June 17, 2024

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Wagner Wealth Management LLC Sells 701 Shares of International Business Machines Co. (NYSE:IBM)

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Wagner Wealth Management LLC reduced its stake in shares of International Business Machines Co. (NYSE:IBM – Free Report) by 3.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 21,674 shares of the technology company’s stock after selling 701 shares during the quarter. International Business Machines accounts for approximately 1.2% of Wagner Wealth Management LLC’s portfolio, making the stock its 18th largest position. Wagner Wealth Management LLC’s holdings in International Business Machines were worth $3,545,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Natixis Advisors L.P. lifted its stake in International Business Machines by 18.1% in the third quarter. Natixis Advisors L.P. now owns 372,307 shares of the technology company’s stock worth $52,235,000 after purchasing an additional 57,170 shares during the last quarter. Herold Advisors Inc. lifted its stake in International Business Machines by 3.2% in the third quarter. Herold Advisors Inc. now owns 21,880 shares of the technology company’s stock worth $3,070,000 after purchasing an additional 688 shares during the last quarter. Mizuho Securities Co. Ltd. bought a new stake in International Business Machines in the third quarter worth $661,000. Silicon Valley Capital Partners lifted its stake in International Business Machines by 33.6% in the third quarter. Silicon Valley Capital Partners now owns 32,245 shares of the technology company’s stock worth $4,524,000 after purchasing an additional 8,117 shares during the last quarter. Finally, Waverly Advisors LLC lifted its stake in International Business Machines by 48.1% in the third quarter. Waverly Advisors LLC now owns 19,692 shares of the technology company’s stock worth $2,763,000 after purchasing an additional 6,397 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on IBM shares. Bank of America boosted their price target on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Jefferies Financial Group began coverage on shares of International Business Machines in a research note on Friday, January 5th. They set a “hold” rating and a $180.00 price objective for the company. Evercore ISI raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $165.00 to $200.00 in a research note on Friday, January 19th. BMO Capital Markets upped their price objective on shares of International Business Machines from $155.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, January 25th. Finally, Stifel Nicolaus upped their price objective on shares of International Business Machines from $144.00 to $183.00 and gave the company a “buy” rating in a research note on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $176.85.

Check Out Our Latest Research Report on IBM

International Business Machines Price Performance

Shares of NYSE IBM opened at $190.96 on Friday. The stock has a market capitalization of $175.06 billion, a P/E ratio of 23.49, a P/E/G ratio of 3.74 and a beta of 0.70. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.96 and a quick ratio of 0.93. International Business Machines Co. has a 1 year low of $120.55 and a 1 year high of $199.18. The company’s 50-day moving average is $187.66 and its 200 day moving average is $164.65.

International Business Machines (NYSE:IBM – Get Free Report) last announced its quarterly earnings data on Wednesday, January 24th. The technology company reported $3.87 earnings per share for the quarter, topping analysts’ consensus estimates of $3.78 by $0.09. The business had revenue of $17.38 billion for the quarter, compared to analysts’ expectations of $17.29 billion. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. The business’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.60 earnings per share. On average, sell-side analysts expect that International Business Machines Co. will post 10.07 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Shareholders of record on Friday, February 9th were issued a $1.66 dividend. This represents a $6.64 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend was Thursday, February 8th. International Business Machines’s dividend payout ratio (DPR) is presently 81.67%.

About International Business Machines

(Free Report)

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.

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Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Co. (NYSE:IBM – Free Report).

Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)



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