Beacon Harbor Wealth Advisors Inc. Sells 31,708 Shares of International Business Machines Corporation $IBM

Beacon Harbor Wealth Advisors Inc. decreased its position in International Business Machines Corporation (NYSE:IBM) by 94.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,906 shares of the technology company’s stock after selling 31,708 shares during the period. Beacon Harbor Wealth Advisors Inc.’s holdings in International Business Machines were worth $562,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. CFO4Life Group LLC lifted its holdings in International Business Machines by 52.4% during the second quarter. CFO4Life Group LLC now owns 1,236 shares of the technology company’s stock worth $364,000 after acquiring an additional 425 shares in the last quarter. Financial Life Planners increased its holdings in shares of International Business Machines by 18.8% in the second quarter. Financial Life Planners now owns 751 shares of the technology company’s stock worth $221,000 after acquiring an additional 119 shares in the last quarter. Advisors Capital Management LLC lifted its holdings in shares of International Business Machines by 2.8% during the 2nd quarter. Advisors Capital Management LLC now owns 334,532 shares of the technology company’s stock valued at $98,614,000 after purchasing an additional 9,220 shares in the last quarter. Allianz SE lifted its holdings in shares of International Business Machines by 148.2% during the 2nd quarter. Allianz SE now owns 37,807 shares of the technology company’s stock valued at $11,145,000 after purchasing an additional 22,576 shares in the last quarter. Finally, Good Life Advisors LLC grew its position in shares of International Business Machines by 10.1% in the 2nd quarter. Good Life Advisors LLC now owns 10,507 shares of the technology company’s stock valued at $3,097,000 after purchasing an additional 966 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Up 0.2%

Shares of IBM stock opened at $305.35 on Friday. The firm’s fifty day moving average price is $285.92 and its two-hundred day moving average price is $271.35. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 1.97. International Business Machines Corporation has a 1 year low of $204.07 and a 1 year high of $324.90. The firm has a market capitalization of $285.42 billion, a P/E ratio of 36.53, a PEG ratio of 4.33 and a beta of 0.71.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data 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 company had revenue of $16.33 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company earned $2.30 EPS. International Business Machines has set its FY 2025 guidance at EPS. On average, equities analysts predict 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. Stockholders of record on Monday, November 10th will be paid a dividend of $1.68 per share. The ex-dividend date is Monday, November 10th. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.2%. International Business Machines’s dividend payout ratio is currently 80.38%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Stifel Nicolaus dropped their target price on shares of International Business Machines from $310.00 to $295.00 and set a “buy” rating on the stock in a report on Thursday, October 23rd. Erste Group Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Thursday, August 14th. Royal Bank Of Canada cut their price objective on shares of International Business Machines from $315.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday, October 23rd. Sanford C. Bernstein initiated coverage on 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. Finally, JPMorgan Chase & Co. lifted their price target on International Business Machines from $244.00 to $290.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, International Business Machines has an average 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.