Jennison Associates LLC Cuts Stock Position in International Business Machines Corporation $IBM

Jennison Associates LLC lessened its stake in International Business Machines Corporation (NYSE:IBM) by 57.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 199,748 shares of the technology company’s stock after selling 266,817 shares during the quarter. Jennison Associates LLC’s holdings in International Business Machines were worth $58,882,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Family CFO Inc purchased a new stake in International Business Machines in the 2nd quarter worth $25,000. Christopher J. Hasenberg Inc purchased a new stake in International Business Machines in the 1st quarter worth $27,000. SSA Swiss Advisors AG purchased a new stake in International Business Machines in the 1st quarter worth $28,000. Highline Wealth Partners LLC increased its holdings in International Business Machines by 85.0% in the 2nd quarter. Highline Wealth Partners LLC now owns 111 shares of the technology company’s stock worth $33,000 after acquiring an additional 51 shares in the last quarter. Finally, Dagco Inc. purchased a new stake in shares of International Business Machines during the first quarter worth $31,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Down 1.4%

Shares of IBM stock opened at $308.17 on Thursday. The company’s 50-day moving average price is $270.43 and its 200-day moving average price is $265.70. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 1.97. The stock has a market cap of $288.05 billion, a price-to-earnings ratio of 36.86, a PEG ratio of 4.39 and a beta of 0.73. International Business Machines Corporation has a twelve month low of $203.51 and a twelve month high of $319.35.

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

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th will be given a $1.68 dividend. The ex-dividend date of this dividend 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 presently 80.38%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Sanford C. Bernstein assumed coverage on shares of International Business Machines in a report on Monday, September 15th. They set a “market perform” rating and a $280.00 target price for the company. JPMorgan Chase & Co. upped their target price on shares of International Business Machines from $244.00 to $290.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Jefferies Financial Group upped their target price on shares of International Business Machines from $280.00 to $305.00 and gave the stock a “hold” rating in a report on Tuesday, October 21st. Wall Street Zen raised shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Sunday. Finally, Morgan Stanley dropped their target price on shares of International Business Machines from $256.00 to $252.00 and set an “equal weight” rating for the company in a report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, International Business Machines presently has a consensus rating of “Moderate Buy” and a consensus price target 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.