Financial Synergies Wealth Advisors Inc. significantly boosted its stake in International Business Machines Co. during the first quarter, according to recent SEC filings. The firm acquired 123 additional shares, bringing its total holdings to 198 shares valued at $38,000. Other hedge funds, including Naples Money Management LLC, Creekmur Asset Management LLC, and Ables Iannone Moore & Associates Inc., have also increased their positions in IBM. Additionally, Stone House Investment Management LLC and Financial Gravity Asset Management Inc. have upped their stakes in the technology company.
IBM’s stock opened at $175.02 on Tuesday, with a 50-day moving average of $170.79 and a 200-day moving average of $176.33. The one-year price range for IBM is between $129.31 and $199.18. The company’s market capitalization is $160.77 billion, with a PE ratio of 19.82 and a debt-equity ratio of 2.32.
In terms of performance, IBM reported earnings of $1.68 per share for the most recent quarter, surpassing analyst estimates by $0.09. The company’s revenue for the quarter was $14.46 billion, slightly below expectations. IBM’s net margin was 13.18%, and its return on equity was 40.21%. Analysts predict earnings per share at 9.9 for the current year.
IBM also announced an increased quarterly dividend, paid on June 10th, resulting in an annualized dividend of $6.68 per share and a dividend yield of 3.82%. The company’s payout ratio stands at 75.65%.
Several equity research analysts have provided ratings and price targets for IBM stock. Stifel Nicolaus reaffirmed a “buy” rating with a $190.00 price target, while StockNews.com upgraded the stock from “hold” to “buy.” Other analysts from Sanford C. Bernstein, Wedbush, and UBS Group have also adjusted their price targets for IBM. Overall, IBM’s consensus rating is “Hold” with an average price target of $182.53.
IBM, a global provider of integrated solutions and services, operates through segments such as Software, Consulting, Infrastructure, and Financing. The company offers hybrid cloud and AI platforms to support customers in their digital and AI transformations.
For more information on hedge fund holdings and insider trading related to IBM, investors can visit HoldingsChannel.com for the latest 13F filings and updates on International Business Machines Co.
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https://www.defenseworld.net/2024/06/25/international-business-machines-co-nyseibm-shares-acquired-by-financial-synergies-wealth-advisors-inc.html