Garner Asset Management Corp Sells 1,608 Shares of International Business Machines Corporation $IBM

Garner Asset Management Corp reduced its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 13.8% in the second quarter, Holdings Channel.com reports. The fund owned 10,031 shares of the technology company’s stock after selling 1,608 shares during the quarter. International Business Machines comprises about 1.4% of Garner Asset Management Corp’s portfolio, making the stock its 20th largest holding. Garner Asset Management Corp’s holdings in International Business Machines were worth $2,957,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the stock. Brooklyn Investment Group lifted its position in shares of International Business Machines by 32.7% in the 1st quarter. Brooklyn Investment Group now owns 6,622 shares of the technology company’s stock worth $1,647,000 after purchasing an additional 1,630 shares during the period. Vise Technologies Inc. purchased a new stake in shares of International Business Machines during the 2nd quarter valued at $16,565,000. Edgar Lomax Co. VA boosted its holdings in International Business Machines by 5.7% in the first quarter. Edgar Lomax Co. VA now owns 235,967 shares of the technology company’s stock worth $58,676,000 after acquiring an additional 12,690 shares in the last quarter. Vanguard Group Inc. boosted its stake in International Business Machines by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 95,051,475 shares of the technology company’s stock worth $28,019,274,000 after purchasing an additional 1,913,708 shares in the last quarter. Finally, Thames Capital Management LLC acquired a new stake in shares of International Business Machines during the second quarter worth $2,710,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Weiss Ratings raised International Business Machines from a “hold (c+)” rating to a “buy (b)” rating in a report on Saturday, October 25th. Bank of America raised their target price on International Business Machines from $310.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Sanford C. Bernstein began coverage on International Business Machines in a research report on Monday, September 15th. They set a “market perform” rating and a $280.00 price target for the company. BMO Capital Markets upped their price objective on International Business Machines from $300.00 to $305.00 and gave the stock a “market perform” rating in a research report on Thursday, October 23rd. Finally, Oppenheimer assumed coverage on shares of International Business Machines in a research note on Friday, November 21st. They set an “outperform” rating and a $360.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $291.08.

International Business Machines Stock Performance

Shares of IBM stock opened at $303.66 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 1.97. International Business Machines Corporation has a 12-month low of $214.50 and a 12-month high of $324.90. The business’s 50 day moving average is $292.35 and its two-hundred day moving average is $274.33. The company has a market capitalization of $283.84 billion, a P/E ratio of 36.32, a P/E/G ratio of 4.33 and a beta of 0.71.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, October 22nd. The technology company reported $2.65 earnings per share 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 business had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.10 billion. During the same period in the prior year, the company posted $2.30 EPS. The business’s quarterly revenue was up 9.1% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. Analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th will be issued a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Monday, November 10th. International Business Machines’s dividend payout ratio (DPR) is presently 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.