Independence Bank of Kentucky Trims Stock Position in International Business Machines Corporation $IBM

Independence Bank of Kentucky lowered its position in shares of International Business Machines Corporation (NYSE:IBM) by 4.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,344 shares of the technology company’s stock after selling 200 shares during the period. Independence Bank of Kentucky’s holdings in International Business Machines were worth $1,281,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Moody Lynn & Lieberson LLC grew its stake in International Business Machines by 0.3% in the 2nd quarter. Moody Lynn & Lieberson LLC now owns 14,426 shares of the technology company’s stock worth $4,252,000 after buying an additional 45 shares in the last quarter. Wagner Wealth Management LLC grew its stake in International Business Machines by 2.1% in the 2nd quarter. Wagner Wealth Management LLC now owns 11,535 shares of the technology company’s stock worth $3,400,000 after buying an additional 235 shares in the last quarter. Grandview Asset Management LLC grew its stake in International Business Machines by 7.9% in the 2nd quarter. Grandview Asset Management LLC now owns 5,884 shares of the technology company’s stock worth $1,735,000 after buying an additional 429 shares in the last quarter. Patton Albertson Miller Group LLC grew its stake in International Business Machines by 4.7% in the 2nd quarter. Patton Albertson Miller Group LLC now owns 21,612 shares of the technology company’s stock worth $6,371,000 after buying an additional 965 shares in the last quarter. Finally, Tritonpoint Wealth LLC grew its stake in International Business Machines by 23.0% in the 2nd quarter. Tritonpoint Wealth LLC now owns 2,790 shares of the technology company’s stock worth $822,000 after buying an additional 521 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Up 1.2%

NYSE:IBM opened at $284.72 on Monday. The company has a fifty day moving average of $254.07 and a 200 day moving average of $258.11. International Business Machines Corporation has a 52 week low of $203.51 and a 52 week high of $296.16. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. The firm has a market capitalization of $264.62 billion, a P/E ratio of 46.22, a P/E/G ratio of 4.38 and a beta of 0.71.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $2.65 by $0.15. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The company had revenue of $16.98 billion during the quarter, compared to analyst estimates of $16.58 billion. During the same period in the prior year, the business posted $2.43 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. International Business Machines has set its FY 2025 guidance at EPS. On average, research analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Friday, August 8th. International Business Machines’s dividend payout ratio is currently 109.09%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Royal Bank Of Canada boosted their price target on shares of International Business Machines from $285.00 to $315.00 and gave the stock an “outperform” rating in a research note on Thursday, July 17th. Wall Street Zen raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Erste Group Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Thursday, August 14th. UBS Group upped their price objective on shares of International Business Machines from $195.00 to $200.00 and gave the company a “sell” rating in a research note on Thursday, July 24th. Finally, Stifel Nicolaus upped their price objective on shares of International Business Machines from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $275.00.

International Business Machines Company 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.