CCG Wealth Management LLC Invests $216,000 in International Business Machines Corporation $IBM

CCG Wealth Management LLC bought a new position in shares of International Business Machines Corporation (NYSE:IBM) during the second quarter, Holdings Channel.com reports. The fund bought 732 shares of the technology company’s stock, valued at approximately $216,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in IBM. Brighton Jones LLC grew its holdings in shares of International Business Machines by 12.4% during the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock worth $4,619,000 after buying an additional 2,323 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of International Business Machines by 19.3% during the first quarter. GAMMA Investing LLC now owns 17,694 shares of the technology company’s stock worth $4,400,000 after buying an additional 2,862 shares during the last quarter. Twin Peaks Wealth Advisors LLC purchased a new position in shares of International Business Machines during the first quarter worth about $228,000. West Branch Capital LLC grew its holdings in shares of International Business Machines by 92.0% during the first quarter. West Branch Capital LLC now owns 4,426 shares of the technology company’s stock worth $1,101,000 after buying an additional 2,121 shares during the last quarter. Finally, Tudor Financial Inc. grew its holdings in shares of International Business Machines by 46.6% during the first quarter. Tudor Financial Inc. now owns 2,307 shares of the technology company’s stock worth $574,000 after buying an additional 733 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

IBM stock opened at $278.09 on Friday. The firm has a 50 day moving average of $258.19 and a 200-day moving average of $260.68. International Business Machines Corporation has a 12-month low of $203.51 and a 12-month high of $301.04. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00. The company has a market cap of $258.45 billion, a price-to-earnings ratio of 45.14, a PEG ratio of 4.28 and a beta of 0.73.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) 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 company had revenue of $16.98 billion during the quarter, compared to the consensus estimate of $16.58 billion. During the same period last year, the firm earned $2.43 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. As a group, equities analysts expect that International Business Machines Corporation will post 10.78 EPS 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 given a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Friday, August 8th. International Business Machines’s dividend payout ratio (DPR) is presently 109.09%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price target on International Business Machines from $244.00 to $290.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Wedbush raised their price target on International Business Machines from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, June 20th. Wall Street Zen raised International Business Machines from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Sanford C. Bernstein began coverage on International Business Machines in a report on Monday, September 15th. They issued a “market perform” rating and a $280.00 price objective on the stock. Finally, Melius Research raised International Business Machines to a “strong-buy” rating in a report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $284.62.

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.