Conning Inc. Has $1.53 Million Holdings in International Business Machines Corporation $IBM

Conning Inc. cut its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 3.2% in the second quarter, Holdings Channel reports. The institutional investor owned 5,173 shares of the technology company’s stock after selling 170 shares during the quarter. Conning Inc.’s holdings in International Business Machines were worth $1,525,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of IBM. Lifestyle Asset Management Inc. raised its stake in shares of International Business Machines by 1.7% in the second quarter. Lifestyle Asset Management Inc. now owns 2,144 shares of the technology company’s stock valued at $632,000 after purchasing an additional 36 shares in the last quarter. Whelan Financial raised its stake 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 purchasing an additional 36 shares in the last quarter. Ignite Planners LLC raised its stake in shares of International Business Machines by 0.9% in the second quarter. Ignite Planners LLC now owns 3,964 shares of the technology company’s stock valued at $1,133,000 after purchasing an additional 36 shares in the last quarter. Blue Edge Capital LLC raised its stake in shares of International Business Machines by 0.6% in the first quarter. Blue Edge Capital LLC now owns 6,776 shares of the technology company’s stock valued at $1,685,000 after purchasing an additional 39 shares in the last quarter. Finally, Johnson Bixby & Associates LLC raised its stake in shares of International Business Machines by 3.3% in the second quarter. Johnson Bixby & Associates LLC now owns 1,208 shares of the technology company’s stock valued at $356,000 after purchasing an additional 39 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Bank of America cut their target price on International Business Machines from $320.00 to $310.00 and set a “buy” rating for the company in a research note on Thursday, July 24th. Wall Street Zen upgraded International Business Machines from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Sanford C. Bernstein initiated coverage on International Business Machines in a research note on Monday, September 15th. They set a “market perform” rating and a $280.00 price objective for the company. Wedbush increased their price objective on International Business Machines from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, June 20th. Finally, The Goldman Sachs Group increased their price objective on International Business Machines from $270.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and an average price target of $284.62.

International Business Machines Price Performance

Shares of IBM stock opened at $278.09 on Friday. The stock’s fifty day moving average is $258.19 and its 200-day moving average is $260.60. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. The stock has a market capitalization of $258.45 billion, a PE ratio of 45.14, a PEG ratio of 4.44 and a beta of 0.73. International Business Machines Corporation has a 52 week low of $203.51 and a 52 week high of $301.04.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.65 by $0.15. The company had revenue of $16.98 billion for the quarter, compared to analysts’ expectations of $16.58 billion. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.43 earnings per share. International Business Machines has set its FY 2025 guidance at EPS. Equities research analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were issued a $1.68 dividend. The ex-dividend date was Friday, August 8th. This represents a $6.72 annualized dividend and a yield of 2.4%. International Business Machines’s dividend payout ratio (DPR) is currently 109.09%.

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.