Purkiss Capital Advisors LLC Makes New Investment in International Business Machines Corporation $IBM

Purkiss Capital Advisors LLC acquired a new position in shares of International Business Machines Corporation (NYSE:IBM) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 686 shares of the technology company’s stock, valued at approximately $202,000.

Several other hedge funds have also recently bought and sold shares of the stock. Brighton Jones LLC increased its stake in shares of International Business Machines by 12.4% in the fourth 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 in the last quarter. Monument Capital Management bought a new position in International Business Machines in the first quarter valued at about $223,000. Ameritas Advisory Services LLC boosted its holdings in International Business Machines by 4.7% in the first quarter. Ameritas Advisory Services LLC now owns 13,338 shares of the technology company’s stock valued at $3,108,000 after acquiring an additional 593 shares during the last quarter. Koshinski Asset Management Inc. boosted its holdings in International Business Machines by 5.3% in the first quarter. Koshinski Asset Management Inc. now owns 4,695 shares of the technology company’s stock valued at $1,168,000 after acquiring an additional 238 shares during the last quarter. Finally, Richardson Capital Management LLC boosted its holdings in International Business Machines by 156.4% in the first quarter. Richardson Capital Management LLC now owns 705 shares of the technology company’s stock valued at $175,000 after acquiring an additional 430 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IBM has been the topic of several recent research reports. Morgan Stanley decreased their price target on International Business Machines from $256.00 to $252.00 and set an “equal weight” rating on the stock in a report on Thursday, October 23rd. Bank of America raised their price target on International Business Machines from $310.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. The Goldman Sachs Group raised their target price on International Business Machines from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. Erste Group Bank cut International Business Machines from a “buy” rating to a “hold” rating in a report on Thursday, August 14th. Finally, Weiss Ratings upgraded International Business Machines from a “hold (c+)” rating to a “buy (b)” rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $288.00.

International Business Machines Trading Down 0.1%

NYSE IBM opened at $312.90 on Wednesday. The firm has a market cap of $292.47 billion, a P/E ratio of 37.43, a P/E/G ratio of 4.40 and a beta of 0.73. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.93 and a quick ratio of 0.89. The stock’s 50-day moving average is $269.11 and its 200-day moving average is $265.19. International Business Machines Corporation has a one year low of $203.51 and a one year high of $319.35.

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

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.1%. International Business Machines’s dividend payout ratio (DPR) is currently 80.38%.

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.