VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in International Business Machines Corporation $IBM

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of International Business Machines Corporation (NYSE:IBM) in the 2nd quarter, HoldingsChannel reports. The fund bought 453,800 shares of the technology company’s stock, valued at approximately $133,771,000. International Business Machines accounts for about 0.9% of VIRGINIA RETIREMENT SYSTEMS ET Al’s portfolio, making the stock its 12th biggest holding.

A number of other hedge funds also recently made changes to their positions in IBM. Woodard & Co. Asset Management Group Inc. ADV grew its position in International Business Machines by 27.8% during the second quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 3,797 shares of the technology company’s stock valued at $1,119,000 after buying an additional 827 shares during the period. Quotient Wealth Partners LLC boosted its stake in International Business Machines by 16.6% in the second quarter. Quotient Wealth Partners LLC now owns 5,678 shares of the technology company’s stock valued at $1,674,000 after acquiring an additional 810 shares during the last quarter. Koshinski Asset Management Inc. boosted its stake in International Business Machines by 2.2% in the second quarter. Koshinski Asset Management Inc. now owns 4,797 shares of the technology company’s stock valued at $1,414,000 after acquiring an additional 102 shares during the last quarter. Kondo Wealth Advisors Inc. bought a new position in shares of International Business Machines during the 2nd quarter valued at approximately $222,000. Finally, Lutz Financial Services LLC purchased a new stake in shares of International Business Machines during the 2nd quarter worth approximately $210,000. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

IBM has been the topic of several research analyst reports. Morgan Stanley upped their price objective on International Business Machines from $253.00 to $256.00 and gave the company an “equal weight” rating in a research note on Wednesday. JPMorgan Chase & Co. upped their price target on International Business Machines from $244.00 to $290.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Erste Group Bank downgraded International Business Machines from a “buy” rating to a “hold” rating in a research note on Thursday, August 14th. Weiss Ratings restated a “hold (c+)” rating on shares of International Business Machines in a research note on Wednesday, October 8th. Finally, BMO Capital Markets upped their price objective on shares of International Business Machines from $260.00 to $300.00 and gave the company a “market perform” rating in a report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $286.38.

International Business Machines Stock Performance

NYSE:IBM opened at $280.95 on Friday. The business’s fifty day moving average is $261.07 and its 200 day moving average is $261.73. The firm has a market cap of $261.12 billion, a price-to-earnings ratio of 45.61, a PEG ratio of 4.33 and a beta of 0.73. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. International Business Machines Corporation has a 52-week low of $203.51 and a 52-week high of $301.04.

International Business Machines (NYSE:IBM) last posted its 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 return on equity of 37.62% and a net margin of 9.11%.The business had revenue of $16.98 billion during the quarter, compared to analyst estimates of $16.58 billion. During the same quarter in the previous year, the firm earned $2.43 EPS. The company’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. 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. Shareholders of record on Friday, August 8th were paid a $1.68 dividend. The ex-dividend date was Friday, August 8th. This represents a $6.72 annualized dividend and a yield of 2.4%. International Business Machines’s dividend payout ratio is currently 109.09%.

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.