International Business Machines Corporation $IBM Shares Purchased by First City Capital Management Inc.

First City Capital Management Inc. boosted its position in shares of International Business Machines Corporation (NYSE:IBM) by 0.4% in the second quarter, HoldingsChannel.com reports. The fund owned 9,796 shares of the technology company’s stock after purchasing an additional 43 shares during the period. International Business Machines accounts for 1.7% of First City Capital Management Inc.’s holdings, making the stock its 14th largest position. First City Capital Management Inc.’s holdings in International Business Machines were worth $2,888,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in IBM. Brighton Jones LLC increased its stake in International Business Machines by 12.4% during the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock worth $4,619,000 after buying an additional 2,323 shares during the period. Total Wealth Planning & Management Inc. acquired a new position in shares of International Business Machines in the fourth quarter worth $248,000. Park Square Financial Group LLC purchased a new stake in shares of International Business Machines during the fourth quarter worth $43,000. Wood Tarver Financial Group LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at $76,000. Finally, IronOak Wealth LLC. purchased a new position in International Business Machines in the fourth quarter valued at $235,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on IBM. Wall Street Zen upgraded International Business Machines from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Bank of America reduced their target price on shares of International Business Machines from $320.00 to $310.00 and set a “buy” rating on the stock in a report on Thursday, July 24th. BMO Capital Markets boosted their price target on shares of International Business Machines from $260.00 to $300.00 and gave the stock a “market perform” rating in a report on Friday, July 18th. Erste Group Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Thursday, August 14th. Finally, Stifel Nicolaus boosted their target price on shares of International Business Machines from $290.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, International Business Machines has an average rating of “Hold” and an average target price of $275.00.

International Business Machines Stock Down 1.6%

IBM stock opened at $267.77 on Thursday. The stock has a market cap of $248.87 billion, a P/E ratio of 43.47, a PEG ratio of 4.19 and a beta of 0.71. 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 twelve month low of $203.51 and a twelve month high of $296.16. The company’s 50 day moving average is $254.10 and its two-hundred day moving average is $257.55.

International Business Machines (NYSE:IBM) last issued its 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 business had revenue of $16.98 billion during the quarter, compared to analysts’ expectations of $16.58 billion. During the same quarter in the prior year, the business posted $2.43 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. Research 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 company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were given a dividend of $1.68 per share. The ex-dividend date 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 payout ratio is 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.