Austin Asset Management Co Inc Purchases 914 Shares of International Business Machines Corporation $IBM

Austin Asset Management Co Inc boosted its position in shares of International Business Machines Corporation (NYSE:IBM) by 113.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,721 shares of the technology company’s stock after buying an additional 914 shares during the quarter. Austin Asset Management Co Inc’s holdings in International Business Machines were worth $507,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in IBM. GQG Partners LLC bought a new position in International Business Machines in the 1st quarter worth $1,040,057,000. Nuveen LLC purchased a new stake in International Business Machines during the 1st quarter valued at about $960,386,000. Vanguard Group Inc. grew its position in International Business Machines by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 93,137,767 shares of the technology company’s stock valued at $23,159,637,000 after purchasing an additional 1,298,515 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in International Business Machines by 41.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,164,987 shares of the technology company’s stock valued at $787,007,000 after purchasing an additional 930,448 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in International Business Machines by 20.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,157,846 shares of the technology company’s stock valued at $1,282,550,000 after purchasing an additional 889,008 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Performance

IBM opened at $289.31 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00. The company has a market cap of $268.88 billion, a price-to-earnings ratio of 46.97, a PEG ratio of 4.52 and a beta of 0.73. The company’s 50 day moving average is $256.92 and its 200 day moving average is $260.14. International Business Machines Corporation has a 12-month low of $203.51 and a 12-month high of $301.04.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $16.98 billion for the quarter, compared to the consensus estimate of $16.58 billion. During the same quarter last year, the firm posted $2.43 earnings per share. The firm’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, equities research analysts predict that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were issued a dividend of $1.68 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $6.72 annualized dividend and a yield of 2.3%. International Business Machines’s payout ratio is currently 109.09%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on IBM. Erste Group Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Thursday, August 14th. Sanford C. Bernstein initiated coverage on shares of International Business Machines in a report on Monday, September 15th. They set a “market perform” rating and a $280.00 price target on the stock. Bank of America dropped their price target 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. Stifel Nicolaus raised their price target on shares of International Business Machines from $290.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. Finally, The Goldman Sachs Group raised their price target on shares of International Business Machines from $270.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.