Core Wealth Advisors Inc. Sells 1,361 Shares of International Business Machines Corporation $IBM

Key Points

• Core Wealth Advisors Inc. has reduced its holdings in International Business Machines Corporation (IBM) by 15.4%, now owning 7,478 shares valued at approximately $1.86 million.
• Analysts have set mixed price targets for IBM, with estimates ranging from $200 to $325, reflecting varying opinions on the stock's potential.
• IBM recently reported earnings of $2.80 per share, exceeding expectations, alongside a quarterly dividend announcement of $1.68 to be paid on September 10th, representing a 2.8% yield.

Core Wealth Advisors Inc. lessened its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 15.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,478 shares of the technology company's stock after selling 1,361 shares during the quarter. International Business Machines makes up approximately 0.6% of Core Wealth Advisors Inc.'s investment portfolio, making the stock its 20th largest position. Core Wealth Advisors Inc.'s holdings in International Business Machines were worth $1,859,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Calton & Associates Inc. acquired a new stake in shares of International Business Machines in the first quarter valued at about $242,000. Saudi Central Bank bought a new stake in International Business Machines in the first quarter valued at approximately $91,000. Texas Bank & Trust Co increased its position in International Business Machines by 1.9% during the 1st quarter. Texas Bank & Trust Co now owns 7,442 shares of the technology company's stock valued at $1,851,000 after purchasing an additional 140 shares during the period. Connecticut Wealth Management LLC raised its holdings in International Business Machines by 8.1% during the 1st quarter. Connecticut Wealth Management LLC now owns 13,090 shares of the technology company's stock worth $3,255,000 after purchasing an additional 983 shares during the last quarter. Finally, Activest Wealth Management lifted its position in shares of International Business Machines by 74.1% in the 1st quarter. Activest Wealth Management now owns 444 shares of the technology company's stock worth $110,000 after purchasing an additional 189 shares during the period. 58.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. BMO Capital Markets increased their price objective on shares of International Business Machines from $260.00 to $300.00 and gave the stock a "market perform" rating in a research report on Friday, July 18th. Wall Street Zen upgraded International Business Machines from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Wedbush lifted their price objective on International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research report on Friday, June 20th. Erste Group Bank lowered International Business Machines from a "buy" rating to a "hold" rating in a research report on Thursday, August 14th. Finally, JPMorgan Chase & Co. lifted their target price on International Business Machines from $244.00 to $290.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, International Business Machines has a consensus rating of "Hold" and a consensus target price of $268.75.

International Business Machines Stock Down 0.9%

IBM stock traded down $2.08 during midday trading on Tuesday, reaching $241.41. 3,467,185 shares of the company's stock traded hands, compared to its average volume of 4,499,669. 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's fifty day moving average price is $263.75 and its 200-day moving average price is $257.40. International Business Machines Corporation has a 52 week low of $199.34 and a 52 week high of $296.16. The company has a market cap of $224.37 billion, a price-to-earnings ratio of 39.19, a P/E/G ratio of 3.75 and a beta of 0.71.

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

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th will be paid a $1.68 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $6.72 annualized dividend and a dividend yield of 2.8%. 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.