Legacy Financial Strategies LLC Acquires 1,504 Shares of International Business Machines Corporation $IBM

Legacy Financial Strategies LLC lifted its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 150.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,503 shares of the technology company’s stock after acquiring an additional 1,504 shares during the period. Legacy Financial Strategies LLC’s holdings in International Business Machines were worth $738,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Lifestyle Asset Management Inc. increased its position in shares of International Business Machines by 1.7% during the second quarter. Lifestyle Asset Management Inc. now owns 2,144 shares of the technology company’s stock worth $632,000 after acquiring an additional 36 shares in the last quarter. Blue Edge Capital LLC increased its position in shares of International Business Machines by 0.6% during the first quarter. Blue Edge Capital LLC now owns 6,776 shares of the technology company’s stock worth $1,685,000 after acquiring an additional 39 shares in the last quarter. Tacita Capital Inc boosted its holdings in International Business Machines by 20.8% during 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 during the last quarter. Global Financial Private Client LLC boosted its holdings in International Business Machines by 0.4% during the second quarter. Global Financial Private Client LLC now owns 10,548 shares of the technology company’s stock worth $3,109,000 after purchasing an additional 41 shares during the last quarter. Finally, Pallas Capital Advisors LLC boosted its holdings in 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 purchasing an additional 42 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. The Goldman Sachs Group boosted their price target on shares of International Business Machines from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. Sanford C. Bernstein assumed coverage on shares of International Business Machines in a report on Monday. They set a “market perform” rating and a $280.00 price target on the stock. Stifel Nicolaus boosted their price target on shares of International Business Machines from $290.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. UBS Group boosted their price target on shares of International Business Machines from $195.00 to $200.00 and gave the stock a “sell” rating in a report on Thursday, July 24th. Finally, Wall Street Zen upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $275.00.

International Business Machines Stock Performance

International Business Machines stock opened at $265.09 on Friday. The firm’s 50 day simple moving average is $255.14 and its 200 day simple moving average is $257.11. The firm has a market capitalization of $246.38 billion, a PE ratio of 43.03, a price-to-earnings-growth ratio of 3.99 and a beta of 0.71. International Business Machines Corporation has a 1-year low of $203.51 and a 1-year high of $296.16. 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 (NYSE:IBM) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $2.65 by $0.15. The firm had revenue of $16.98 billion for the quarter, compared to analyst estimates of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.43 EPS. International Business Machines has set its FY 2025 guidance at EPS. As a group, analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were issued a $1.68 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.5%. International Business Machines’s dividend payout ratio is presently 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.