Scotia Capital Inc. Decreases Stake in International Business Machines Corporation $IBM

Scotia Capital Inc. lessened its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 0.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 82,673 shares of the technology company’s stock after selling 571 shares during the quarter. Scotia Capital Inc.’s holdings in International Business Machines were worth $24,370,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. GQG Partners LLC acquired a new position in International Business Machines in the first quarter worth about $1,040,057,000. Nuveen LLC bought a new position in International Business Machines during the 1st quarter worth $960,386,000. Vanguard Group Inc. lifted its position in International Business Machines by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 95,051,475 shares of the technology company’s stock valued at $28,019,274,000 after purchasing an additional 1,913,708 shares during the last quarter. Laurel Wealth Advisors LLC increased its stake in shares of International Business Machines by 27,928.2% in the second quarter. Laurel Wealth Advisors LLC now owns 1,903,116 shares of the technology company’s stock valued at $561,001,000 after purchasing an additional 1,896,326 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in 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 valued at $787,007,000 after acquiring an additional 930,448 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Price Performance

Shares of International Business Machines stock opened at $303.66 on Friday. The stock has a market capitalization of $283.84 billion, a price-to-earnings ratio of 36.32, a PEG ratio of 4.33 and a beta of 0.71. The firm has a fifty day simple moving average of $293.12 and a 200-day simple moving average of $274.54. International Business Machines Corporation has a 1-year low of $214.50 and a 1-year high of $324.90. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 1.97.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 22nd. The technology company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.20. The business had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.10 billion. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.30 earnings per share. International Business Machines has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th will be issued a dividend of $1.68 per share. The ex-dividend date is Monday, November 10th. This represents a $6.72 annualized dividend and a dividend yield of 2.2%. International Business Machines’s payout ratio is presently 80.38%.

Analyst Ratings Changes

IBM has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Sunday, October 26th. BMO Capital Markets increased their price target on International Business Machines from $300.00 to $305.00 and gave the company a “market perform” rating in a research report on Thursday, October 23rd. Royal Bank Of Canada lowered their price objective on shares of International Business Machines from $315.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday, October 23rd. Stifel Nicolaus dropped their target price on International Business Machines from $310.00 to $295.00 and set a “buy” rating on the stock in a report on Thursday, October 23rd. Finally, Sanford C. Bernstein initiated coverage on International Business Machines in a report on Monday, September 15th. They set a “market perform” rating and a $280.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $291.08.

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.