Bryn Mawr Trust Advisors LLC Sells 7,691 Shares of International Business Machines Corporation $IBM

Key Points

• Bryn Mawr Trust Advisors cut its IBM stake by 13.1%, selling 7,691 shares and retaining 50,803 shares valued at about $11.2 million.
• IBM beat quarterly estimates, reporting EPS of $2.95 and revenue of $17.1 billion; revenue rose 4.7% year over year. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $266.88.
• IBM declared a quarterly dividend of $1.69 per share, equivalent to an annualized yield of about 2.8%.

Bryn Mawr Trust Advisors LLC reduced its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 13.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,803 shares of the technology company's stock after selling 7,691 shares during the quarter. Bryn Mawr Trust Advisors LLC's holdings in International Business Machines were worth $11,173,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in International Business Machines during the second quarter valued at $21,586,659,000. State Street Corp boosted its holdings in International Business Machines by 2.7% in the second quarter. State Street Corp now owns 56,045,055 shares of the technology company's stock worth $15,760,430,000 after acquiring an additional 1,450,562 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of International Business Machines in the second quarter worth $4,214,868,000. Bank of New York Mellon Corp purchased a new stake in shares of International Business Machines in the second quarter worth $2,606,782,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of International Business Machines by 0.7% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,621,512 shares of the technology company's stock valued at $2,143,245,000 after acquiring an additional 53,388 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on IBM. Citigroup lifted their price target on International Business Machines from $245.00 to $280.00 and gave the stock a "buy" rating in a research report on Thursday, October 22nd. Bank of America dropped their price target on shares of International Business Machines from $330.00 to $280.00 and set a "buy" rating on the stock in a research note on Wednesday, July 15th. Stifel Nicolaus increased their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the company a "buy" rating in a research report on Thursday, October 22nd. Sanford C. Bernstein reduced their price objective on shares of International Business Machines from $280.00 to $230.00 and set a "market perform" rating for the company in a research note on Thursday, July 23rd. Finally, Truist Financial set a $260.00 target price on shares of International Business Machines in a report on Thursday, October 22nd. Nineteen investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $266.88.

International Business Machines Stock Down 0.1%

IBM opened at $244.71 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 1.57. The firm has a 50 day moving average price of $236.76 and a 200-day moving average price of $248.64. International Business Machines Corporation has a twelve month low of $199.19 and a twelve month high of $332.46. The stock has a market capitalization of $231.28 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 2.41 and a beta of 0.78.

International Business Machines (NYSE:IBM - Get Free Report) last issued its earnings results on Wednesday, October 21st. The technology company reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.10. International Business Machines had a net margin of 15.99% and a return on equity of 34.37%. The company had revenue of $17.10 billion for the quarter, compared to analysts' expectations of $16.82 billion. During the same quarter last year, the company posted $2.65 earnings per share. The firm's quarterly revenue was up 4.7% on a year-over-year basis. Equities research analysts forecast that International Business Machines Corporation will post 12.41 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Tuesday, November 10th will be paid a dividend of $1.69 per share. The ex-dividend date is Tuesday, November 10th. This represents a $6.76 dividend on an annualized basis and a yield of 2.8%. International Business Machines's payout ratio is currently 57.63%.

Insider Buying and Selling at International Business Machines

In other news, SVP Robert Thomas sold 25,000 shares of the stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $230.32, for a total transaction of $5,758,000.00. Following the transaction, the senior vice president directly owned 47,800 shares of the company's stock, valued at $11,009,296. This represents a 34.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.27% of the stock is owned by insiders.

More International Business Machines News

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

• Positive Sentiment: Evercore’s sum-of-the-parts analysis values IBM at $290 a share, above its $275 price target, suggesting the firm sees potential value in IBM’s businesses, including quantum computing. IBM Stock Could Be More Than a ‘Safe Haven.' Quantum Computing Is a Big Reason
• Positive Sentiment: IBM’s Quantum System Two is now operational at the University of Chicago, expanding its quantum-computing presence and partnerships in Illinois. The installation strengthens IBM’s research and commercialization ecosystem, though financial returns are likely longer term. IBM Unveils Its Most Advanced Quantum Computer in Chicago
• Positive Sentiment: IBM, AMD and Oak Ridge National Laboratory launched a platform combining quantum and high-performance computing to advance quantum error correction, supporting IBM’s technology roadmap. The initiative targets progress toward a scientifically relevant quantum computer by 2028. Oak Ridge National Laboratory, IBM, and AMD Launch New Co-Design Platform for Quantum Error Correction
• Neutral Sentiment: A recent valuation commentary questions whether IBM’s cash-flow outlook supports the stock’s longer-term share-price gains. The excerpt does not provide a firm valuation conclusion, but it highlights investor scrutiny of the company’s price relative to future cash generation. IBM Stock Could Trade At A Discount After Quantum Computing News

About International Business Machines

International Business Machines Corporation (IBM) is a global technology company that provides software, consulting, infrastructure and related services to businesses and public-sector organizations. Its offerings include hybrid cloud and artificial intelligence solutions, enterprise software, IT consulting, and systems such as IBM Z mainframes and Power servers.

IBM also develops technologies in areas including data management, automation, cybersecurity and quantum computing. Its consulting teams help clients design, build and manage technology systems and business processes.

The company traces its roots to the Computing-Tabulating-Recording Company, formed in 1911, and adopted the name International Business Machines in 1924.

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