Burney Co. Has $3.65 Million Position in International Business Machines Corporation $IBM

Key Points

• Burney Co. reduced its stake in IBM by 16.4% in the first quarter, selling 2,946 shares and leaving it with 15,064 shares valued at about $3.65 million.
• IBM reported better-than-expected quarterly results, with EPS of $1.91 versus $1.81 expected and revenue of $15.92 billion, up 9.5% year over year.
• The company also raised its quarterly dividend to $1.69 per share, and analysts remain generally positive, with several firms lifting price targets and a consensus rating of Moderate Buy.

Burney Co. cut its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 16.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,064 shares of the technology company's stock after selling 2,946 shares during the quarter. Burney Co.'s holdings in International Business Machines were worth $3,651,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. CVA Family Office LLC grew its stake in International Business Machines by 1.4% in the fourth quarter. CVA Family Office LLC now owns 2,389 shares of the technology company's stock valued at $708,000 after purchasing an additional 33 shares in the last quarter. Foster Group Inc. lifted its holdings in shares of International Business Machines by 1.3% during the 4th quarter. Foster Group Inc. now owns 2,507 shares of the technology company's stock valued at $742,000 after buying an additional 33 shares during the last quarter. New Covenant Trust Company N.A. grew its stake in shares of International Business Machines by 3.8% in the 4th quarter. New Covenant Trust Company N.A. now owns 905 shares of the technology company's stock valued at $264,000 after buying an additional 33 shares in the last quarter. McGowan Group Asset Management Inc. raised its position in International Business Machines by 1.2% during the fourth quarter. McGowan Group Asset Management Inc. now owns 2,693 shares of the technology company's stock valued at $798,000 after acquiring an additional 33 shares in the last quarter. Finally, Sandbox Financial Partners LLC lifted its stake in International Business Machines by 0.4% in the fourth quarter. Sandbox Financial Partners LLC now owns 8,969 shares of the technology company's stock valued at $2,657,000 after acquiring an additional 34 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Price Performance

NYSE IBM opened at $305.98 on Wednesday. International Business Machines Corporation has a 1 year low of $212.34 and a 1 year high of $332.46. The company has a fifty day simple moving average of $259.83 and a 200 day simple moving average of $266.05. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75. The company has a market cap of $287.59 billion, a P/E ratio of 27.05, a P/E/G ratio of 3.09 and a beta of 0.68.

International Business Machines (NYSE:IBM - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The technology company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.81 by $0.10. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The firm had revenue of $15.92 billion for the quarter, compared to the consensus estimate of $15.60 billion. During the same quarter last year, the firm posted $1.60 EPS. The business's quarterly revenue was up 9.5% on a year-over-year basis. On average, sell-side analysts predict that International Business Machines Corporation will post 12.45 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th were issued a $1.69 dividend. This is an increase from International Business Machines's previous quarterly dividend of $1.68. The ex-dividend date of this dividend was Friday, May 8th. This represents a $6.76 dividend on an annualized basis and a yield of 2.2%. International Business Machines's payout ratio is 59.77%.

International Business Machines News Roundup

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

• Positive Sentiment: IBM launched new z17 and LinuxONE 5 configurations, including rack-mount and single-frame options, aimed at easing data-center space and cost constraints while strengthening its mainframe and enterprise infrastructure offering. IBM Launches Compact z17 and LinuxONE Systems to Address Data Center Space and Cost Constraints
• Positive Sentiment: Bank of America raised its price target on IBM to $330 and kept a buy rating, citing software strength, Red Hat momentum, infrastructure support, and the possibility of a modest guidance boost later this year. IBM Stock Jumps as BofA Securities Flags Strong Q2, Potential 2026 Guidance Hike
• Positive Sentiment: IBM also got a lift from quantum-computing headlines, including new research with Oak Ridge National Lab and Cleveland Clinic that achieved first-known computations of fusion materials on a quantum computer, reinforcing IBM’s AI/quantum leadership narrative. Oak Ridge National Lab, Cleveland Clinic, and IBM Achieve First-Known Computations of Fusion Materials on a Quantum Computer
• Neutral Sentiment: IBM remained in focus as a Dow component benefiting from broader market strength, with multiple articles noting the stock’s continued rally and investor attention ahead of the July 22 earnings report.

Analysts Set New Price Targets

Several research analysts have recently commented on IBM shares. Roth Capital restated a "buy" rating on shares of International Business Machines in a research note on Wednesday, June 3rd. Barclays assumed coverage on shares of International Business Machines in a report on Monday, June 1st. They issued an "overweight" rating and a $350.00 price objective for the company. KeyCorp downgraded shares of International Business Machines to a "sector weight" rating in a research report on Tuesday, June 23rd. Piper Sandler upgraded International Business Machines to an "overweight" rating in a report on Tuesday, June 23rd. Finally, Citigroup boosted their price target on International Business Machines from $285.00 to $375.00 and gave the stock a "buy" rating in a research report on Tuesday, June 2nd. Sixteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $306.47.

International Business Machines Company 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.

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