,000. Trueblood Wealth Management LLC grew its stake in International Business Machines by 5.6% in the second quarter. Trueblood Wealth Management LLC now owns 3,846 shares of the technology company’s stock valued at $1,134,000 after purchasing an additional 204 shares during the last quarter. Seamount Financial Group Inc. bought a new position in International Business Machines in the second quarter worth about $2,939,000. Finally, SteelPeak Wealth LLC lifted its position in shares of International Business Machines by 14.4% during the second quarter. SteelPeak Wealth LLC now owns 45,375 shares of the technology company’s stock valued at $13,376,000 after buying an additional 5,696 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of IBM opened at $289.70 on Tuesday. 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 company’s fifty day moving average price is $255.71 and its 200-day moving average price is $259.70. International Business Machines Corporation has a 1-year low of $203.51 and a 1-year high of $296.16. The firm has a market capitalization of $269.25 billion, a PE ratio of 47.03, a price-to-earnings-growth ratio of 4.44 and a beta of 0.73.

International Business Machines (NYSE:IBM) last issued its quarterly 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. The company had revenue of $16.98 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.43 EPS. International Business Machines has set its FY 2025 guidance at EPS. On average, equities research analysts predict that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were given a $1.68 dividend. The ex-dividend date was Friday, August 8th. This represents a $6.72 dividend on an annualized basis and a yield of 2.3%. International Business Machines’s dividend payout ratio is currently 109.09%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Royal Bank Of Canada lifted their price objective on shares of 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. upped their price target 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. Melius Research upgraded International Business Machines to a “strong-buy” rating in a report on Monday, July 7th. The Goldman Sachs Group boosted their target price on International Business Machines from $270.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of International Business Machines in a research note on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $284.62.

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.