Cardinal Capital Management Buys 371 Shares of International Business Machines Corporation $IBM

Cardinal Capital Management boosted its stake in shares of International Business Machines Corporation (NYSE:IBM) by 0.8% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 44,290 shares of the technology company’s stock after purchasing an additional 371 shares during the period. International Business Machines makes up approximately 1.9% of Cardinal Capital Management’s portfolio, making the stock its 10th biggest holding. Cardinal Capital Management’s holdings in International Business Machines were worth $13,056,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its position in shares of International Business Machines by 12.4% in the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock valued at $4,619,000 after buying an additional 2,323 shares during the last quarter. Vermillion Wealth Management Inc. acquired a new stake in shares of International Business Machines during the fourth quarter valued at about $116,000. Ameriflex Group Inc. acquired a new position in International Business Machines in the 4th quarter valued at about $208,000. Liberty Square Wealth Partners LLC acquired a new position in International Business Machines during the 4th quarter worth $238,000. Finally, Armis Advisers LLC acquired a new position in shares of International Business Machines during the 4th quarter worth about $271,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Up 2.1%

IBM opened at $271.87 on Tuesday. International Business Machines Corporation has a 1 year low of $203.51 and a 1 year high of $296.16. The company has a market cap of $252.67 billion, a PE ratio of 44.13, a price-to-earnings-growth ratio of 4.10 and a beta of 0.71. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. The firm has a 50 day moving average price of $254.58 and a 200 day moving average price of $257.38.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data 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. The company 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 revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the company earned $2.43 earnings per share. International Business Machines has set its FY 2025 guidance at EPS. Sell-side analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were paid a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Friday, August 8th. International Business Machines’s dividend payout ratio (DPR) is 109.09%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on IBM shares. Bank of America lowered their price target on International Business Machines from $320.00 to $310.00 and set a “buy” rating for the company in a report on Thursday, July 24th. Wedbush upped their price objective on shares of International Business Machines from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday, June 20th. BMO Capital Markets upped 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 note on Friday, July 18th. JPMorgan Chase & Co. upped their price objective 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. Finally, Wall Street Zen raised International Business Machines from a “hold” rating to a “buy” rating in a research 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 assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $275.00.

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.