RNC Capital Management LLC Sells 126,872 Shares of International Business Machines Corporation $IBM

RNC Capital Management LLC reduced its stake in International Business Machines Corporation (NYSE:IBM) by 87.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,352 shares of the technology company’s stock after selling 126,872 shares during the quarter. RNC Capital Management LLC’s holdings in International Business Machines were worth $5,410,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in IBM. Brighton Jones LLC lifted its position in International Business Machines by 12.4% in the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock valued at $4,619,000 after acquiring an additional 2,323 shares in the last quarter. GAMMA Investing LLC lifted its position in International Business Machines by 19.3% in the 1st quarter. GAMMA Investing LLC now owns 17,694 shares of the technology company’s stock valued at $4,400,000 after acquiring an additional 2,862 shares in the last quarter. YHB Investment Advisors Inc. lifted its position in International Business Machines by 3.4% in the 1st quarter. YHB Investment Advisors Inc. now owns 4,705 shares of the technology company’s stock valued at $1,170,000 after acquiring an additional 156 shares in the last quarter. Moran Wealth Management LLC lifted its position in International Business Machines by 2.9% in the 1st quarter. Moran Wealth Management LLC now owns 19,501 shares of the technology company’s stock valued at $4,849,000 after acquiring an additional 550 shares in the last quarter. Finally, Archford Capital Strategies LLC lifted its position in International Business Machines by 3.3% in the 1st quarter. Archford Capital Strategies LLC now owns 8,988 shares of the technology company’s stock valued at $2,235,000 after acquiring an additional 289 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on IBM. Wall Street Zen lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Sanford C. Bernstein began coverage on shares of 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. Royal Bank Of Canada reiterated an “outperform” rating and set a $315.00 target price on shares of International Business Machines in a research note on Thursday, October 16th. Jefferies Financial Group boosted their target price on shares of International Business Machines from $280.00 to $305.00 and gave the company a “hold” rating in a research note on Tuesday. Finally, Melius Research upgraded shares of International Business Machines to a “strong-buy” rating in a research note on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $289.08.

International Business Machines Trading Up 2.0%

NYSE:IBM opened at $287.57 on Thursday. 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 firm has a market capitalization of $267.27 billion, a price-to-earnings ratio of 46.68, a price-to-earnings-growth ratio of 4.34 and a beta of 0.73. International Business Machines Corporation has a one year low of $203.51 and a one year high of $301.04. The business has a fifty day moving average price of $263.92 and a 200-day moving average price of $262.56.

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 the consensus estimate of $2.45 by $0.20. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.The firm had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.10 billion. During the same period in the prior year, the business posted $2.30 EPS. International Business Machines’s revenue was up 9.1% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. Sell-side analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th will be 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 is Monday, November 10th. International Business Machines’s dividend payout ratio is presently 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.