New Wave Wealth Advisors LLC Buys New Stake in International Business Machines Corporation $IBM

New Wave Wealth Advisors LLC purchased a new stake in International Business Machines Corporation (NYSE:IBM) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 763 shares of the technology company’s stock, valued at approximately $225,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in International Business Machines by 1.4% in the first quarter. Vanguard Group Inc. now owns 93,137,767 shares of the technology company’s stock valued at $23,159,637,000 after buying an additional 1,298,515 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in International Business Machines by 6.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,636,725 shares of the technology company’s stock valued at $2,147,608,000 after buying an additional 524,633 shares in the last quarter. Ameriprise Financial Inc. boosted its position in International Business Machines by 1.0% in the first quarter. Ameriprise Financial Inc. now owns 5,516,240 shares of the technology company’s stock valued at $1,371,812,000 after buying an additional 52,317 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of International Business Machines by 20.8% during the first quarter. Goldman Sachs Group Inc. now owns 5,157,846 shares of the technology company’s stock worth $1,282,550,000 after purchasing an additional 889,008 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of International Business Machines by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 5,108,455 shares of the technology company’s stock worth $1,270,022,000 after purchasing an additional 24,790 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Trading Up 1.5%

Shares of NYSE IBM opened at $286.46 on Thursday. The company’s 50 day simple moving average is $254.07 and its 200 day simple moving average is $258.70. International Business Machines Corporation has a fifty-two week low of $203.51 and a fifty-two week high of $296.16. The firm has a market capitalization of $266.23 billion, a P/E ratio of 46.50, a P/E/G ratio of 4.34 and a beta of 0.73. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87.

International Business Machines (NYSE:IBM) last announced 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 net margin of 9.11% and a return on equity of 37.62%. The business had revenue of $16.98 billion for the quarter, compared to analyst estimates of $16.58 billion. During the same period in the prior year, the business posted $2.43 earnings per share. International Business Machines’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, analysts predict that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were paid a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.3%. 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

A number of equities analysts have recently issued reports on IBM shares. Melius Research upgraded shares of International Business Machines to a “strong-buy” rating in a research report on Monday, July 7th. JPMorgan Chase & Co. upped their target price on shares of International Business Machines from $244.00 to $290.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Sanford C. Bernstein started coverage on shares of International Business Machines in a research report on Monday, September 15th. They set a “market perform” rating and a $280.00 target price on the stock. 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 research report on Thursday, July 24th. Finally, BMO Capital Markets upped their target price on shares of International Business Machines from $260.00 to $300.00 and gave the stock a “market perform” rating in a research report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $279.29.

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.