Congress Park Capital LLC Reduces Holdings in International Business Machines Corporation $IBM

Key Points

• Congress Park Capital LLC reduced its stake in International Business Machines Corporation (IBM) by 28.1%, owning 2,563 shares after selling 1,000 shares in the second quarter, valuing its holdings at $756,000.
• IBM recently reported $2.80 earnings per share for the quarter, beating the consensus estimate and showing a 7.7% year-over-year revenue increase, reaching $16.98 billion.
• The company declared a quarterly dividend of $1.68, resulting in an annualized yield of 2.5%, despite a dividend payout ratio exceeding 100%.

Congress Park Capital LLC cut its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 28.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,563 shares of the technology company's stock after selling 1,000 shares during the period. Congress Park Capital LLC's holdings in International Business Machines were worth $756,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in IBM. Quantum Financial Advisors LLC increased its position in shares of International Business Machines by 2.0% during the second quarter. Quantum Financial Advisors LLC now owns 2,551 shares of the technology company's stock worth $752,000 after purchasing an additional 51 shares in the last quarter. Ullmann Wealth Partners Group LLC grew its stake in International Business Machines by 3.1% during the 2nd quarter. Ullmann Wealth Partners Group LLC now owns 6,009 shares of the technology company's stock worth $1,771,000 after buying an additional 181 shares during the last quarter. Coastwise Capital Group LLC grew its stake in International Business Machines by 5.4% during the 2nd quarter. Coastwise Capital Group LLC now owns 1,533 shares of the technology company's stock worth $452,000 after buying an additional 78 shares during the last quarter. Orrstown Financial Services Inc. acquired a new position in International Business Machines during the second quarter worth approximately $264,000. Finally, Hilltop Wealth Advisors LLC boosted its holdings in shares of International Business Machines by 3.2% in the second quarter. Hilltop Wealth Advisors LLC now owns 10,656 shares of the technology company's stock valued at $3,141,000 after acquiring an additional 335 shares during the period. Hedge funds and other institutional investors own 58.96% of the company's stock.

International Business Machines Price Performance

NYSE IBM opened at $267.19 on Friday. International Business Machines Corporation has a 12 month low of $203.51 and a 12 month high of $296.16. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87. The company's 50 day simple moving average is $254.82 and its 200 day simple moving average is $257.25. The firm has a market capitalization of $248.33 billion, a PE ratio of 43.38, a P/E/G ratio of 4.10 and a beta of 0.71.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $16.98 billion during the quarter, compared to analyst estimates of $16.58 billion. During the same quarter in the prior year, the firm posted $2.43 earnings per share. The company's 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 forecast that International Business Machines Corporation will post 10.78 EPS 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 given a $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Friday, August 8th. International Business Machines's dividend payout ratio is 109.09%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Erste Group Bank lowered shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Thursday, August 14th. Melius Research upgraded shares of International Business Machines to a "strong-buy" rating in a research report on Monday, July 7th. Bank of America lowered their target price on shares of International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a report on Thursday, July 24th. Sanford C. Bernstein began coverage on shares of International Business Machines in a research note on Monday, September 15th. They set a "market perform" rating and a $280.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their price objective on shares of International Business Machines from $244.00 to $290.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, International Business Machines has an average rating of "Hold" and an average target price of $275.00.

International Business Machines Company Profile

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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