Richards Merrill & Peterson Inc. Sells 192 Shares of International Business Machines Corporation $IBM

Richards Merrill & Peterson Inc. decreased its position in shares of International Business Machines Corporation (NYSE:IBM) by 2.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 7,224 shares of the technology company’s stock after selling 192 shares during the quarter. International Business Machines accounts for 1.0% of Richards Merrill & Peterson Inc.’s portfolio, making the stock its 21st largest holding. Richards Merrill & Peterson Inc.’s holdings in International Business Machines were worth $2,130,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Lifestyle Asset Management Inc. increased its position in shares of International Business Machines by 1.7% during the second quarter. Lifestyle Asset Management Inc. now owns 2,144 shares of the technology company’s stock valued at $632,000 after buying an additional 36 shares during the period. Whelan Financial increased its position in shares of International Business Machines by 2.4% during the second quarter. Whelan Financial now owns 1,525 shares of the technology company’s stock valued at $450,000 after buying an additional 36 shares during the period. Ignite Planners LLC increased its position in shares of International Business Machines by 0.9% during the second quarter. Ignite Planners LLC now owns 3,964 shares of the technology company’s stock valued at $1,133,000 after buying an additional 36 shares during the period. Blue Edge Capital LLC increased its position in shares of International Business Machines by 0.6% during the first quarter. Blue Edge Capital LLC now owns 6,776 shares of the technology company’s stock valued at $1,685,000 after buying an additional 39 shares during the period. Finally, Johnson Bixby & Associates LLC increased its position in shares of International Business Machines by 3.3% during the second quarter. Johnson Bixby & Associates LLC now owns 1,208 shares of the technology company’s stock valued at $356,000 after buying an additional 39 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

NYSE:IBM opened at $307.78 on Friday. The firm has a market cap of $286.05 billion, a PE ratio of 36.82, a price-to-earnings-growth ratio of 4.35 and a beta of 0.73. International Business Machines Corporation has a fifty-two week low of $203.51 and a fifty-two week high of $310.75. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.87 and a current ratio of 0.93. The business has a 50 day moving average price of $266.21 and a 200-day moving average price of $263.57.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, October 22nd. The technology company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.20. The company had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.10 billion. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.30 earnings per share. International Business Machines has set its FY 2025 guidance at EPS. Equities research analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th will be issued a $1.68 dividend. The ex-dividend date is Monday, November 10th. This represents a $6.72 dividend on an annualized basis and a yield of 2.2%. International Business Machines’s dividend payout ratio is 80.38%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on IBM. Bank of America upped their price target on International Business Machines from $310.00 to $315.00 and gave the company a “buy” rating in a research report on Thursday. Royal Bank Of Canada decreased their price objective on shares of International Business Machines from $315.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday. Wall Street Zen cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Jefferies Financial Group upped their price objective on shares of International Business Machines from $280.00 to $305.00 and gave the stock a “hold” rating in a research report on Tuesday. Finally, Sanford C. Bernstein assumed coverage on shares of International Business Machines in a research report on Monday, September 15th. They issued a “market perform” rating and a $280.00 price objective on the stock. One equities research 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 company’s stock. According to data from MarketBeat, International Business Machines currently has an average rating of “Hold” and a consensus target price of $288.00.

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.