Naviter Wealth LLC Sells 859 Shares of International Business Machines Corporation $IBM

Naviter Wealth LLC cut its stake in International Business Machines Corporation (NYSE:IBM) by 8.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,739 shares of the technology company’s stock after selling 859 shares during the quarter. Naviter Wealth LLC’s holdings in International Business Machines were worth $2,871,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of International Business Machines by 1.4% in the first quarter. Vanguard Group Inc. now owns 93,137,767 shares of the technology company’s stock worth $23,159,637,000 after acquiring an additional 1,298,515 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in 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 period. Ameriprise Financial Inc. grew its position 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 valued at $1,371,812,000 after buying an additional 52,317 shares during the period. Goldman Sachs Group Inc. grew its position 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 valued at $1,282,550,000 after buying an additional 889,008 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in International Business Machines by 0.5% during the first 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 period. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Performance

IBM opened at $277.21 on Tuesday. The firm has a market cap of $257.64 billion, a P/E ratio of 45.00, a PEG ratio of 4.28 and a beta of 0.73. International Business Machines Corporation has a 1-year low of $203.51 and a 1-year high of $301.04. The company has a 50 day simple moving average of $258.69 and a two-hundred day simple moving average of $261.01. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87.

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

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were issued a $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, August 8th. International Business Machines’s payout ratio is 109.09%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Bank of America cut 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 report on Thursday, July 24th. JPMorgan Chase & Co. boosted their target price on shares of International Business Machines from $244.00 to $290.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Sanford C. Bernstein assumed coverage on shares of International Business Machines in a research report on Monday, September 15th. They set a “market perform” rating and a $280.00 target price for the company. Wedbush boosted their target price on shares of International Business Machines from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, June 20th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of International Business Machines in a research report on Wednesday, October 8th. One investment 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 given a Sell rating to the company. According to MarketBeat.com, International Business Machines has a consensus rating of “Hold” and a consensus target price 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.