Birmingham Capital Management Co. Inc. AL Sells 1,940 Shares of International Business Machines Corporation $IBM

Key Points

• Birmingham Capital Management Co. Inc. has reduced its stake in IBM by 6.3%, selling 1,940 shares, which now constitutes 2.7% of its total holdings valued at approximately $7.2 million.
• Various institutional investors have increased their positions in IBM, with companies like Brighton Jones LLC boosting their stake by 12.4% during the last quarter.
• Analysts have mixed ratings on IBM, with Goldman Sachs increasing their price target to $310 and others assigning a range from "Strong Buy" to "Sell", leading to a consensus rating of "Hold" with a target price of $270.67.

Birmingham Capital Management Co. Inc. AL lessened its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 6.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,918 shares of the technology company's stock after selling 1,940 shares during the quarter. International Business Machines comprises 2.7% of Birmingham Capital Management Co. Inc. AL's holdings, making the stock its 9th biggest position. Birmingham Capital Management Co. Inc. AL's holdings in International Business Machines were worth $7,191,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC grew its stake in International Business Machines by 29,564.2% during the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock worth $10,940,520,000 after buying an additional 4,384,958 shares during the last quarter. GQG Partners LLC acquired a new position in shares of International Business Machines during the first quarter valued at about $1,040,057,000. Nuveen LLC purchased a new position in shares of International Business Machines in the 1st quarter valued at approximately $960,386,000. Vanguard Group Inc. raised its position 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 purchasing an additional 1,298,515 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in International Business Machines by 41.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,164,987 shares of the technology company's stock worth $787,007,000 after purchasing an additional 930,448 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on IBM. Stifel Nicolaus raised their price target on shares of International Business Machines from $290.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. The Goldman Sachs Group lifted their price target on International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. BMO Capital Markets boosted their price target on International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a research note on Friday, July 18th. Wedbush raised their price objective on International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. Finally, JPMorgan Chase & Co. upped their target price on 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, seven have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $270.67.

International Business Machines Stock Performance

Shares of IBM stock traded down $3.55 on Friday, hitting $253.46. The company had a trading volume of 3,430,296 shares, compared to its average volume of 3,708,693. International Business Machines Corporation has a twelve month low of $203.51 and a twelve month high of $296.16. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. The firm has a market cap of $235.57 billion, a P/E ratio of 41.15, a price-to-earnings-growth ratio of 3.96 and a beta of 0.71. The company has a 50-day moving average price of $257.59 and a 200-day moving average price of $256.93.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $16.98 billion during the quarter, compared to analysts' expectations of $16.58 billion. During the same period last year, the business earned $2.43 earnings per share. International Business Machines's quarterly revenue was up 7.7% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were issued a dividend of $1.68 per share. The ex-dividend date of this dividend was 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%.

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.