Legal Advantage Investments Inc. Sells 50 Shares of International Business Machines Corporation $IBM

Legal Advantage Investments Inc. lessened its position in shares of International Business Machines Corporation (NYSE:IBM) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,384 shares of the technology company’s stock after selling 50 shares during the quarter. Legal Advantage Investments Inc.’s holdings in International Business Machines were worth $998,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of IBM. GQG Partners LLC bought a new position in shares of International Business Machines during the 1st quarter worth approximately $1,040,057,000. Nuveen LLC bought a new position in shares of International Business Machines during the 1st quarter worth approximately $960,386,000. Vanguard Group Inc. raised its stake in shares of International Business Machines by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 93,137,767 shares of the technology company’s stock worth $23,159,637,000 after acquiring an additional 1,298,515 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of International Business Machines by 41.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,164,987 shares of the technology company’s stock worth $787,007,000 after acquiring an additional 930,448 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of International Business Machines by 20.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,157,846 shares of the technology company’s stock worth $1,282,550,000 after acquiring an additional 889,008 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

IBM has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Sanford C. Bernstein began coverage on shares of 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. BMO Capital Markets upped their price target on shares of International Business Machines from $260.00 to $300.00 and gave the company a “market perform” rating in a research note on Friday, July 18th. Bank of America cut their price target on shares of International Business Machines from $320.00 to $310.00 and set a “buy” rating on the stock in a research note on Thursday, July 24th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of International Business Machines in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $284.62.

International Business Machines Stock Down 3.5%

IBM stock opened at $278.09 on Friday. The firm’s fifty day simple moving average is $258.19 and its 200-day simple moving average is $260.68. The company has a market capitalization of $258.45 billion, a P/E ratio of 45.14, a price-to-earnings-growth ratio of 4.28 and a beta of 0.73. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87. International Business Machines Corporation has a 12 month low of $203.51 and a 12 month high of $301.04.

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

International Business Machines Announces Dividend

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

About International Business Machines

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.