Wealthedge Investment Advisors LLC Invests $622,000 in International Business Machines Corporation $IBM

Wealthedge Investment Advisors LLC bought a new stake in International Business Machines Corporation (NYSE:IBM) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,212 shares of the technology company’s stock, valued at approximately $622,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Basepoint Wealth LLC acquired a new stake in shares of International Business Machines during the 4th quarter worth $25,000. Portus Wealth Advisors LLC acquired a new position in International Business Machines in the first quarter valued at $26,000. Joseph Group Capital Management purchased a new stake in International Business Machines during the fourth quarter valued at about $28,000. Cornerstone Financial Management LLC acquired a new stake in International Business Machines during the fourth quarter worth about $28,000. Finally, SWAN Capital LLC purchased a new position in shares of International Business Machines in the 3rd quarter worth about $28,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Stifel Nicolaus decreased their target price on International Business Machines from $290.00 to $235.00 and set a “buy” rating for the company in a report on Monday, July 20th. KeyCorp cut shares of International Business Machines to a “sector weight” rating in a research report on Tuesday, June 23rd. JPMorgan Chase & Co. decreased their price objective on shares of International Business Machines from $291.00 to $250.00 and set an “overweight” rating for the company in a research note on Friday, July 17th. Argus cut their target price on shares of International Business Machines from $360.00 to $280.00 and set a “buy” rating on the stock in a research note on Thursday, July 16th. Finally, Citigroup reduced their target price on shares of International Business Machines from $255.00 to $245.00 and set a “buy” rating on the stock in a report on Friday, July 24th. Sixteen research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, International Business Machines currently has a consensus rating of “Moderate Buy” and an average target price of $265.40.

International Business Machines Stock Down 1.6%

NYSE IBM opened at $233.40 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.63. International Business Machines Corporation has a fifty-two week low of $199.19 and a fifty-two week high of $332.46. The business has a 50 day moving average price of $247.90 and a two-hundred day moving average price of $250.98. The stock has a market cap of $219.89 billion, a PE ratio of 20.71, a P/E/G ratio of 2.33 and a beta of 0.70.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 22nd. The technology company reported $2.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.93. The company had revenue of $17.16 billion for the quarter, compared to analyst estimates of $17.46 billion. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.80 earnings per share. As a group, sell-side analysts predict that International Business Machines Corporation will post 12.33 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 10th will be issued a $1.69 dividend. The ex-dividend date is Monday, August 10th. This represents a $6.76 dividend on an annualized basis and a yield of 2.9%. International Business Machines’s payout ratio is currently 59.98%.

Key International Business Machines News

Here are the key news stories impacting International Business Machines this week:

• Positive Sentiment: IBM successfully connected and cooled two modular cryogenic systems to below 15 millikelvin, creating an architecture intended to link hundreds of quantum chips. The company says the design supports its goal of a 1,000-programmable-qubit system and the planned Quantum Starling fault-tolerant computer in 2029. IBM Connects Its First Modular Cryogenic Systems in Milestone Toward Fault-Tolerant Quantum Computing
• Positive Sentiment: The quantum announcement has generated favorable coverage and previously supported gains in IBM shares, reinforcing the company’s positioning in the emerging quantum-computing race. If IBM meets its roadmap, the technology could create a significant long-term growth opportunity beyond its traditional software, consulting and infrastructure businesses. IBM Clears Major Hardware Hurdle on the Path to Its Quantum Supercomputer
• Neutral Sentiment: IBM-related customer news highlighted continued use of IBM Maximo software for industrial safety and asset management. The award provides third-party validation for the platform, but its near-term financial impact appears limited. CEPR and Cohesive Receive Maximo Award for Power Plant Health and Safety Excellence
• Negative Sentiment: A law firm announced an investigation into possible securities-law violations following IBM’s substantial recent decline. The announcement does not establish wrongdoing, but it adds headline and litigation risk while potentially undermining investor confidence. IBM Investor Reminder: Securities Fraud Investigation
• Negative Sentiment: Recent earnings showed revenue below analyst expectations even though EPS matched consensus, while commentary comparing IBM with Accenture questioned IBM’s relative dividend and financial appeal. With the stock below its 50-day and 200-day moving averages, investors may be demanding clearer near-term growth before assigning more value to the quantum opportunity. IBM vs. Accenture: The Better Dividend Stock May Surprise You

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.