RWWM Inc. Sells 3,154 Shares of International Business Machines Corporation $IBM

RWWM Inc. trimmed its position in International Business Machines Corporation (NYSE:IBM) by 33.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 6,387 shares of the technology company’s stock after selling 3,154 shares during the period. International Business Machines comprises 0.1% of RWWM Inc.’s investment portfolio, making the stock its 22nd biggest position. RWWM Inc.’s holdings in International Business Machines were worth $1,548,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of International Business Machines by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 97,216,131 shares of the technology company’s stock worth $28,796,390,000 after buying an additional 1,439,824 shares during the last quarter. State Street Corp increased its position in shares of International Business Machines by 1.0% during the 4th quarter. State Street Corp now owns 54,996,293 shares of the technology company’s stock valued at $16,290,452,000 after purchasing an additional 518,321 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of International Business Machines by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 22,605,083 shares of the technology company’s stock worth $6,679,105,000 after purchasing an additional 336,069 shares during the period. Capital World Investors raised its stake in shares of International Business Machines by 29.2% during the 4th quarter. Capital World Investors now owns 22,021,912 shares of the technology company’s stock worth $6,523,720,000 after purchasing an additional 4,976,756 shares during the period. Finally, Norges Bank purchased a new position in shares of International Business Machines in the 4th quarter worth about $2,446,429,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Bank of America increased their price target on shares of International Business Machines from $315.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, July 6th. HSBC cut shares of International Business Machines from a “hold” rating to a “reduce” rating and dropped their target price for the company from $231.00 to $191.00 in a research note on Tuesday. Roth Capital reissued a “buy” rating on shares of International Business Machines in a research report on Wednesday, June 3rd. Morgan Stanley raised their price target on shares of International Business Machines from $267.00 to $293.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, Stifel Nicolaus set a $290.00 price target on shares of International Business Machines in a report on Friday, May 22nd. Fourteen investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $307.17.

Key Headlines Impacting International Business Machines

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

• Negative Sentiment: IBM reported preliminary Q2 revenue of about $17.2 billion and adjusted EPS of $2.93, both below estimates, raising concerns about near-term growth and execution. Reuters: IBM expects second-quarter revenue below estimates
• Negative Sentiment: CEO Arvind Krishna said the company “faltered,” citing delayed deal closures and customers shifting budgets toward AI infrastructure and memory chips, which hurt software and infrastructure sales. CNBC: IBM warns second-quarter earnings fell short of expectations
• Negative Sentiment: The warning is dragging other software and IT services names lower, reinforcing fears that enterprise spending is moving away from traditional software vendors and toward AI hardware/cybersecurity. Investor’s Business Daily: Stock Market Jumps As Inflation Eases; IBM Warns

International Business Machines Trading Down 25.4%

Shares of IBM opened at $216.59 on Wednesday. International Business Machines Corporation has a fifty-two week low of $212.34 and a fifty-two week high of $332.46. The business has a 50-day moving average of $264.70 and a 200 day moving average of $265.20. The firm has a market cap of $203.57 billion, a P/E ratio of 19.15, a price-to-earnings-growth ratio of 2.80 and a beta of 0.68. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.80.

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

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 8th were issued a $1.69 dividend. This is a boost from International Business Machines’s previous quarterly dividend of $1.68. The ex-dividend date of this dividend was Friday, May 8th. This represents a $6.76 annualized dividend and a yield of 3.1%. International Business Machines’s payout ratio is 59.77%.

About International Business Machines

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.