International Business Machines Corporation $IBM Shares Sold by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC reduced its holdings in IBM by 7.3%, selling 65,436 shares and currently owning 828,515 shares worth approximately $204.2 million.
• In the first quarter, institutional investors increased their stake in IBM, with GAMMA Investing LLC raising its stake by 29,564.2% while Vanguard Group now owns over 93 million shares, making up 58.96% of the stock.
• IBM reported an earnings per share of $2.80 for the last quarter, exceeding expectations and reflecting a 7.7% increase in revenue year-over-year.

AQR Capital Management LLC trimmed its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 7.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 828,515 shares of the technology company's stock after selling 65,436 shares during the quarter. AQR Capital Management LLC owned 0.09% of International Business Machines worth $204,187,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Christopher J. Hasenberg Inc bought a new position in International Business Machines during the 1st quarter valued at about $27,000. SSA Swiss Advisors AG bought a new position in shares of International Business Machines during the first quarter valued at approximately $28,000. Dagco Inc. bought a new position in shares of International Business Machines during the first quarter valued at approximately $31,000. Measured Risk Portfolios Inc. bought a new position in shares of International Business Machines during the fourth quarter valued at approximately $43,000. Finally, Park Square Financial Group LLC bought a new position in shares of International Business Machines during the fourth quarter valued at approximately $43,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on IBM. The Goldman Sachs Group increased their target price on shares of International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Erste Group Bank cut shares of International Business Machines from a "buy" rating to a "hold" rating in a report on Thursday, August 14th. Wedbush raised their target price on shares of International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. Melius Research upgraded shares of International Business Machines to a "strong-buy" rating in a research report on Monday, July 7th. Finally, JPMorgan Chase & Co. raised their price target on shares of International Business Machines from $244.00 to $290.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $268.75.

International Business Machines Trading Up 0.5%

Shares of International Business Machines stock traded up $1.29 on Friday, reaching $248.47. The company had a trading volume of 3,144,657 shares, compared to its average volume of 4,281,239. The firm's 50 day moving average price is $261.07 and its two-hundred day moving average price is $257.11. The firm has a market cap of $230.93 billion, a PE ratio of 40.34, a PEG ratio of 3.81 and a beta of 0.71. International Business Machines Corporation has a 52-week low of $199.34 and a 52-week 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 released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.65 by $0.15. The business had revenue of $16.98 billion for the quarter, compared to the consensus estimate of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The business's revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.43 EPS. International Business Machines has set its FY 2025 guidance at EPS. Sell-side analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th will be issued a dividend of $1.68 per share. The ex-dividend date is Friday, August 8th. This represents a $6.72 dividend on an annualized basis and a yield of 2.7%. International Business Machines's dividend payout ratio is 109.09%.

International Business Machines Profile

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.