International Business Machines Corporation $IBM Shares Sold by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. cut its stake in International Business Machines Corporation (NYSE:IBM) by 62.2% in the first quarter, Holdings Channel.com reports. The fund owned 4,642 shares of the technology company’s stock after selling 7,647 shares during the quarter. Legacy Capital Group California Inc.’s holdings in International Business Machines were worth $1,125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in International Business Machines by 424.6% during the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 260,740 shares of the technology company’s stock worth $77,234,000 after purchasing an additional 211,040 shares in the last quarter. GLOBALT Investments LLC GA lifted its stake in shares of International Business Machines by 19.1% in the 4th quarter. GLOBALT Investments LLC GA now owns 18,288 shares of the technology company’s stock valued at $5,417,000 after purchasing an additional 2,930 shares in the last quarter. Newbridge Financial Services Group Inc. grew its stake in International Business Machines by 30.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 13,122 shares of the technology company’s stock worth $3,887,000 after buying an additional 3,029 shares during the period. Rice Partnership LLC purchased a new position in International Business Machines in the fourth quarter valued at about $3,317,000. Finally, Sage Investment Advisers LLC purchased a new stake in shares of International Business Machines during the 4th quarter valued at about $4,101,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Performance

NYSE IBM opened at $290.46 on Tuesday. International Business Machines Corporation has a 52-week low of $212.34 and a 52-week high of $332.46. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.80 and a quick ratio of 0.76. The firm has a market capitalization of $273.00 billion, a price-to-earnings ratio of 25.68, a P/E/G ratio of 2.78 and a beta of 0.68. The company’s fifty day moving average is $264.95 and its two-hundred day moving average is $265.82.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.10. The business had revenue of $15.92 billion for the quarter, compared to analysts’ expectations of $15.60 billion. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.60 earnings per share. Equities research analysts forecast that International Business Machines Corporation will post 12.45 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th were paid a $1.69 dividend. This is a boost from International Business Machines’s previous quarterly dividend of $1.68. The ex-dividend date of this dividend was Friday, May 8th. This represents a $6.76 annualized dividend and a dividend yield of 2.3%. International Business Machines’s payout ratio is 59.77%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. BMO Capital Markets dropped their price objective on International Business Machines from $290.00 to $270.00 and set a “market perform” rating on the stock in a report on Thursday, April 23rd. Weiss Ratings cut International Business Machines from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, June 24th. Citigroup lifted their target price on International Business Machines from $285.00 to $375.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Needham & Company LLC started coverage on International Business Machines in a research report on Wednesday, June 3rd. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. upgraded shares of International Business Machines from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $270.00 to $291.00 in a report on Tuesday, June 23rd. Sixteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, International Business Machines currently has an average rating of “Moderate Buy” and a consensus price target of $306.28.

Trending Headlines about International Business Machines

Here are the key news stories impacting International Business Machines this week:

• Positive Sentiment: Jim Cramer called IBM inexpensive, praised CEO Arvind Krishna’s execution, and suggested buying the stock, reinforcing the bullish view that the company is undervalued. Jim Cramer on IBM: “It’s Inexpensive and Arvind Krishna’s Doing a Fantastic Job”
• Positive Sentiment: IBM unveiled major updates to its Bob AI platform, which could improve its competitive position in enterprise AI and support the stock’s growth narrative. IBM Just Unveiled Major Updates to Its Bob AI Platform. How to Play IBM Stock Here.
• Positive Sentiment: Market commentary on IBM’s quantum efforts and its presence in a Capitol Hill quantum tech showcase kept attention on the company’s long-term technology upside. Quantum Tech on Capitol Hill: Nvidia, IBM and More Stocks to Watch
• Positive Sentiment: Analysts and media reports framed IBM as a potential dividend-and-growth name, suggesting investors still see defensive appeal alongside capital appreciation potential. 3 Dividend Stocks with Growth on Tap for the Second Half
• Neutral Sentiment: Several articles debated IBM’s place in the AI trade and whether it can remain steady through an AI “reset,” but these pieces were more about positioning than a clear new catalyst. Can IBM (NYSE:IBM) Stay Steady Through the AI Reset?
• Neutral Sentiment: A comparison article argued HubSpot has the edge over IBM on faster growth and valuation, which is a mild reminder that IBM still faces competition for AI investor dollars. HubSpot vs. IBM: Which AI Software Stock is a Better Buy Now?

International Business Machines Company Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.