Putney Financial Group LLC Trims Position in International Business Machines Corporation $IBM

Putney Financial Group LLC lowered its stake in shares of International Business Machines Corporation (NYSE:IBM) by 2.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,381 shares of the technology company’s stock after selling 115 shares during the quarter. International Business Machines comprises about 1.2% of Putney Financial Group LLC’s holdings, making the stock its 12th largest position. Putney Financial Group LLC’s holdings in International Business Machines were worth $1,586,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of International Business Machines by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 93,137,767 shares of the technology company’s stock valued at $23,159,637,000 after purchasing an additional 1,298,515 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of 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 worth $2,147,608,000 after purchasing an additional 524,633 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of 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 worth $1,371,812,000 after purchasing an additional 52,317 shares during the period. Goldman Sachs Group Inc. grew its position in International Business Machines by 20.8% in the 1st 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 last quarter. Finally, Dimensional Fund Advisors LP increased its stake in International Business Machines by 0.5% in the 1st 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 owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on IBM. Royal Bank Of Canada reduced their target price on shares of International Business Machines from $315.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, October 23rd. Wall Street Zen raised shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Sunday, October 26th. JPMorgan Chase & Co. raised their price objective 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. Morgan Stanley dropped their target price on International Business Machines from $256.00 to $252.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 23rd. Finally, Sanford C. Bernstein started coverage on 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. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $288.00.

International Business Machines Trading Up 0.6%

Shares of IBM opened at $310.03 on Friday. International Business Machines Corporation has a twelve month low of $203.51 and a twelve month high of $319.35. 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 firm has a market capitalization of $289.79 billion, a P/E ratio of 37.08, a PEG ratio of 4.33 and a beta of 0.73. The firm’s 50-day moving average is $271.85 and its two-hundred day moving average is $266.01.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 22nd. The technology company reported $2.65 earnings per share (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 net margin of 12.09% and a return on equity of 37.76%. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period last year, the firm earned $2.30 EPS. International Business Machines has set its FY 2025 guidance at EPS. On average, research analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced 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 of this dividend is Monday, November 10th. This represents a $6.72 annualized dividend and a yield of 2.2%. International Business Machines’s dividend payout ratio is 80.38%.

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.