Peninsula Asset Management Inc. Sells 206 Shares of International Business Machines Corporation $IBM

Peninsula Asset Management Inc. decreased its position in shares of International Business Machines Corporation (NYSE:IBM) by 1.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,980 shares of the technology company’s stock after selling 206 shares during the quarter. International Business Machines accounts for approximately 1.7% of Peninsula Asset Management Inc.’s investment portfolio, making the stock its 21st largest position. Peninsula Asset Management Inc.’s holdings in International Business Machines were worth $3,237,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of IBM. Brooklyn Investment Group raised its stake in International Business Machines by 32.7% during the first quarter. Brooklyn Investment Group now owns 6,622 shares of the technology company’s stock worth $1,647,000 after acquiring an additional 1,630 shares in the last quarter. Edgar Lomax Co. VA boosted 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 purchasing an additional 12,690 shares in the last quarter. Left Brain Wealth Management LLC grew 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 valued at $4,392,000 after purchasing an additional 16,592 shares during the last quarter. Wedbush Securities Inc. increased its position in 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 purchasing an additional 3,276 shares in the last quarter. Finally, Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. bought a new position in International Business Machines in the 1st quarter valued at approximately $4,608,000. 58.96% of the stock is owned by institutional investors.

International Business Machines Price Performance

NYSE:IBM opened at $306.64 on Monday. The stock has a fifty day moving average of $279.45 and a 200 day moving average of $269.19. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.89 and a current ratio of 0.93. The firm 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 Corporation has a 52-week low of $204.07 and a 52-week high of $319.35.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 22nd. The technology company reported $2.65 earnings per share 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 analyst estimates of $16.10 billion. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.International Business Machines’s revenue for the quarter was up 9.1% on a year-over-year basis. 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. On average, research analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on IBM shares. Morgan Stanley lowered their target price on 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. 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 note on Thursday, July 24th. Bank of America increased their price objective on shares of International Business Machines from $310.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Erste Group Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Thursday, August 14th. Finally, Royal Bank Of Canada lowered 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 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 assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” 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.