Naviter Wealth LLC Lowers Position in International Business Machines Corporation $IBM

Naviter Wealth LLC lessened its stake in International Business Machines Corporation (NYSE:IBM) by 8.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 9,739 shares of the technology company’s stock after selling 859 shares during the quarter. Naviter Wealth LLC’s holdings in International Business Machines were worth $2,871,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC raised its stake in International Business Machines by 12.4% during the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock valued at $4,619,000 after purchasing an additional 2,323 shares in the last quarter. GAMMA Investing LLC raised its stake in International Business Machines by 19.3% during the first quarter. GAMMA Investing LLC now owns 17,694 shares of the technology company’s stock valued at $4,400,000 after purchasing an additional 2,862 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in International Business Machines by 27.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,158,366 shares of the technology company’s stock valued at $288,039,000 after purchasing an additional 250,283 shares in the last quarter. Dohj LLC purchased a new stake in International Business Machines during the first quarter valued at $225,000. Finally, Ritholtz Wealth Management raised its stake in International Business Machines by 20.1% during the first quarter. Ritholtz Wealth Management now owns 14,115 shares of the technology company’s stock valued at $3,510,000 after purchasing an additional 2,362 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on IBM. BMO Capital Markets upped their price target on shares of International Business Machines from $260.00 to $300.00 and gave the company a “market perform” rating in a research note on Friday, July 18th. 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. The Goldman Sachs Group upped their price target on shares of International Business Machines from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. Sanford C. Bernstein began coverage on shares of International Business Machines in a research note on Monday, September 15th. They issued a “market perform” rating and a $280.00 target price on the stock. Finally, Bank of America reduced their target price on shares of International Business Machines from $320.00 to $310.00 and set a “buy” rating on the stock in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and a consensus price target of $284.62.

International Business Machines Trading Down 0.2%

Shares of IBM opened at $277.21 on Tuesday. International Business Machines Corporation has a twelve month low of $203.51 and a twelve month high of $301.04. The company has a market cap of $257.64 billion, a P/E ratio of 45.00, a P/E/G ratio of 4.28 and a beta of 0.73. 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 company’s fifty day simple moving average is $258.69 and its 200-day simple moving average is $261.01.

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, topping the consensus estimate of $2.65 by $0.15. The company had revenue of $16.98 billion for the quarter, compared to the consensus estimate of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.43 EPS. International Business Machines has set its FY 2025 guidance at EPS. As a group, analysts expect that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

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

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.