Ballentine Partners LLC has increased its holdings in International Business Machines Co. by 10.6% in the first quarter, according to its recent SEC filing. The fund now owns 14,367 shares of IBM worth $2,744,000. Other institutional investors and hedge funds have also modified their holdings of IBM, including Naples Money Management LLC, Creekmur Asset Management LLC, Ables Iannone Moore & Associates Inc., Versant Capital Management Inc, and Stone House Investment Management LLC.
The stock of International Business Machines (IBM) has increased by 2.5%, reaching $176.85 on the New York Stock Exchange. The company’s market capitalization is $162.45 billion with a P/E ratio of 19.53 and a beta of 0.72. IBM reported earnings of $1.68 per share for the quarter, with revenue of $14.46 billion. The company achieved a return on equity of 40.21% and a net margin of 13.18%. IBM also announced an increase in its quarterly dividend, now at $1.67 per share.
Wall Street analysts have given various ratings to IBM, including price target increases and decreases. The stock currently has a consensus rating of “Hold” with an average price target of $182.53. IBM provides integrated solutions and services worldwide through its Software, Consulting, Infrastructure, and Financing segments, catering to digital and AI transformations for customers across applications, data, and environments. Investors can receive daily news and analyst ratings for IBM through MarketBeat.com.
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https://www.defenseworld.net/2024/06/24/ballentine-partners-llc-acquires-1381-shares-of-international-business-machines-co-nyseibm.html