Drive Wealth Management LLC Has $705,000 Holdings in International Business Machines Corporation $IBM

Drive Wealth Management LLC increased its position in shares of International Business Machines Corporation (NYSE:IBM) by 16.0% during the second quarter, Holdings Channel reports. The fund owned 2,392 shares of the technology company’s stock after acquiring an additional 330 shares during the quarter. Drive Wealth Management LLC’s holdings in International Business Machines were worth $705,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Family CFO Inc acquired a new stake in shares of International Business Machines during the second quarter valued at approximately $25,000. Christopher J. Hasenberg Inc acquired a new stake in shares of International Business Machines during the first quarter valued at approximately $27,000. SSA Swiss Advisors AG acquired a new stake in shares of International Business Machines during the first quarter valued at approximately $28,000. Dagco Inc. acquired a new stake in shares of International Business Machines during the first quarter valued at approximately $31,000. Finally, Silicon Valley Capital Partners raised its holdings in shares of International Business Machines by 322.6% during the first quarter. Silicon Valley Capital Partners now owns 131 shares of the technology company’s stock valued at $32,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of research analyst reports. Erste Group Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Thursday, August 14th. Wall Street Zen downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of International Business Machines in a research report on Wednesday, October 8th. BMO Capital Markets boosted 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 research report on Friday, July 18th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $315.00 price objective on shares of International Business Machines in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, International Business Machines currently has a consensus rating of “Hold” and an average price target of $286.38.

International Business Machines Stock Performance

IBM stock opened at $280.95 on Monday. 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 firm has a 50 day moving average of $261.07 and a two-hundred day moving average of $261.86. The company has a market capitalization of $261.12 billion, a price-to-earnings ratio of 45.61, a P/E/G ratio of 4.33 and a beta of 0.73. International Business Machines Corporation has a 12 month low of $203.51 and a 12 month high of $301.04.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.15. The business had revenue of $16.98 billion during the quarter, compared to the consensus estimate of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. International Business Machines’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.43 EPS. International Business Machines has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

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

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.