Convergence Financial LLC Sells 1,858 Shares of International Business Machines Corporation $IBM

Convergence Financial LLC trimmed its stake in International Business Machines Corporation (NYSE:IBM) by 52.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,692 shares of the technology company’s stock after selling 1,858 shares during the period. Convergence Financial LLC’s holdings in International Business Machines were worth $499,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Lifestyle Asset Management Inc. boosted its holdings in shares of International Business Machines by 1.7% in the 2nd quarter. Lifestyle Asset Management Inc. now owns 2,144 shares of the technology company’s stock worth $632,000 after acquiring an additional 36 shares in the last quarter. Whelan Financial raised its holdings in shares of International Business Machines by 2.4% in the second quarter. Whelan Financial now owns 1,525 shares of the technology company’s stock valued at $450,000 after buying an additional 36 shares during the last quarter. Ignite Planners LLC lifted its position in International Business Machines by 0.9% during the 2nd quarter. Ignite Planners LLC now owns 3,964 shares of the technology company’s stock worth $1,133,000 after buying an additional 36 shares in the last quarter. Blue Edge Capital LLC grew its holdings in International Business Machines by 0.6% during the 1st quarter. Blue Edge Capital LLC now owns 6,776 shares of the technology company’s stock worth $1,685,000 after acquiring an additional 39 shares during the last quarter. Finally, Johnson Bixby & Associates LLC increased its position in International Business Machines by 3.3% in the 2nd quarter. Johnson Bixby & Associates LLC now owns 1,208 shares of the technology company’s stock valued at $356,000 after acquiring an additional 39 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

NYSE IBM opened at $300.42 on Wednesday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.89 and a current ratio of 0.93. International Business Machines Corporation has a 52-week low of $204.07 and a 52-week high of $319.35. The business has a 50 day simple moving average of $275.62 and a 200 day simple moving average of $267.76. The stock has a market cap of $280.81 billion, a price-to-earnings ratio of 35.94, a PEG ratio of 4.33 and a beta of 0.73.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 22nd. The technology company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.20. International Business Machines had a net margin of 12.09% and a return on equity of 37.76%. The company had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.10 billion. During the same quarter in the prior year, the firm earned $2.30 earnings per share. The firm’s revenue was up 9.1% compared to the same quarter last year. International Business Machines has set its FY 2025 guidance at EPS. Analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th will be given 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%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on IBM shares. Morgan Stanley reduced their price objective on International Business Machines from $256.00 to $252.00 and set an “equal weight” rating on the stock in a report on Thursday, October 23rd. Royal Bank Of Canada decreased their price target on International Business Machines from $315.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday, October 23rd. Wall Street Zen raised International Business Machines from a “hold” rating to a “buy” rating in a report on Sunday, October 26th. Erste Group Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Thursday, August 14th. Finally, Stifel Nicolaus lowered their price target on shares of International Business Machines from $310.00 to $295.00 and set a “buy” rating for the company in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $288.00.

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.