International Business Machines Corporation $IBM Holdings Cut by Cidel Asset Management Inc.

Cidel Asset Management Inc. decreased its position in shares of International Business Machines Corporation (NYSE:IBM) by 5.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,018 shares of the technology company’s stock after selling 437 shares during the period. Cidel Asset Management Inc.’s holdings in International Business Machines were worth $2,364,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in International Business Machines by 12.4% in the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock valued at $4,619,000 after acquiring an additional 2,323 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of International Business Machines by 19.3% during the 1st quarter. GAMMA Investing LLC now owns 17,694 shares of the technology company’s stock worth $4,400,000 after purchasing an additional 2,862 shares during the last quarter. Jamison Private Wealth Management Inc. raised its holdings in shares of International Business Machines by 4.3% during the 1st quarter. Jamison Private Wealth Management Inc. now owns 1,739 shares of the technology company’s stock valued at $432,000 after purchasing an additional 72 shares in the last quarter. Denver Wealth Management Inc. acquired a new stake in shares of International Business Machines in the 1st quarter valued at $225,000. Finally, Perfromance Wealth Partners LLC boosted its holdings in International Business Machines by 2.9% in the first quarter. Perfromance Wealth Partners LLC now owns 9,798 shares of the technology company’s stock worth $2,436,000 after purchasing an additional 273 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on IBM. Melius Research raised International Business Machines to a “strong-buy” rating in a research report on Monday, July 7th. JPMorgan Chase & Co. boosted their target price on International Business Machines from $244.00 to $290.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. BMO Capital Markets increased their price target on International Business Machines from $260.00 to $300.00 and gave the company a “market perform” rating in a report on Friday, July 18th. 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. Finally, UBS Group upped their price objective on shares of International Business Machines from $195.00 to $200.00 and gave the stock a “sell” rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and an average target price of $286.38.

International Business Machines Stock Up 1.8%

Shares of IBM stock opened at $280.95 on Friday. International Business Machines Corporation has a 12 month low of $203.51 and a 12 month high of $301.04. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. The firm has a market cap of $261.12 billion, a PE ratio of 45.61, a price-to-earnings-growth ratio of 4.33 and a beta of 0.73. The stock has a 50 day moving average of $261.07 and a 200-day moving average of $261.73.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.15. The business had revenue of $16.98 billion for the quarter, compared to analyst estimates of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. International Business Machines’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.43 earnings per share. International Business Machines has set its FY 2025 guidance at EPS. On average, equities analysts predict that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were given a dividend of $1.68 per share. The ex-dividend date of this dividend 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%.

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.