Adams Wealth Management Acquires New Position in International Business Machines Corporation $IBM

Adams Wealth Management acquired a new position in International Business Machines Corporation (NYSE:IBM) in the second quarter, HoldingsChannel reports. The institutional investor acquired 1,965 shares of the technology company’s stock, valued at approximately $579,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IBM. Vanguard Group Inc. grew its holdings in International Business Machines by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 95,051,475 shares of the technology company’s stock valued at $28,019,274,000 after buying an additional 1,913,708 shares in the last quarter. State Street Corp boosted its position in shares of International Business Machines by 0.3% during the second quarter. State Street Corp now owns 54,536,963 shares of the technology company’s stock worth $16,076,406,000 after acquiring an additional 147,721 shares during the last quarter. Geode Capital Management LLC grew its stake in International Business Machines by 1.9% during the second quarter. Geode Capital Management LLC now owns 21,936,235 shares of the technology company’s stock valued at $6,444,527,000 after acquiring an additional 400,131 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in International Business Machines by 6.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,636,725 shares of the technology company’s stock valued at $2,147,608,000 after acquiring an additional 524,633 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in International Business Machines by 3.4% in the 2nd quarter. Legal & General Group Plc now owns 7,126,503 shares of the technology company’s stock valued at $2,100,751,000 after acquiring an additional 234,318 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on IBM shares. UBS Group reissued a “sell” rating on shares of International Business Machines in a report on Tuesday, December 9th. Sanford C. Bernstein restated a “market perform” rating on shares of International Business Machines in a report on Wednesday. Oppenheimer initiated coverage on International Business Machines in a research note on Friday, November 21st. They issued an “outperform” rating and a $360.00 price objective on the stock. Stifel Nicolaus increased their target price on International Business Machines from $295.00 to $325.00 and gave the company a “buy” rating in a research report on Tuesday, December 9th. Finally, Bank of America raised their target price on shares of International Business Machines from $310.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $293.38.

International Business Machines Stock Performance

NYSE:IBM opened at $309.33 on Monday. The firm has a market capitalization of $289.14 billion, a PE ratio of 37.00, a PEG ratio of 3.08 and a beta of 0.69. The stock’s fifty day moving average is $299.47 and its 200 day moving average is $278.32. International Business Machines Corporation has a fifty-two week low of $214.50 and a fifty-two week high of $324.90. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.89 and a current ratio of 0.93.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 22nd. The technology company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.45 by $0.20. International Business Machines had a net margin of 12.09% and a return on equity of 37.76%. The company had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.10 billion. During the same period in the previous year, the firm earned $2.30 earnings per share. International Business Machines’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, sell-side analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Monday, November 10th were given a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Monday, November 10th. International Business Machines’s dividend payout ratio is 80.38%.

International Business Machines Profile

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.