Sanctuary Advisors LLC Decreases Position in International Business Machines Corporation $IBM

Sanctuary Advisors LLC trimmed its stake in International Business Machines Corporation (NYSE:IBM) by 1.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 264,484 shares of the technology company’s stock after selling 4,251 shares during the period. Sanctuary Advisors LLC’s holdings in International Business Machines were worth $64,108,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Basepoint Wealth LLC bought a new stake in International Business Machines in the fourth quarter worth $25,000. Family CFO Inc purchased a new stake in International Business Machines in the 4th quarter worth about $25,000. Joseph Group Capital Management purchased a new stake in shares of International Business Machines in the fourth quarter worth approximately $28,000. Cornerstone Financial Management LLC purchased a new stake in International Business Machines in the fourth quarter worth $28,000. Finally, SWAN Capital LLC bought a new stake in International Business Machines during the 3rd quarter valued at about $28,000. Institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

IBM has been the topic of several research analyst reports. Roth Capital reissued a “buy” rating on shares of International Business Machines in a research note on Wednesday, June 3rd. Piper Sandler raised International Business Machines to an “overweight” rating in a research report on Tuesday, June 23rd. JPMorgan Chase & Co. upgraded International Business Machines from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $270.00 to $291.00 in a report on Tuesday, June 23rd. KeyCorp lowered International Business Machines to a “sector weight” rating in a research note on Tuesday, June 23rd. Finally, HSBC downgraded International Business Machines from a “hold” rating to a “reduce” rating and decreased their price objective for the company from $231.00 to $191.00 in a report on Tuesday. Fourteen analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, International Business Machines has a consensus rating of “Moderate Buy” and an average target price of $307.17.

International Business Machines Trading Down 25.4%

Shares of NYSE:IBM opened at $216.59 on Wednesday. The company has a market capitalization of $203.57 billion, a PE ratio of 19.15, a P/E/G ratio of 2.80 and a beta of 0.68. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75. International Business Machines Corporation has a 12-month low of $212.34 and a 12-month high of $332.46. The business’s fifty day simple moving average is $264.70 and its 200-day simple moving average is $265.20.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, April 22nd. The technology company reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.10. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The company had revenue of $15.92 billion for the quarter, compared to the consensus estimate of $15.60 billion. During the same quarter last year, the company earned $1.60 earnings per share. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. As a group, equities research analysts predict that International Business Machines Corporation will post 12.45 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th were given a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Friday, May 8th. This is an increase from International Business Machines’s previous quarterly dividend of $1.68. International Business Machines’s payout ratio is presently 59.77%.

International Business Machines News Roundup

Here are the key news stories impacting International Business Machines this week:

• Negative Sentiment: IBM reported preliminary Q2 revenue of about $17.2 billion and adjusted EPS of $2.93, both below estimates, raising concerns about near-term growth and execution. Reuters: IBM expects second-quarter revenue below estimates
• Negative Sentiment: CEO Arvind Krishna said the company “faltered,” citing delayed deal closures and customers shifting budgets toward AI infrastructure and memory chips, which hurt software and infrastructure sales. CNBC: IBM warns second-quarter earnings fell short of expectations
• Negative Sentiment: The warning is dragging other software and IT services names lower, reinforcing fears that enterprise spending is moving away from traditional software vendors and toward AI hardware/cybersecurity. Investor’s Business Daily: Stock Market Jumps As Inflation Eases; IBM Warns

International Business Machines Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.