International Business Machines Corporation $IBM Shares Sold by Bar Harbor Wealth Management

Bar Harbor Wealth Management lessened its holdings in International Business Machines Corporation (NYSE:IBM) by 0.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,322 shares of the technology company’s stock after selling 696 shares during the quarter. International Business Machines makes up about 1.4% of Bar Harbor Wealth Management’s investment portfolio, making the stock its 17th largest holding. Bar Harbor Wealth Management’s holdings in International Business Machines were worth $21,909,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Lifestyle Asset Management Inc. boosted its position in International Business Machines by 1.7% during the second quarter. Lifestyle Asset Management Inc. now owns 2,144 shares of the technology company’s stock worth $632,000 after purchasing an additional 36 shares during the period. Whelan Financial boosted its position in International Business Machines by 2.4% during the second quarter. Whelan Financial now owns 1,525 shares of the technology company’s stock worth $450,000 after purchasing an additional 36 shares during the period. Ignite Planners LLC boosted its position in International Business Machines by 0.9% during the second quarter. Ignite Planners LLC now owns 3,964 shares of the technology company’s stock worth $1,133,000 after purchasing an additional 36 shares during the period. Blue Edge Capital LLC boosted its position in International Business Machines by 0.6% during the first quarter. Blue Edge Capital LLC now owns 6,776 shares of the technology company’s stock worth $1,685,000 after purchasing an additional 39 shares during the period. Finally, Johnson Bixby & Associates LLC boosted its position in International Business Machines by 3.3% during the second quarter. Johnson Bixby & Associates LLC now owns 1,208 shares of the technology company’s stock worth $356,000 after purchasing an additional 39 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of NYSE IBM opened at $289.31 on Thursday. The business has a fifty day simple moving average of $256.92 and a 200 day simple moving average of $260.14. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00. The firm has a market capitalization of $268.88 billion, a price-to-earnings ratio of 46.97, a PEG ratio of 4.52 and a beta of 0.73. International Business Machines Corporation has a one year low of $203.51 and a one year high of $301.04.

International Business Machines (NYSE:IBM) last issued its 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. The business had revenue of $16.98 billion during the quarter, compared to analyst estimates of $16.58 billion. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.International Business Machines’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.43 earnings per share. International Business Machines has set its FY 2025 guidance at EPS. Sell-side analysts expect that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were paid a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.3%. The ex-dividend date was Friday, August 8th. International Business Machines’s dividend payout ratio is currently 109.09%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on IBM. JPMorgan Chase & Co. upped their target price on International Business Machines from $244.00 to $290.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Bank of America reduced their price objective on International Business Machines from $320.00 to $310.00 and set a “buy” rating for the company in a research report on Thursday, July 24th. Weiss Ratings reissued a “hold (c+)” rating on shares of International Business Machines in a research report on Wednesday. Melius Research raised International Business Machines to a “strong-buy” rating in a research report on Monday, July 7th. Finally, Wall Street Zen raised International Business Machines from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, International Business Machines currently has an average rating of “Hold” and an average target price of $284.62.

About International Business Machines

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.