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Gallacher Capital Management LLC lessened its holdings in International Business Machines Corporation (NYSE:IBM – Free Report) by 13.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 727 shares of the technology company’s stock after selling 110 shares during the period. Gallacher Capital Management LLC’s holdings in International Business Machines were worth $214,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the business. Blue Edge Capital LLC raised its position in International Business Machines by 0.6% in the first quarter. Blue Edge Capital LLC now owns 6,776 shares of the technology company’s stock worth $1,685,000 after purchasing an additional 39 shares in the last quarter. Tacita Capital Inc raised its position in International Business Machines by 20.8% in the first quarter. Tacita Capital Inc now owns 232 shares of the technology company’s stock worth $58,000 after purchasing an additional 40 shares in the last quarter. Pallas Capital Advisors LLC increased its holdings in shares of International Business Machines by 0.9% during the first quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company’s stock worth $1,195,000 after buying an additional 42 shares in the last quarter. DMC Group LLC raised its stake in shares of International Business Machines by 1.2% in the first quarter. DMC Group LLC now owns 3,517 shares of the technology company’s stock valued at $875,000 after acquiring an additional 42 shares during the last quarter. Finally, Fidato Wealth LLC raised its stake in shares of International Business Machines by 2.4% in the first quarter. Fidato Wealth LLC now owns 1,824 shares of the technology company’s stock valued at $454,000 after acquiring an additional 42 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.
International Business Machines Stock Up 0.5%
Shares of IBM stock opened at $257.45 on Wednesday. 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 1 year low of $203.51 and a 1 year high of $296.16. The firm’s fifty day moving average price is $256.20 and its two-hundred day moving average price is $256.99. The firm has a market capitalization of $239.27 billion, a P/E ratio of 41.79, a PEG ratio of 3.95 and a beta of 0.71.
International Business Machines (NYSE:IBM – Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $16.98 billion for the quarter, compared to analyst estimates of $16.58 billion. During the same period in the previous year, the business earned $2.43 EPS. The company’s revenue was up 7.7% compared to the same quarter last year. International Business Machines has set its FY 2025 guidance at EPS. On average, equities analysts predict that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.
International Business Machines Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were issued a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Friday, August 8th. International Business Machines’s dividend payout ratio is presently 109.09%.
Wall Street Analyst Weigh In
IBM has been the subject of a number of research analyst reports. UBS Group lifted their target price on shares of International Business Machines from $195.00 to $200.00 and gave the company a “sell” rating in a research note on Thursday, July 24th. Stifel Nicolaus lifted their target price on shares of International Business Machines from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. Melius Research upgraded shares of International Business Machines to a “strong-buy” rating in a research note on Monday, July 7th. BMO Capital Markets lifted their target price on shares of International Business Machines from $260.00 to $300.00 and gave the company a “market perform” rating in a research note on Friday, July 18th. Finally, Bank of America cut their target price on shares of International Business Machines from $320.00 to $310.00 and set a “buy” rating for the company in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, International Business Machines presently has an average rating of “Hold” and an average target price of $275.00.
View Our Latest Research Report on International Business Machines
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.
Further Reading
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