Fingerlakes Wealth Management Inc. Has $360,000 Stake in International Business Machines Corporation $IBM

Fingerlakes Wealth Management Inc. cut its holdings in International Business Machines Corporation (NYSE:IBM) by 4.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,222 shares of the technology company’s stock after selling 51 shares during the quarter. Fingerlakes Wealth Management Inc.’s holdings in International Business Machines were worth $360,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of IBM. Family CFO Inc bought a new stake in shares of International Business Machines during the second quarter worth $25,000. Christopher J. Hasenberg Inc acquired a new position in International Business Machines in the 1st quarter worth $27,000. SSA Swiss Advisors AG acquired a new position in International Business Machines in the 1st quarter worth $28,000. Highline Wealth Partners LLC increased its holdings in International Business Machines by 85.0% during the 2nd quarter. Highline Wealth Partners LLC now owns 111 shares of the technology company’s stock worth $33,000 after purchasing an additional 51 shares in the last quarter. Finally, Dagco Inc. acquired a new stake in shares of International Business Machines in the 1st quarter valued at about $31,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Up 0.8%

NYSE:IBM opened at $283.64 on Tuesday. International Business Machines Corporation has a twelve month low of $203.51 and a twelve month high of $301.04. The firm has a market capitalization of $263.61 billion, a price-to-earnings ratio of 46.05, a price-to-earnings-growth ratio of 4.33 and a beta of 0.73. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. The stock’s 50 day moving average price is $262.02 and its two-hundred day moving average price is $262.25.

International Business Machines (NYSE:IBM) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate 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 firm posted $2.43 EPS. International Business Machines has set its FY 2025 guidance at EPS. Equities research analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were paid a dividend of $1.68 per share. 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%.

Analyst Upgrades and Downgrades

IBM has been the subject of several recent research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of International Business Machines in a research report on Wednesday, October 8th. Royal Bank Of Canada restated an “outperform” rating and issued a $315.00 target price on shares of International Business Machines in a research note on Thursday, October 16th. 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 target for the company. Jefferies Financial Group reiterated a “hold” rating on shares of International Business Machines in a report on Tuesday. Finally, Bank of America cut their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $286.38.

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.