International Business Machines Corporation $IBM Stake Increased by Convergence Investment Partners LLC

Convergence Investment Partners LLC increased its stake in shares of International Business Machines Corporation (NYSE:IBM) by 1.4% during the second quarter, HoldingsChannel.com reports. The firm owned 28,286 shares of the technology company’s stock after buying an additional 388 shares during the period. International Business Machines accounts for 2.1% of Convergence Investment Partners LLC’s portfolio, making the stock its 4th largest position. Convergence Investment Partners LLC’s holdings in International Business Machines were worth $8,338,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of IBM. Brighton Jones LLC raised its holdings in shares of International Business Machines by 12.4% in the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock valued at $4,619,000 after acquiring an additional 2,323 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of International Business Machines by 20.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 122,241 shares of the technology company’s stock valued at $29,838,000 after acquiring an additional 20,436 shares in the last quarter. Highland Capital Management LLC raised its holdings in shares of International Business Machines by 21.9% in the 1st quarter. Highland Capital Management LLC now owns 2,789 shares of the technology company’s stock valued at $694,000 after acquiring an additional 501 shares in the last quarter. Tsfg LLC raised its holdings in shares of International Business Machines by 34.7% in the 1st quarter. Tsfg LLC now owns 396 shares of the technology company’s stock valued at $98,000 after acquiring an additional 102 shares in the last quarter. Finally, Convergence Financial LLC raised its holdings in shares of International Business Machines by 38.0% in the 1st quarter. Convergence Financial LLC now owns 3,550 shares of the technology company’s stock valued at $883,000 after acquiring an additional 977 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

IBM opened at $307.78 on Monday. The stock’s 50 day simple moving average is $266.21 and its 200 day simple moving average is $264.07. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.93 and a quick ratio of 0.89. International Business Machines Corporation has a 1 year low of $203.51 and a 1 year high of $310.75. The firm has a market cap of $287.69 billion, a price-to-earnings ratio of 36.82, a PEG ratio of 4.33 and a beta of 0.73.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 22nd. The technology company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.20. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.The business had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.10 billion. During the same period last year, the company earned $2.30 EPS. International Business Machines’s revenue for the quarter was up 9.1% compared to the same quarter last year. International Business Machines has set its FY 2025 guidance at EPS. As a group, analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Monday, November 10th will be given a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.2%. The ex-dividend date is Monday, November 10th. International Business Machines’s dividend payout ratio (DPR) is presently 80.38%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Bank of America raised their price target on International Business Machines from $310.00 to $315.00 and gave the company a “buy” rating in a report on Thursday. Sanford C. Bernstein began coverage on International Business Machines in a report on Monday, September 15th. They set a “market perform” rating and a $280.00 price objective on the stock. BMO Capital Markets raised their price objective on International Business Machines from $300.00 to $305.00 and gave the company a “market perform” rating in a report on Thursday. Stifel Nicolaus decreased their price objective on International Business Machines from $310.00 to $295.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Erste Group Bank cut International Business Machines from a “buy” rating to a “hold” rating in a report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $288.00.

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.