OneAscent Family Office LLC Buys Shares of 3,010 International Business Machines Corporation $IBM

OneAscent Family Office LLC bought a new stake in shares of International Business Machines Corporation (NYSE:IBM) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 3,010 shares of the technology company’s stock, valued at approximately $846,000.

A number of other hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in International Business Machines in the second quarter worth $21,586,659,000. State Street Corp increased its holdings in shares of International Business Machines by 1.0% during the fourth quarter. State Street Corp now owns 54,996,293 shares of the technology company’s stock valued at $16,290,452,000 after acquiring an additional 518,321 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of International Business Machines by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 22,605,083 shares of the technology company’s stock valued at $6,679,105,000 after acquiring an additional 336,069 shares in the last quarter. Capital World Investors raised its position in shares of International Business Machines by 29.2% in the 4th quarter. Capital World Investors now owns 22,021,912 shares of the technology company’s stock worth $6,523,720,000 after purchasing an additional 4,976,756 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in International Business Machines by 7.0% in the 1st quarter. Bank of America Corp DE now owns 16,063,653 shares of the technology company’s stock worth $3,893,669,000 after purchasing an additional 1,049,602 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $234.87 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.74 and a current ratio of 0.79. The firm has a market cap of $221.28 billion, a price-to-earnings ratio of 20.84, a price-to-earnings-growth ratio of 2.24 and a beta of 0.71. The business has a 50-day simple moving average of $241.67 and a two-hundred day simple moving average of $247.13. International Business Machines Corporation has a fifty-two week low of $199.19 and a fifty-two week high of $332.46.

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

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors 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 annualized dividend and a yield of 2.9%. International Business Machines’s dividend payout ratio (DPR) is currently 59.98%.

Insider Buying and Selling

In other International Business Machines news, SVP Robert Thomas sold 25,000 shares of International Business Machines stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $230.32, for a total value of $5,758,000.00. Following the completion of the sale, the senior vice president owned 47,800 shares of the company’s stock, valued at approximately $11,009,296. The trade was a 34.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

IBM has been the topic of several recent analyst reports. Morgan Stanley cut their price objective on shares of International Business Machines from $293.00 to $190.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 23rd. Piper Sandler raised shares of International Business Machines to an “overweight” rating in a report on Tuesday, June 23rd. Susquehanna upped their target price on shares of International Business Machines from $225.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, August 31st. Wedbush set a $350.00 price target on shares of International Business Machines in a report on Tuesday, June 2nd. Finally, The Goldman Sachs Group set a $270.00 price target on shares of International Business Machines in a research report on Thursday, July 23rd. Sixteen analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, International Business Machines has a consensus rating of “Moderate Buy” and an average price target of $265.90.

International Business Machines Profile

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.