Abacus Planning Group Inc. Reduces Stake in International Business Machines Corporation $IBM

Key Points

• Abacus Planning Group Inc. reduced its stake in International Business Machines Corporation (IBM) by 59.3% during the second quarter, leaving it with 1,385 shares valued at approximately $408,000.
• Several other hedge funds, including Vanguard Group and Goldman Sachs, have increased their holdings in IBM, reflecting continued institutional interest in the company.
• IBM reported earnings of $2.80 per share for the last quarter, exceeding expectations, and declared a quarterly dividend of $1.68 per share, with an annual yield of 2.5% despite a high dividend payout ratio of 109.09%.

Abacus Planning Group Inc. lowered its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 59.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,385 shares of the technology company's stock after selling 2,017 shares during the quarter. Abacus Planning Group Inc.'s holdings in International Business Machines were worth $408,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of International Business Machines by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 93,137,767 shares of the technology company's stock valued at $23,159,637,000 after acquiring an additional 1,298,515 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in International Business Machines by 6.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,636,725 shares of the technology company's stock worth $2,147,608,000 after buying an additional 524,633 shares during the last quarter. Ameriprise Financial Inc. grew its stake in International Business Machines by 1.0% during the 1st quarter. Ameriprise Financial Inc. now owns 5,516,240 shares of the technology company's stock worth $1,371,812,000 after buying an additional 52,317 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in International Business Machines by 20.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,157,846 shares of the technology company's stock worth $1,282,550,000 after buying an additional 889,008 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in International Business Machines by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,108,455 shares of the technology company's stock worth $1,270,022,000 after buying an additional 24,790 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

International Business Machines Stock Performance

Shares of IBM stock opened at $271.87 on Tuesday. The stock has a fifty day moving average price of $254.58 and a 200 day moving average price of $257.38. The stock has a market cap of $252.67 billion, a PE ratio of 44.13, a P/E/G ratio of 4.10 and a beta of 0.71. International Business Machines Corporation has a 1 year low of $203.51 and a 1 year high of $296.16. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.15. The firm had revenue of $16.98 billion during the quarter, compared to analysts' expectations of $16.58 billion. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.International Business Machines's revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.43 earnings per share. International Business Machines has set its FY 2025 guidance at EPS. Sell-side analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were given a dividend of $1.68 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $6.72 annualized dividend and a yield of 2.5%. International Business Machines's dividend payout ratio (DPR) is presently 109.09%.

Wall Street Analyst Weigh In

IBM has been the topic of a number of research reports. UBS Group raised their price target on International Business Machines from $195.00 to $200.00 and gave the stock a "sell" rating in a research note on Thursday, July 24th. Wall Street Zen upgraded International Business Machines from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Bank of America dropped their price target on International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a research note on Thursday, July 24th. JPMorgan Chase & Co. raised their price target 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. Finally, Stifel Nicolaus increased their price objective on International Business Machines from $290.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $275.00.

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.

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