LVW Advisors LLC reported acquiring a new stake in International Business Machines Co. during the first quarter, with 1,728 shares valued at approximately $330,000. Other institutional investors and hedge funds have also made changes to their positions in IBM. Vanguard Group Inc. increased its holding by 0.4% in the third quarter, now owning over 82 million shares. Morgan Stanley, Charles Schwab Investment Management Inc., Norges Bank, and Dimensional Fund Advisors LP, among others, have also increased their stakes in the tech company.
Several Wall Street analysts have shared their insights on IBM, with price targets ranging from $165.00 to $220.00. The company’s stock price currently stands at $172.95, with a market cap of $158.87 billion. IBM recently reported quarterly earnings that exceeded expectations, with a revenue increase of 1.5% compared to the previous year. The company also raised its dividend to $1.67 per share, reflecting a positive outlook on future growth.
International Business Machines Corporation operates worldwide, providing integrated solutions in software, consulting, infrastructure, and finance sectors. The company’s focus on hybrid cloud and AI platforms has positioned it for digital transformation in various industries. Analysts expect IBM to post earnings per share of $9.9 for the current fiscal year.
Overall, the sentiment among analysts is mixed, with three rating the stock as a sell, six as hold, and seven as buy. Despite some varying opinions, IBM’s average rating is “Hold” with an average price target of $182.53. With recent acquisitions and a strong financial performance, International Business Machines continues to be a key player in the technology sector, poised for future growth and innovation.
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