Penbrook Management LLC Reduces Position in International Business Machines Corporation $IBM

Penbrook Management LLC cut its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 34.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,662 shares of the technology company’s stock after selling 863 shares during the quarter. Penbrook Management LLC’s holdings in International Business Machines were worth $490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Family CFO Inc purchased a new stake in shares of International Business Machines during the second quarter valued at $25,000. Christopher J. Hasenberg Inc bought a new position in International Business Machines in the first quarter valued at about $27,000. SSA Swiss Advisors AG bought a new position in International Business Machines in the first quarter valued at about $28,000. Highline Wealth Partners LLC lifted its holdings in International Business Machines by 85.0% in the second quarter. Highline Wealth Partners LLC now owns 111 shares of the technology company’s stock valued at $33,000 after acquiring an additional 51 shares during the period. Finally, Dagco Inc. bought a new position in International Business Machines in the first quarter valued at about $31,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on IBM. Melius Research raised International Business Machines to a “strong-buy” rating in a report on Monday, July 7th. JPMorgan Chase & Co. increased their target price on International Business Machines from $244.00 to $290.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. UBS Group increased their target price on International Business Machines from $195.00 to $200.00 and gave the company a “sell” rating in a report on Thursday, July 24th. Royal Bank Of Canada raised their price objective on International Business Machines from $285.00 to $315.00 and gave the stock an “outperform” rating in a research note on Thursday, July 17th. Finally, Stifel Nicolaus raised their price objective on International Business Machines from $290.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. One investment 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $284.62.

International Business Machines Stock Performance

NYSE IBM opened at $277.21 on Tuesday. The stock has a market capitalization of $257.64 billion, a PE ratio of 45.00, a P/E/G ratio of 4.28 and a beta of 0.73. The business has a 50 day simple moving average of $258.69 and a two-hundred day simple moving average of $261.01. 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 1-year low of $203.51 and a 1-year high of $301.04.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.15. The business had revenue of $16.98 billion during 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 firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.43 EPS. 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 fiscal year.

International Business Machines Announces Dividend

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