Keudell Morrison Wealth Management Sells 245 Shares of International Business Machines Corporation $IBM

Keudell Morrison Wealth Management decreased its stake in International Business Machines Corporation (NYSE:IBM) by 4.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 4,949 shares of the technology company’s stock after selling 245 shares during the quarter. Keudell Morrison Wealth Management’s holdings in International Business Machines were worth $1,459,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Fortitude Advisory Group L.L.C. grew its position in International Business Machines by 14.7% during the 2nd quarter. Fortitude Advisory Group L.L.C. now owns 4,123 shares of the technology company’s stock worth $1,215,000 after acquiring an additional 528 shares during the last quarter. VAUGHAN & Co SECURITIES INC. boosted its position in International Business Machines by 1.7% during the 2nd quarter. VAUGHAN & Co SECURITIES INC. now owns 3,234 shares of the technology company’s stock worth $953,000 after buying an additional 53 shares during the period. Beacon Financial Advisory LLC grew its holdings in International Business Machines by 38.3% during the 2nd quarter. Beacon Financial Advisory LLC now owns 2,172 shares of the technology company’s stock worth $640,000 after acquiring an additional 602 shares during the last quarter. Simplicity Wealth LLC increased its position in International Business Machines by 556.0% in the 2nd quarter. Simplicity Wealth LLC now owns 13,362 shares of the technology company’s stock valued at $3,939,000 after acquiring an additional 11,325 shares during the period. Finally, OLD National Bancorp IN grew its stake in shares of International Business Machines by 191.4% in the second quarter. OLD National Bancorp IN now owns 37,803 shares of the technology company’s stock worth $11,144,000 after purchasing an additional 24,831 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Performance

IBM opened at $288.62 on Friday. The company has a market cap of $268.25 billion, a price-to-earnings ratio of 46.85, a PEG ratio of 4.44 and a beta of 0.73. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00. International Business Machines Corporation has a 1-year low of $203.51 and a 1-year high of $296.16. The company’s fifty day moving average price is $255.18 and its two-hundred day moving average price is $259.27.

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

International Business Machines Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Sanford C. Bernstein initiated coverage on International Business Machines in a research report on Monday, September 15th. They issued a “market perform” rating and a $280.00 price target on the stock. The Goldman Sachs Group boosted their price target on shares of International Business Machines from $270.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, July 2nd. Royal Bank Of Canada boosted their target price on shares of International Business Machines from $285.00 to $315.00 and gave the company an “outperform” rating in a report on Thursday, July 17th. Wall Street Zen raised International Business Machines from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of International Business Machines in a report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $284.62.

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.