Cullinan Associates Inc. Sells 22,461 Shares of International Business Machines Corporation $IBM

Cullinan Associates Inc. trimmed its position in shares of International Business Machines Corporation (NYSE:IBM) by 18.9% in the 1st quarter, Holdings Channel reports. The institutional investor owned 96,645 shares of the technology company’s stock after selling 22,461 shares during the quarter. International Business Machines accounts for 1.9% of Cullinan Associates Inc.’s investment portfolio, making the stock its 12th largest holding. Cullinan Associates Inc.’s holdings in International Business Machines were worth $23,426,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in IBM. VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in shares of International Business Machines by 424.6% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 260,740 shares of the technology company’s stock worth $77,234,000 after buying an additional 211,040 shares during the period. GLOBALT Investments LLC GA boosted its holdings in International Business Machines by 19.1% during the 4th quarter. GLOBALT Investments LLC GA now owns 18,288 shares of the technology company’s stock valued at $5,417,000 after acquiring an additional 2,930 shares during the period. Newbridge Financial Services Group Inc. grew its position in International Business Machines by 30.0% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 13,122 shares of the technology company’s stock valued at $3,887,000 after acquiring an additional 3,029 shares during the last quarter. Rice Partnership LLC purchased a new stake in International Business Machines in the fourth quarter worth $3,317,000. Finally, Sage Investment Advisers LLC bought a new stake in shares of International Business Machines during the fourth quarter worth $4,101,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

More International Business Machines News

Here are the key news stories impacting International Business Machines this week:

• Positive Sentiment: IBM continues to get credit for growth in quantum computing and AI, including new enterprise software tools and multi-agent capabilities that could support future revenue. IBM Advances Enterprise AI Software Development with Multi-Agent Capabilities and Specialized Modernization Workflows
• Positive Sentiment: The stock still has implied upside to Susquehanna’s target, suggesting analysts see value if IBM can convert its AI and quantum strengths into stronger earnings growth. Susquehanna coverage note
• Neutral Sentiment: IBM’s latest product updates for its Bob platform and other AI tools reinforce its enterprise strategy, but these launches are not yet enough to change the near-term investment view. IBM Upgrades Bob With Multi-Agent AI
• Negative Sentiment: Starbucks’ move to build internal AI tools to replace Microsoft and IBM software highlights a potential risk to IBM’s enterprise software revenue if other large customers follow suit. There Are So Many Reasons to Like IBM Right Now—Just Not Enough to Buy the Stock
• Negative Sentiment: Analysts remain cautious heading into IBM’s upcoming Q2 earnings, with concerns that AI could pressure parts of the consulting and mainframe business even as newer growth areas expand. Susquehanna Praises IBM’s Quantum and AI Growth but Rates the Stock a Hold – Here’s Why

International Business Machines Stock Down 2.5%

NYSE:IBM traded down $7.45 during mid-day trading on Friday, reaching $287.85. The company’s stock had a trading volume of 3,633,419 shares, compared to its average volume of 7,627,529. International Business Machines Corporation has a 1 year low of $212.34 and a 1 year high of $332.46. The stock has a fifty day moving average of $263.77 and a 200-day moving average of $266.17. The firm has a market capitalization of $270.55 billion, a PE ratio of 25.45, a price-to-earnings-growth ratio of 2.78 and a beta of 0.68. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.75.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, April 22nd. The technology company reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.10. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The business had revenue of $15.92 billion for the quarter, compared to the consensus estimate of $15.60 billion. During the same quarter last year, the firm posted $1.60 EPS. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. Equities research analysts forecast that International Business Machines Corporation will post 12.45 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 8th were paid a dividend of $1.69 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.68. The ex-dividend date was Friday, May 8th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 2.3%. International Business Machines’s dividend payout ratio (DPR) is currently 59.77%.

Analyst Ratings Changes

IBM has been the topic of a number of research analyst reports. HSBC upgraded shares of International Business Machines from a “reduce” rating to a “hold” rating and upped their price target for the stock from $218.00 to $231.00 in a report on Tuesday, April 28th. Roth Capital restated a “buy” rating on shares of International Business Machines in a research note on Wednesday, June 3rd. Bank of America raised their target price on shares of International Business Machines from $315.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. KeyCorp downgraded shares of International Business Machines to a “sector weight” rating in a research note on Tuesday, June 23rd. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of International Business Machines in a report on Tuesday, June 23rd. Sixteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, International Business Machines currently has a consensus rating of “Moderate Buy” and a consensus target price of $306.28.

International Business Machines Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.