Perigon Wealth Management LLC Sells 336 Shares of International Business Machines Corporation $IBM

Perigon Wealth Management LLC trimmed its position in shares of International Business Machines Corporation (NYSE:IBM) by 1.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,715 shares of the technology company’s stock after selling 336 shares during the quarter. Perigon Wealth Management LLC’s holdings in International Business Machines were worth $6,401,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Plancorp LLC raised its stake in International Business Machines by 5.2% during the 2nd quarter. Plancorp LLC now owns 7,283 shares of the technology company’s stock worth $2,147,000 after buying an additional 357 shares during the period. Motive Wealth Advisors increased its holdings in shares of International Business Machines by 4.2% in the second quarter. Motive Wealth Advisors now owns 1,479 shares of the technology company’s stock worth $436,000 after acquiring an additional 60 shares in the last quarter. Moneywise Inc. acquired a new stake in shares of International Business Machines during the second quarter worth about $203,000. Castleview Partners LLC lifted its holdings in shares of International Business Machines by 5.1% during the 2nd quarter. Castleview Partners LLC now owns 1,337 shares of the technology company’s stock valued at $394,000 after purchasing an additional 65 shares in the last quarter. Finally, LeConte Wealth Management LLC lifted its holdings in shares of International Business Machines by 45.9% during the 2nd quarter. LeConte Wealth Management LLC now owns 1,710 shares of the technology company’s stock valued at $504,000 after purchasing an additional 538 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE IBM opened at $281.76 on Friday. International Business Machines Corporation has a fifty-two week low of $203.51 and a fifty-two week high of $296.16. The stock has a market capitalization of $261.86 billion, a price-to-earnings ratio of 45.74, a PEG ratio of 4.12 and a beta of 0.71. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87. The business has a 50-day moving average of $254.09 and a 200-day moving average of $257.72.

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. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.The company had revenue of $16.98 billion during the quarter, compared to the consensus estimate of $16.58 billion. During the same quarter in the prior year, the firm posted $2.43 EPS. The firm’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. As a group, sell-side analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were issued a dividend of $1.68 per share. The ex-dividend date was Friday, August 8th. This represents a $6.72 dividend on an annualized basis and a yield of 2.4%. International Business Machines’s dividend payout ratio (DPR) is presently 109.09%.

Analysts Set New Price Targets

IBM has been the subject of a number of research reports. Sanford C. Bernstein assumed coverage on International Business Machines in a research note on Monday, September 15th. They set a “market perform” rating and a $280.00 target price for the company. Wall Street Zen upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. UBS Group raised their price objective on shares of International Business Machines from $195.00 to $200.00 and gave the stock a “sell” rating in a report on Thursday, July 24th. Bank of America cut 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, The Goldman Sachs Group increased their target price on International Business Machines from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and a consensus target price of $275.00.

International Business Machines Company 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.