Banque Pictet & Cie SA Sells 10,810 Shares of International Business Machines Corporation $IBM

Key Points

• Banque Pictet & Cie SA has decreased its holdings in International Business Machines Corporation (IBM) by 23.4%, selling 10,810 shares during the second quarter, resulting in a remaining stake valued at approximately $10.4 million.
• IBM reported a quarterly earnings per share (EPS) of $2.80, exceeding estimates and showing a 7.7% increase in revenue year-over-year.
• The company recently declared a quarterly dividend of $1.68 per share, resulting in an annual yield of 2.4%, while the payout ratio stands at 109.09%.

Banque Pictet & Cie SA reduced its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 23.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 35,362 shares of the technology company's stock after selling 10,810 shares during the quarter. Banque Pictet & Cie SA's holdings in International Business Machines were worth $10,424,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Christopher J. Hasenberg Inc bought a new position in International Business Machines in the 1st quarter valued at approximately $27,000. SSA Swiss Advisors AG bought a new position in International Business Machines in the 1st quarter valued at approximately $28,000. Dagco Inc. bought a new position in shares of International Business Machines in the 1st quarter valued at $31,000. Silicon Valley Capital Partners lifted its stake in shares of International Business Machines by 322.6% in the 1st quarter. Silicon Valley Capital Partners now owns 131 shares of the technology company's stock valued at $32,000 after acquiring an additional 100 shares during the last quarter. Finally, Compass Financial Services Inc lifted its stake in shares of International Business Machines by 41.5% in the 1st quarter. Compass Financial Services Inc now owns 167 shares of the technology company's stock valued at $42,000 after acquiring an additional 49 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Trading Up 5.3%

NYSE IBM opened at $281.76 on Friday. The company has a market cap of $261.86 billion, a price-to-earnings ratio of 45.74, a P/E/G ratio of 4.12 and a beta of 0.71. International Business Machines Corporation has a 52 week low of $203.51 and a 52 week high of $296.16. The business has a 50 day moving average price of $254.09 and a 200-day moving average price of $257.72. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00.

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

International Business Machines Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Friday, August 8th. This represents a $6.72 annualized dividend and a dividend yield of 2.4%. International Business Machines's payout ratio is presently 109.09%.

Analyst Ratings Changes

A number of research analysts have recently commented on IBM shares. Wedbush increased their price target on International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a research note on Friday, June 20th. BMO Capital Markets increased their target price on International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a research report on Friday, July 18th. The Goldman Sachs Group raised their price objective on shares of International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. JPMorgan Chase & Co. raised their price objective on shares of International Business Machines from $244.00 to $290.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Finally, UBS Group raised their price objective on shares of International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target 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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