Promethium Advisors LLC Grows Stock Holdings in International Business Machines Corporation $IBM

by · The Cerbat Gem

Promethium Advisors LLC raised its stake in shares of International Business Machines Corporation (NYSE:IBM – Free Report) by 22.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,235 shares of the technology company’s stock after acquiring an additional 772 shares during the quarter. Promethium Advisors LLC’s holdings in International Business Machines were worth $1,053,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IBM. MinichMacGregor Wealth Management LLC acquired a new position in shares of International Business Machines in the first quarter worth about $396,000. Brooklyn Investment Group lifted its holdings in shares of International Business Machines by 32.7% during the 1st quarter. Brooklyn Investment Group now owns 6,622 shares of the technology company’s stock worth $1,647,000 after acquiring an additional 1,630 shares during the period. Edgar Lomax Co. VA raised its stake in International Business Machines by 5.7% during the first quarter. Edgar Lomax Co. VA now owns 235,967 shares of the technology company’s stock worth $58,676,000 after acquiring an additional 12,690 shares in the last quarter. Left Brain Wealth Management LLC grew its position in International Business Machines by 1,547.8% during the 1st quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company’s stock worth $4,392,000 after acquiring an additional 16,592 shares during the last quarter. Finally, Alpha Cubed Investments LLC increased its holdings in shares of International Business Machines by 47.0% in the first quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company’s stock valued at $1,867,000 after purchasing an additional 2,399 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Price Performance

NYSE:IBM opened at $243.59 on Tuesday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. The stock has a fifty day moving average of $264.80 and a 200 day moving average of $257.51. The firm has a market capitalization of $226.39 billion, a price-to-earnings ratio of 39.54, a P/E/G ratio of 3.75 and a beta of 0.71. International Business Machines Corporation has a 52-week low of $198.27 and a 52-week high of $296.16.

International Business Machines (NYSE:IBM – Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.15. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.The firm had revenue of $16.98 billion during the quarter, compared to analysts’ expectations of $16.58 billion. During the same period in the prior year, the business earned $2.43 EPS. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. International Business Machines has set its FY 2025 guidance at EPS. On average, research analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 8th will be paid a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, August 8th. International Business Machines’s dividend payout ratio is presently 109.09%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on IBM shares. Melius Research raised International Business Machines to a “strong-buy” rating in a research note on Monday, July 7th. Wall Street Zen raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. The Goldman Sachs Group raised their price target on shares of International Business Machines from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. UBS Group boosted their price objective on International Business Machines from $195.00 to $200.00 and gave the company a “sell” rating in a research note on Thursday, July 24th. Finally, BMO Capital Markets upped their price objective on shares of International Business Machines from $260.00 to $300.00 and gave the company a “market perform” rating in a report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $268.75.

View Our Latest Analysis on International Business Machines

International Business Machines Company Profile

(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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