International Business Machines Corporation $IBM Shares Sold by Citizens Business Bank

Citizens Business Bank lowered its stake in International Business Machines Corporation (NYSE:IBM) by 1.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,846 shares of the technology company’s stock after selling 47 shares during the quarter. Citizens Business Bank’s holdings in International Business Machines were worth $839,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in International Business Machines by 1.4% in the first quarter. Vanguard Group Inc. now owns 93,137,767 shares of the technology company’s stock worth $23,159,637,000 after purchasing an additional 1,298,515 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in International Business Machines by 6.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,636,725 shares of the technology company’s stock worth $2,147,608,000 after purchasing an additional 524,633 shares during the period. Ameriprise Financial Inc. lifted its holdings in International Business Machines by 1.0% in the first quarter. Ameriprise Financial Inc. now owns 5,516,240 shares of the technology company’s stock worth $1,371,812,000 after purchasing an additional 52,317 shares during the period. Goldman Sachs Group Inc. lifted its holdings in International Business Machines by 20.8% in the first quarter. Goldman Sachs Group Inc. now owns 5,157,846 shares of the technology company’s stock worth $1,282,550,000 after purchasing an additional 889,008 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in International Business Machines by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 5,108,455 shares of the technology company’s stock worth $1,270,022,000 after purchasing an additional 24,790 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IBM. Wedbush upped their price objective on shares of International Business Machines from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, June 20th. JPMorgan Chase & Co. boosted their price target on shares of International Business Machines from $244.00 to $290.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Stifel Nicolaus boosted their price target on shares of International Business Machines from $290.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. The Goldman Sachs Group boosted their price target on shares of International Business Machines from $270.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, July 2nd. Finally, Erste Group Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $286.38.

International Business Machines Trading Up 1.8%

International Business Machines stock opened at $280.95 on Friday. International Business Machines Corporation has a 52 week low of $203.51 and a 52 week high of $301.04. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. The firm has a market capitalization of $261.12 billion, a price-to-earnings ratio of 45.61, a P/E/G ratio of 4.24 and a beta of 0.73. The company has a 50 day moving average price of $261.07 and a 200 day moving average price of $261.65.

International Business Machines (NYSE:IBM) last issued its 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 business had revenue of $16.98 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the firm posted $2.43 earnings per share. International Business Machines has set its FY 2025 guidance at EPS. Research analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

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

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.