Envestnet Asset Management Inc. Acquires 75,393 Shares of International Business Machines Corporation $IBM

Envestnet Asset Management Inc. lifted its holdings in International Business Machines Corporation (NYSE:IBM) by 5.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,415,043 shares of the technology company’s stock after acquiring an additional 75,393 shares during the period. Envestnet Asset Management Inc.’s holdings in International Business Machines were worth $417,125,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Brighton Jones LLC grew its stake in shares of International Business Machines by 12.4% in the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock valued at $4,619,000 after buying an additional 2,323 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of International Business Machines by 20.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 122,241 shares of the technology company’s stock valued at $29,838,000 after buying an additional 20,436 shares during the period. Highland Capital Management LLC grew its stake in shares of International Business Machines by 21.9% in the 1st quarter. Highland Capital Management LLC now owns 2,789 shares of the technology company’s stock valued at $694,000 after buying an additional 501 shares during the period. Tsfg LLC grew its stake in shares of International Business Machines by 34.7% in the 1st quarter. Tsfg LLC now owns 396 shares of the technology company’s stock valued at $98,000 after buying an additional 102 shares during the period. Finally, Convergence Financial LLC grew its stake in shares of International Business Machines by 38.0% in the 1st quarter. Convergence Financial LLC now owns 3,550 shares of the technology company’s stock valued at $883,000 after buying an additional 977 shares during the period. 58.96% of the stock is owned by institutional investors.

International Business Machines Price Performance

International Business Machines stock opened at $307.78 on Monday. International Business Machines Corporation has a 52 week low of $203.51 and a 52 week high of $310.75. The company’s 50 day moving average price is $266.21 and its two-hundred day moving average price is $264.07. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 1.97. The stock has a market cap of $287.69 billion, a P/E ratio of 36.82, a P/E/G ratio of 4.33 and a beta of 0.73.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, October 22nd. The technology company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.45 by $0.20. International Business Machines had a net margin of 12.09% and a return on equity of 37.76%. The firm had revenue of $16.33 billion for the quarter, compared to analysts’ expectations of $16.10 billion. During the same quarter last year, the firm earned $2.30 EPS. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. International Business Machines has set its FY 2025 guidance at EPS. On average, equities analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th will be given a dividend of $1.68 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $6.72 annualized dividend and a dividend yield of 2.2%. International Business Machines’s dividend payout ratio (DPR) is currently 80.38%.

Analyst Ratings Changes

Several analysts have recently commented on IBM shares. The Goldman Sachs Group raised their target price on International Business Machines from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. Erste Group Bank downgraded International Business Machines from a “buy” rating to a “hold” rating in a research note on Thursday, August 14th. Stifel Nicolaus cut their price target on International Business Machines from $310.00 to $295.00 and set a “buy” rating for the company in a research note on Thursday. Melius Research upgraded International Business Machines to a “strong-buy” rating in a research note on Monday, July 7th. Finally, UBS Group lifted their price target on International Business Machines from $200.00 to $210.00 and gave the company a “sell” rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, International Business Machines currently has an average rating of “Moderate Buy” and an average price target of $288.00.

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.