Atria Investments Inc Sells 9,541 Shares of International Business Machines Corporation $IBM

Key Points

• Atria Investments reduced its IBM position by 14.4%, selling 9,541 shares and retaining 56,830 shares valued at approximately $15.98 million. Institutional investors collectively own 58.96% of IBM.
• Analyst sentiment remains broadly positive, with 16 Buy, 11 Hold and one Sell rating. IBM has a “Moderate Buy” consensus and an average price target of $265.40, although some analysts recently downgraded or lowered their targets.
• IBM reported quarterly adjusted EPS of $2.93, in line with expectations, but revenue of $17.16 billion missed the $17.46 billion consensus estimate. The company also declared a quarterly dividend of $1.69 per share, equivalent to a 2.9% annualized yield.

Atria Investments Inc lessened its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 14.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 56,830 shares of the technology company's stock after selling 9,541 shares during the quarter. Atria Investments Inc's holdings in International Business Machines were worth $15,981,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in International Business Machines during the 4th quarter worth approximately $2,446,429,000. Capital World Investors grew its holdings in shares of International Business Machines by 29.2% during the fourth quarter. Capital World Investors now owns 22,021,912 shares of the technology company's stock valued at $6,523,720,000 after buying an additional 4,976,756 shares during the last quarter. Ascentis Wealth Management LLC raised its stake in International Business Machines by 27,169.6% in the 2nd quarter. Ascentis Wealth Management LLC now owns 3,224,635 shares of the technology company's stock worth $906,800,000 after acquiring an additional 3,212,810 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in International Business Machines by 83.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,617,117 shares of the technology company's stock worth $1,663,847,000 after acquiring an additional 2,553,552 shares during the last quarter. Finally, Corient Private Wealth LLC grew its stake in International Business Machines by 359.6% during the 4th quarter. Corient Private Wealth LLC now owns 1,896,675 shares of the technology company's stock valued at $561,814,000 after purchasing an additional 1,484,026 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on IBM. Robert W. Baird started coverage on International Business Machines in a research note on Tuesday, July 21st. They issued a "neutral" rating and a $230.00 price objective for the company. Wolfe Research downgraded shares of International Business Machines to a "peer perform" rating in a research report on Tuesday, June 23rd. Bank of America increased their price target on International Business Machines from $315.00 to $330.00 and gave the stock a "buy" rating in a research report on Monday, July 6th. Barclays lowered their target price on International Business Machines from $288.00 to $262.00 and set an "overweight" rating on the stock in a research note on Thursday, July 23rd. Finally, Oppenheimer cut International Business Machines from an "outperform" rating to a "market perform" rating in a research report on Wednesday, July 15th. Sixteen equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $265.40.

More International Business Machines News

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

• Positive Sentiment: IBM completed its acquisition of HRL Laboratories, adding expertise in quantum computing, quantum sensing, advanced communications, materials science and electronics. The deal could strengthen IBM’s long-term quantum and advanced-technology pipeline. IBM Completes Acquisition of HRL Laboratories to Accelerate the Future of Quantum
• Positive Sentiment: The company’s new dual-architecture mainframe processor, developed with Arm Holdings, can execute IBM and Arm instructions natively on the same chip. The technology could broaden IBM Z and LinuxONE’s software ecosystem, support Arm-native applications and improve IBM’s positioning in enterprise AI and infrastructure. What Could IBM Gain From Its First Dual Architecture Mainframe Processor?
• Positive Sentiment: Commentator Jim Cramer said IBM is performing better than its reputation suggests and that the stock deserves more credit. The remarks may support sentiment, although they do not materially change IBM’s fundamentals. Jim Cramer Says IBM Is a Hated Stock That Deserves Better
• Neutral Sentiment: IBM’s quantum milestone involved connecting and cooling two cryogenic modules, while broader industry spending on post-quantum cybersecurity could create future opportunities for IBM. However, these benefits remain longer-term and are difficult to translate into immediate revenue. Quantum Computing Is Raising the Stakes for Cybersecurity
• Negative Sentiment: BTIG reportedly cautioned that the quantum achievement does not yet demonstrate a commercially scalable system, tempering investor enthusiasm and contributing to pressure on IBM’s shares. IBM Stock Falls as BTIG Pours Cold Water on Quantum Computing Milestone
• Negative Sentiment: Recent earnings showed revenue of $17.16 billion, below the $17.46 billion consensus estimate, despite in-line adjusted earnings. Reports also highlighted weak mainframe sales, reinforcing concerns that IBM’s growth and new product benefits may take time to emerge.
• Negative Sentiment: A securities law firm announced an investigation related to IBM’s stock decline. Such notices are often investor-solicitation efforts and do not establish wrongdoing, but they can add near-term headline risk. IBM Securities Notice

International Business Machines Stock Down 1.7%

Shares of IBM opened at $230.15 on Thursday. The firm has a market cap of $216.83 billion, a P/E ratio of 20.42, a PEG ratio of 2.30 and a beta of 0.70. International Business Machines Corporation has a 12 month low of $199.19 and a 12 month high of $332.46. The stock's 50 day moving average is $245.07 and its two-hundred day moving average is $249.17. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.63.

International Business Machines (NYSE:IBM - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share for the quarter, hitting the consensus estimate of $2.93. International Business Machines had a return on equity of 35.65% and a net margin of 15.52%.The business had revenue of $17.16 billion during the quarter, compared to the consensus estimate of $17.46 billion. During the same period in the prior year, the company posted $2.80 EPS. The business's quarterly revenue was up 1.1% on a year-over-year basis. Analysts predict that International Business Machines Corporation will post 12.33 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 10th will be given a dividend of $1.69 per share. The ex-dividend date is Monday, August 10th. This represents a $6.76 dividend on an annualized basis and a yield of 2.9%. International Business Machines's dividend payout ratio is currently 59.98%.

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.

Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Corporation (NYSE:IBM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source