Estabrook Capital Management Has $20.72 Million Stock Position in International Business Machines Corporation $IBM

Estabrook Capital Management reduced its position in International Business Machines Corporation (NYSE:IBM) by 1.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,277 shares of the technology company’s stock after selling 926 shares during the period. International Business Machines makes up 3.2% of Estabrook Capital Management’s investment portfolio, making the stock its 5th largest holding. Estabrook Capital Management’s holdings in International Business Machines were worth $20,716,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of IBM. Bernardo Wealth Planning LLC lifted its stake in shares of International Business Machines by 3.7% in the second quarter. Bernardo Wealth Planning LLC now owns 1,273 shares of the technology company’s stock valued at $375,000 after buying an additional 46 shares in the last quarter. Millington Financial Advisors LLC acquired a new stake in shares of International Business Machines in the 2nd quarter worth about $202,000. First National Advisers LLC boosted its stake in International Business Machines by 7.9% during the 2nd quarter. First National Advisers LLC now owns 970 shares of the technology company’s stock valued at $286,000 after purchasing an additional 71 shares during the last quarter. Independent Family Office LLC bought a new stake in International Business Machines during the 2nd quarter worth approximately $271,000. Finally, West Family Investments Inc. increased its holdings in International Business Machines by 39.0% during the 2nd quarter. West Family Investments Inc. now owns 5,183 shares of the technology company’s stock worth $1,528,000 after purchasing an additional 1,455 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

NYSE IBM opened at $308.68 on Friday. The company has a market capitalization of $288.53 billion, a PE ratio of 36.92, a price-to-earnings-growth ratio of 4.33 and a beta of 0.71. 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 $214.50 and a 52-week high of $324.90. The company has a 50-day simple moving average of $293.95 and a 200 day simple moving average of $275.03.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 22nd. The technology company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $16.33 billion for the quarter, compared to analysts’ expectations of $16.10 billion. During the same period in the previous year, the company earned $2.30 earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. On average, research analysts predict that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th will be given a $1.68 dividend. This represents a $6.72 dividend on an annualized basis 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 currently 80.38%.

Wall Street Analyst Weigh In

IBM has been the topic of several analyst reports. Jefferies Financial Group lifted their target price on International Business Machines from $280.00 to $305.00 and gave the company a “hold” rating in a research report on Tuesday, October 21st. BMO Capital Markets lifted their price objective on shares of International Business Machines from $300.00 to $305.00 and gave the stock a “market perform” rating in a report on Thursday, October 23rd. Sanford C. Bernstein started coverage on shares of International Business Machines in a report on Monday, September 15th. They issued a “market perform” rating and a $280.00 target price for the company. Royal Bank Of Canada cut their price target on shares of International Business Machines from $315.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday, October 23rd. Finally, Bank of America increased their price objective on shares of International Business Machines from $310.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $291.08.

International Business Machines Company 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.