Summit Investment Advisors Inc. Trims Stock Position in International Business Machines Corporation $IBM

Summit Investment Advisors Inc. reduced its stake in International Business Machines Corporation (NYSE:IBM) by 12.5% during the 1st quarter, HoldingsChannel reports. The firm owned 31,788 shares of the technology company’s stock after selling 4,523 shares during the period. Summit Investment Advisors Inc.’s holdings in International Business Machines were worth $7,904,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Paradigm Asset Management Co. LLC grew its position in International Business Machines by 766.7% in the 2nd quarter. Paradigm Asset Management Co. LLC now owns 5,200 shares of the technology company’s stock valued at $1,533,000 after buying an additional 4,600 shares during the last quarter. Metis Global Partners LLC lifted its position in International Business Machines by 1.8% in the second quarter. Metis Global Partners LLC now owns 71,591 shares of the technology company’s stock valued at $21,104,000 after purchasing an additional 1,243 shares during the period. Legacy Wealth Managment LLC ID boosted its holdings in International Business Machines by 48.5% in the 2nd quarter. Legacy Wealth Managment LLC ID now owns 147 shares of the technology company’s stock valued at $43,000 after purchasing an additional 48 shares in the last quarter. Summit Wealth & Retirement Planning Inc. acquired a new position in International Business Machines during the 2nd quarter worth approximately $208,000. Finally, KCM Investment Advisors LLC raised its stake in shares of International Business Machines by 7.6% during the 2nd quarter. KCM Investment Advisors LLC now owns 9,906 shares of the technology company’s stock worth $2,920,000 after buying an additional 701 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on IBM. Morgan Stanley decreased their price target on International Business Machines from $256.00 to $252.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 23rd. Erste Group Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Thursday, August 14th. Wall Street Zen upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Sunday, October 26th. Royal Bank Of Canada reduced their price objective on shares of International Business Machines from $315.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, October 23rd. Finally, UBS Group upped their target price on shares of International Business Machines from $200.00 to $210.00 and gave the stock a “sell” rating in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $288.00.

International Business Machines Trading Down 1.9%

Shares of IBM stock opened at $306.64 on Friday. International Business Machines Corporation has a 1-year low of $204.07 and a 1-year high of $319.35. The firm has a market cap of $286.63 billion, a P/E ratio of 36.68, a PEG ratio of 4.33 and a beta of 0.71. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.93 and a quick ratio of 0.89. The firm’s 50-day simple moving average is $279.45 and its 200-day simple moving average is $268.83.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, October 22nd. The technology company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.45 by $0.20. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.The company had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.10 billion. During the same period in the prior year, the firm posted $2.30 earnings per share. The firm’s revenue was up 9.1% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Monday, November 10th will be paid a dividend of $1.68 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $6.72 annualized dividend and a yield of 2.2%. International Business Machines’s payout ratio is 80.38%.

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.