International Business Machines Corporation $IBM Stock Position Raised by Summit Financial LLC

Summit Financial LLC lifted its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 131.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 54,221 shares of the technology company’s stock after buying an additional 30,827 shares during the period. Summit Financial LLC’s holdings in International Business Machines were worth $13,483,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Blue Edge Capital LLC raised its holdings in shares of International Business Machines by 0.6% during the 1st quarter. Blue Edge Capital LLC now owns 6,776 shares of the technology company’s stock valued at $1,685,000 after purchasing an additional 39 shares in the last quarter. Tacita Capital Inc grew its stake in International Business Machines by 20.8% in the 1st quarter. Tacita Capital Inc now owns 232 shares of the technology company’s stock valued at $58,000 after buying an additional 40 shares during the last quarter. Pallas Capital Advisors LLC grew its stake in International Business Machines by 0.9% in the 1st quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company’s stock valued at $1,195,000 after buying an additional 42 shares during the last quarter. DMC Group LLC grew its stake in International Business Machines by 1.2% in the 1st quarter. DMC Group LLC now owns 3,517 shares of the technology company’s stock valued at $875,000 after buying an additional 42 shares during the last quarter. Finally, Fidato Wealth LLC grew its stake in International Business Machines by 2.4% in the 1st quarter. Fidato Wealth LLC now owns 1,824 shares of the technology company’s stock valued at $454,000 after buying an additional 42 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. KGI Securities set a $242.00 target price on shares of International Business Machines and gave the company a “hold” rating in a research note on Thursday, April 24th. BMO Capital Markets raised 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. JPMorgan Chase & Co. raised their target price on shares of International Business Machines from $244.00 to $290.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Stifel Nicolaus raised their price target on shares of International Business Machines from $290.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Finally, Bank of America decreased their price target on shares of International Business Machines from $320.00 to $310.00 and set a “buy” rating on the stock in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $268.75.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $242.3790 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00. The stock’s fifty day simple moving average is $271.15 and its two-hundred day simple moving average is $258.32. International Business Machines Corporation has a 1-year low of $194.12 and a 1-year high of $296.16. The stock has a market cap of $225.27 billion, a PE ratio of 39.35, a price-to-earnings-growth ratio of 3.71 and a beta of 0.69.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $16.58 billion. During the same period last year, the business earned $2.43 EPS. The business’s revenue was up 7.7% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. As a group, analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

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.