Parsons Capital Management Inc. RI Sells 1,118 Shares of International Business Machines Corporation $IBM

Parsons Capital Management Inc. RI lowered its holdings in International Business Machines Corporation (NYSE:IBM) by 1.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 103,721 shares of the technology company’s stock after selling 1,118 shares during the quarter. International Business Machines accounts for about 1.9% of Parsons Capital Management Inc. RI’s holdings, making the stock its 7th biggest position. Parsons Capital Management Inc. RI’s holdings in International Business Machines were worth $30,575,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of IBM. Vanguard Group Inc. increased its holdings 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 purchasing an additional 1,298,515 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of International Business Machines by 6.5% during the first 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 valued at $2,147,608,000 after buying an additional 524,633 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in 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 worth $1,371,812,000 after buying an additional 52,317 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in 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 worth $1,282,550,000 after buying an additional 889,008 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in International Business Machines by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,108,455 shares of the technology company’s stock valued at $1,270,022,000 after buying an additional 24,790 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analysts Set New Price Targets

IBM has been the subject of several recent analyst reports. Bank of America reduced their target price on shares of International Business Machines from $320.00 to $310.00 and set a “buy” rating for the company in a research note on Thursday, July 24th. The Goldman Sachs Group increased their price objective on shares of International Business Machines from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. Wall Street Zen upgraded International Business Machines from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Sanford C. Bernstein assumed coverage on International Business Machines in a report on Monday, September 15th. They issued a “market perform” rating and a $280.00 target price for the company. Finally, Erste Group Bank cut International Business Machines from a “buy” rating to a “hold” rating in a research report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, International Business Machines presently has an average rating of “Hold” and an average price target of $279.29.

International Business Machines Trading Up 1.5%

Shares of IBM stock opened at $286.46 on Thursday. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. The firm has a market cap of $266.23 billion, a P/E ratio of 46.50, a PEG ratio of 4.34 and a beta of 0.73. The company has a 50 day moving average of $254.07 and a 200-day moving average of $258.70. International Business Machines Corporation has a 12-month low of $203.51 and a 12-month high of $296.16.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data 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. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.The business had revenue of $16.98 billion during the quarter, compared to analyst estimates of $16.58 billion. During the same period in the prior year, the company earned $2.43 earnings per share. International Business Machines’s revenue 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 year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were paid a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Friday, August 8th. International Business Machines’s payout ratio is currently 109.09%.

About International Business Machines

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.