Abundance Wealth Counselors Sells 7,566 Shares of International Business Machines Corporation $IBM

Key Points

• Abundance Wealth Counselors decreased its stake in IBM by 50.6% during the second quarter, selling 7,566 shares and leaving it with 7,399 shares valued at $2,181,000.
• Several institutional investors have increased or initiated stakes in IBM, with Highline Wealth Partners growing its holdings by 85.0% during the same period.
• IBM's stock was recently rated as a "Moderate Buy" with an average target price of $284.62, despite varying ratings from different financial analysts.

Abundance Wealth Counselors lowered its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 50.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,399 shares of the technology company's stock after selling 7,566 shares during the quarter. Abundance Wealth Counselors' holdings in International Business Machines were worth $2,181,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Family CFO Inc bought a new stake in International Business Machines during the second quarter worth $25,000. Christopher J. Hasenberg Inc bought a new stake in International Business Machines during the first quarter worth $27,000. SSA Swiss Advisors AG bought a new stake in International Business Machines during the first quarter worth $28,000. Highline Wealth Partners LLC grew its holdings in International Business Machines by 85.0% during the second quarter. Highline Wealth Partners LLC now owns 111 shares of the technology company's stock worth $33,000 after buying an additional 51 shares in the last quarter. Finally, Dagco Inc. bought a new stake in International Business Machines during the first quarter worth $31,000. Institutional investors own 58.96% of the company's stock.

Wall Street Analyst Weigh In

IBM has been the topic of several research analyst reports. Melius Research raised International Business Machines to a "strong-buy" rating in a research report on Monday, July 7th. BMO Capital Markets boosted their price objective on International Business Machines from $260.00 to $300.00 and gave the stock a "market perform" rating in a research report on Friday, July 18th. Sanford C. Bernstein initiated coverage on International Business Machines in a research report on Monday, September 15th. They issued a "market perform" rating and a $280.00 price objective on the stock. Erste Group Bank cut International Business Machines from a "buy" rating to a "hold" rating in a research report on Thursday, August 14th. Finally, Bank of America cut their price objective on International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, International Business Machines has an average rating of "Moderate Buy" and an average target price of $284.62.

International Business Machines Stock Up 0.2%

Shares of NYSE IBM opened at $287.05 on Friday. International Business Machines Corporation has a one year low of $203.51 and a one year high of $296.16. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87. The business's fifty day moving average price is $254.60 and its 200-day moving average price is $258.93. The stock has a market capitalization of $266.78 billion, a PE ratio of 46.60, a P/E/G ratio of 4.41 and a beta of 0.73.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, beating analysts' consensus estimates of $2.65 by $0.15. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.The firm had revenue of $16.98 billion for the quarter, compared to analysts' expectations of $16.58 billion. During the same quarter in the prior year, the firm earned $2.43 EPS. The business's revenue for the quarter was up 7.7% compared to the same quarter last year. International Business Machines has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were given a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Friday, August 8th. International Business Machines's dividend payout ratio is currently 109.09%.

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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