Penserra Capital Management LLC Sells 3,670 Shares of International Business Machines Corporation $IBM

Penserra Capital Management LLC trimmed its stake in International Business Machines Corporation (NYSE:IBM) by 4.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,998 shares of the technology company’s stock after selling 3,670 shares during the period. Penserra Capital Management LLC’s holdings in International Business Machines were worth $23,874,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Brooklyn Investment Group lifted its position in International Business Machines by 32.7% in the first quarter. Brooklyn Investment Group now owns 6,622 shares of the technology company’s stock worth $1,647,000 after purchasing an additional 1,630 shares during the period. Edgar Lomax Co. VA raised its stake in shares of International Business Machines by 5.7% in the 1st quarter. Edgar Lomax Co. VA now owns 235,967 shares of the technology company’s stock valued at $58,676,000 after buying an additional 12,690 shares in the last quarter. Left Brain Wealth Management LLC lifted its holdings in shares of International Business Machines by 1,547.8% during the 1st quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company’s stock worth $4,392,000 after acquiring an additional 16,592 shares during the period. Wedbush Securities Inc. lifted its holdings in shares of International Business Machines by 5.6% during the 1st quarter. Wedbush Securities Inc. now owns 62,067 shares of the technology company’s stock worth $15,434,000 after acquiring an additional 3,276 shares during the period. Finally, Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. bought a new stake in International Business Machines in the first quarter valued at about $4,608,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on IBM. Morgan Stanley cut their price target on shares of International Business Machines from $256.00 to $252.00 and set an “equal weight” rating for the company in a research note on Thursday, October 23rd. JPMorgan Chase & Co. raised their target price on International Business Machines from $244.00 to $290.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Royal Bank Of Canada decreased their price target on International Business Machines from $315.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, October 23rd. BMO Capital Markets increased their price objective on International Business Machines from $300.00 to $305.00 and gave the stock a “market perform” rating in a research note on Thursday, October 23rd. Finally, Bank of America lifted their price objective on International Business Machines from $310.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. One investment 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 issued a Sell rating to the company. Based on data from MarketBeat, International Business Machines has an average rating of “Moderate Buy” and an average price target of $288.00.

International Business Machines Trading Down 1.9%

IBM stock opened at $306.64 on Friday. The business has a fifty day moving average price of $279.45 and a 200 day moving average price of $268.83. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.93 and a quick ratio of 0.89. International Business Machines Corporation has a fifty-two week low of $204.07 and a fifty-two week high of $319.35. The stock has a market capitalization of $286.63 billion, a price-to-earnings ratio of 36.68, a P/E/G ratio of 4.33 and a beta of 0.71.

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 analysts’ consensus estimates of $2.45 by $0.20. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.The company had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.10 billion. During the same quarter in the previous year, the firm earned $2.30 earnings per share. The business’s revenue was up 9.1% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. Analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed 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. This represents a $6.72 annualized dividend and a yield of 2.2%. The ex-dividend date is Monday, November 10th. International Business Machines’s dividend payout ratio (DPR) is presently 80.38%.

International Business Machines Profile

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.