Essex LLC Has $2.91 Million Stock Position in International Business Machines Corporation $IBM

Essex LLC lifted its holdings in International Business Machines Corporation (NYSE:IBM) by 0.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,866 shares of the technology company’s stock after acquiring an additional 78 shares during the period. Essex LLC’s holdings in International Business Machines were worth $2,908,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in IBM. Ritholtz Wealth Management increased its position in shares of International Business Machines by 8.6% in the second quarter. Ritholtz Wealth Management now owns 15,322 shares of the technology company’s stock worth $4,517,000 after purchasing an additional 1,207 shares during the period. Triton Wealth Management PLLC bought a new stake in shares of International Business Machines during the second quarter worth $440,000. Private Wealth Asset Management LLC increased its holdings in International Business Machines by 0.4% in the 2nd quarter. Private Wealth Asset Management LLC now owns 29,196 shares of the technology company’s stock worth $8,606,000 after purchasing an additional 109 shares in the last quarter. Harbour Investments Inc. increased its stake in shares of International Business Machines by 19.6% in the second quarter. Harbour Investments Inc. now owns 8,458 shares of the technology company’s stock valued at $2,493,000 after buying an additional 1,389 shares during the period. Finally, JGP Wealth Management LLC grew its holdings in International Business Machines by 20.8% during the 2nd quarter. JGP Wealth Management LLC now owns 1,738 shares of the technology company’s stock worth $512,000 after acquiring an additional 299 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on IBM shares. Wedbush lifted their price target on shares of International Business Machines from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, June 20th. Melius Research raised International Business Machines to a “strong-buy” rating in a research report on Monday, July 7th. JPMorgan Chase & Co. upped their price target on International Business Machines from $244.00 to $290.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Sanford C. Bernstein initiated coverage on International Business Machines in a research report on Monday, September 15th. They set a “market perform” rating and a $280.00 price objective for the company. Finally, Royal Bank Of Canada lifted their price objective on International Business Machines from $285.00 to $315.00 and gave the stock an “outperform” rating in a research note on Thursday, July 17th. One equities research 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $284.62.

International Business Machines Stock Performance

IBM stock opened at $276.12 on Wednesday. The stock has a 50-day moving average price of $259.20 and a 200-day moving average price of $261.11. International Business Machines Corporation has a 1-year low of $203.51 and a 1-year high of $301.04. 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 firm has a market cap of $256.63 billion, a PE ratio of 44.83, a price-to-earnings-growth ratio of 4.27 and a beta of 0.73.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, beating the consensus estimate of $2.65 by $0.15. The company had revenue of $16.98 billion for the quarter, compared to analyst estimates of $16.58 billion. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.43 EPS. International Business Machines has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were paid a $1.68 dividend. The ex-dividend date was Friday, August 8th. This represents a $6.72 annualized dividend and a dividend yield of 2.4%. International Business Machines’s payout ratio is currently 109.09%.

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.