Interchange Capital Partners LLC Sells 3,629 Shares of International Business Machines Corporation $IBM

Interchange Capital Partners LLC cut its stake in International Business Machines Corporation (NYSE:IBM) by 75.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,196 shares of the technology company’s stock after selling 3,629 shares during the quarter. International Business Machines accounts for about 0.3% of Interchange Capital Partners LLC’s portfolio, making the stock its 24th biggest position. Interchange Capital Partners LLC’s holdings in International Business Machines were worth $353,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of IBM. Brighton Jones LLC boosted its position in shares of International Business Machines by 12.4% during the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock valued at $4,619,000 after buying an additional 2,323 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of International Business Machines by 19.3% during the first quarter. GAMMA Investing LLC now owns 17,694 shares of the technology company’s stock valued at $4,400,000 after buying an additional 2,862 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of International Business Machines by 27.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,158,366 shares of the technology company’s stock valued at $288,039,000 after buying an additional 250,283 shares during the last quarter. Grove Bank & Trust boosted its position in shares of International Business Machines by 14.1% during the first quarter. Grove Bank & Trust now owns 8,479 shares of the technology company’s stock valued at $2,108,000 after buying an additional 1,050 shares during the last quarter. Finally, Stephens Consulting LLC boosted its position in shares of International Business Machines by 1.4% during the first quarter. Stephens Consulting LLC now owns 3,879 shares of the technology company’s stock valued at $965,000 after buying an additional 54 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on IBM. Royal Bank Of Canada upped their price objective on shares of International Business Machines from $285.00 to $315.00 and gave the stock an “outperform” rating in a research report on Thursday, July 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of International Business Machines in a research report on Wednesday, October 8th. JPMorgan Chase & Co. upped their price objective on shares of International Business Machines from $244.00 to $290.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. BMO Capital Markets upped their price objective on shares of International Business Machines from $260.00 to $300.00 and gave the stock a “market perform” rating in a research report on Friday, July 18th. Finally, Wall Street Zen raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. 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. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $284.62.

International Business Machines Stock Down 0.4%

International Business Machines stock opened at $276.12 on Wednesday. International Business Machines Corporation has a twelve month low of $203.51 and a twelve month high of $301.04. The firm has a 50 day moving average price of $259.20 and a 200-day moving average price of $261.11. The company has a market capitalization of $256.63 billion, a P/E ratio of 44.83, a P/E/G ratio of 4.27 and a beta of 0.73. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.65 by $0.15. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The firm had revenue of $16.98 billion during the quarter, compared to the consensus estimate of $16.58 billion. During the same period in the prior year, the firm earned $2.43 EPS. The company’s revenue was up 7.7% compared to the same quarter last year. 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 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were given a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, August 8th. International Business Machines’s dividend payout ratio is currently 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.