waypoint wealth counsel raised its holdings in International Business Machines Corporation (NYSE:IBM – Free Report) by 9.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,466 shares of the technology company’s stock after purchasing an additional 128 shares during the period. waypoint wealth counsel’s holdings in International Business Machines were worth $432,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of International Business Machines during the second quarter worth about $147,000. Apollon Wealth Management LLC grew its holdings in shares of International Business Machines by 53.2% during the second quarter. Apollon Wealth Management LLC now owns 87,992 shares of the technology company’s stock worth $25,938,000 after purchasing an additional 30,544 shares in the last quarter. Keener Financial Planning LLC purchased a new position in International Business Machines in the 2nd quarter worth approximately $139,000. Hemington Wealth Management grew its stake in International Business Machines by 5.4% in the 2nd quarter. Hemington Wealth Management now owns 2,618 shares of the technology company’s stock worth $771,000 after buying an additional 134 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC grew its stake in International Business Machines by 7.9% in the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 15,238 shares of the technology company’s stock worth $4,492,000 after buying an additional 1,118 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.
International Business Machines Trading Down 3.5%
NYSE:IBM opened at $278.09 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00. International Business Machines Corporation has a 12 month low of $203.51 and a 12 month high of $301.04. The company has a 50-day moving average price of $258.19 and a 200-day moving average price of $260.68. The stock has a market cap of $258.45 billion, a price-to-earnings ratio of 45.14, a P/E/G ratio of 4.28 and a beta of 0.73.
International Business Machines Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were issued a $1.68 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $6.72 annualized dividend and a yield of 2.4%. International Business Machines’s payout ratio is 109.09%.
Wall Street Analysts Forecast Growth
IBM has been the subject of several research reports. BMO Capital Markets upped their target price on shares of International Business Machines from $260.00 to $300.00 and gave the stock a “market perform” rating in a research report on Friday, July 18th. The Goldman Sachs Group upped their price objective on International Business Machines from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. Erste Group Bank cut International Business Machines from a “buy” rating to a “hold” rating in a report on Thursday, August 14th. Wedbush upped their target price on International Business Machines from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, June 20th. Finally, JPMorgan Chase & Co. upped their target price on International Business Machines from $244.00 to $290.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average target price of $284.62.
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.
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