Fortitude Advisory Group L.L.C. Boosts Stock Holdings in International Business Machines Corporation $IBM

Fortitude Advisory Group L.L.C. grew its position in shares of International Business Machines Corporation (NYSE:IBM) by 14.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,123 shares of the technology company’s stock after buying an additional 528 shares during the quarter. International Business Machines accounts for 0.7% of Fortitude Advisory Group L.L.C.’s portfolio, making the stock its 26th largest position. Fortitude Advisory Group L.L.C.’s holdings in International Business Machines were worth $1,215,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Family CFO Inc purchased a new stake in shares of International Business Machines during the second quarter valued at approximately $25,000. Christopher J. Hasenberg Inc purchased a new stake in shares of International Business Machines during the first quarter valued at approximately $27,000. SSA Swiss Advisors AG purchased a new stake in shares of International Business Machines during the first quarter valued at approximately $28,000. Highline Wealth Partners LLC grew its holdings in shares of International Business Machines by 85.0% during the second quarter. Highline Wealth Partners LLC now owns 111 shares of the technology company’s stock valued at $33,000 after buying an additional 51 shares during the last quarter. Finally, Dagco Inc. purchased a new stake in shares of International Business Machines during the first quarter valued at approximately $31,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 0.7%

IBM opened at $288.62 on Friday. 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 1-year low of $203.51 and a 1-year high of $296.16. The company has a market capitalization of $268.25 billion, a PE ratio of 46.85, a PEG ratio of 4.44 and a beta of 0.73. The firm’s 50 day simple moving average is $255.18 and its two-hundred day simple moving average is $259.27.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, topping 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 the consensus estimate of $16.58 billion. During the same period last year, the firm earned $2.43 earnings per share. The company’s quarterly 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, equities analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently announced 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 was Friday, August 8th. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.3%. International Business Machines’s payout ratio is 109.09%.

Analyst Upgrades and Downgrades

IBM has been the topic of several research reports. JPMorgan Chase & Co. raised their target price on shares of International Business Machines from $244.00 to $290.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Wall Street Zen upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Erste Group Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Thursday, August 14th. BMO Capital Markets raised 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 report on Friday, July 18th. Finally, The Goldman Sachs Group raised their target price 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. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, International Business Machines has an average rating of “Hold” and an average price target of $284.62.

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.