Red Spruce Capital LLC Sells 356 Shares of International Business Machines Corporation $IBM

Red Spruce Capital LLC decreased its position in shares of International Business Machines Corporation (NYSE:IBM) by 4.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,774 shares of the technology company’s stock after selling 356 shares during the period. Red Spruce Capital LLC’s holdings in International Business Machines were worth $2,292,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in 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 during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in International Business Machines by 6.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,636,725 shares of the technology company’s stock worth $2,147,608,000 after acquiring an additional 524,633 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in International Business Machines by 9.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,112,092 shares of the technology company’s stock worth $1,783,281,000 after acquiring an additional 722,582 shares during the period. Ameriprise Financial Inc. raised its position in shares of International Business Machines by 1.0% during the first quarter. Ameriprise Financial Inc. now owns 5,516,240 shares of the technology company’s stock valued at $1,371,812,000 after buying an additional 52,317 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of International Business Machines by 20.8% during the first quarter. Goldman Sachs Group Inc. now owns 5,157,846 shares of the technology company’s stock valued at $1,282,550,000 after buying an additional 889,008 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Down 1.4%

IBM stock opened at $253.46 on Monday. The firm has a fifty day moving average price of $257.59 and a 200 day moving average price of $256.96. International Business Machines Corporation has a fifty-two week low of $203.51 and a fifty-two week high of $296.16. 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 firm has a market cap of $235.57 billion, a PE ratio of 41.15, a price-to-earnings-growth ratio of 3.90 and a beta of 0.71.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.65 by $0.15. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The firm had revenue of $16.98 billion during the quarter, compared to analyst estimates of $16.58 billion. During the same period last year, the firm posted $2.43 earnings per share. International Business Machines’s revenue for the quarter was up 7.7% compared to the same quarter last year. International Business Machines has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced 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 of this dividend was Friday, August 8th. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.7%. International Business Machines’s dividend payout ratio (DPR) is 109.09%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Melius Research upgraded shares of International Business Machines to a “strong-buy” rating in a research report on Monday, July 7th. BMO Capital Markets lifted their price objective on shares of International Business Machines from $260.00 to $300.00 and gave the company a “market perform” rating in a research report on Friday, July 18th. Wedbush lifted their price objective on shares of International Business Machines from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, June 20th. Bank of America reduced their price objective on shares of International Business Machines from $320.00 to $310.00 and set a “buy” rating on the stock in a research report on Thursday, July 24th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of International Business Machines from $244.00 to $290.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, International Business Machines has a consensus rating of “Hold” and an average price target of $270.67.

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.