Counterpoint Mutual Funds LLC Sells 15,965 Shares of International Business Machines Corporation $IBM

Key Points

• Counterpoint Mutual Funds cut its IBM stake by 91.7% in the second quarter, selling 15,965 shares and retaining 1,450 shares worth approximately $408,000. Institutional investors collectively own 58.96% of IBM.
• IBM reported quarterly earnings of $2.93 per share, matching analyst expectations, while revenue of $17.16 billion fell short of the $17.46 billion consensus estimate. The company’s revenue increased 1.1% year over year.
• IBM declared a quarterly dividend of $1.69 per share, equivalent to an annualized $6.76 payout and a 2.8% yield. Analysts maintain a consensus “Moderate Buy” rating with a $265.40 target price, despite several recent target cuts.

Counterpoint Mutual Funds LLC trimmed its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 91.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,450 shares of the technology company's stock after selling 15,965 shares during the quarter. Counterpoint Mutual Funds LLC's holdings in International Business Machines were worth $408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. PFS Partners LLC boosted its stake in International Business Machines by 8.4% during the 2nd quarter. PFS Partners LLC now owns 1,886 shares of the technology company's stock valued at $530,000 after purchasing an additional 146 shares during the last quarter. Global Financial Private Client LLC grew its position in International Business Machines by 1.5% during the second quarter. Global Financial Private Client LLC now owns 10,677 shares of the technology company's stock valued at $3,003,000 after buying an additional 162 shares during the period. Thomasville National Bank bought a new stake in shares of International Business Machines in the 2nd quarter worth approximately $820,000. Ticino Wealth raised its stake in shares of International Business Machines by 1.1% in the second quarter. Ticino Wealth now owns 9,782 shares of the technology company's stock valued at $2,751,000 after buying an additional 107 shares during the period. Finally, Royal Fund Management LLC raised its stake in International Business Machines by 2.6% in the 2nd quarter. Royal Fund Management LLC now owns 44,510 shares of the technology company's stock valued at $12,517,000 after acquiring an additional 1,116 shares during the period. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Up 2.0%

Shares of IBM opened at $237.31 on Thursday. International Business Machines Corporation has a 1 year low of $199.19 and a 1 year high of $332.46. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.79 and a quick ratio of 0.74. The business's 50 day simple moving average is $248.73 and its 200-day simple moving average is $251.49. The stock has a market capitalization of $223.57 billion, a price-to-earnings ratio of 21.06, a price-to-earnings-growth ratio of 2.28 and a beta of 0.70.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The technology company reported $2.93 EPS for the quarter, meeting the consensus estimate of $2.93. The company had revenue of $17.16 billion for the quarter, compared to the consensus estimate of $17.46 billion. International Business Machines had a return on equity of 35.65% and a net margin of 15.52%.International Business Machines's quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.80 EPS. As a group, equities analysts expect that International Business Machines Corporation will post 12.33 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 10th will be paid a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Monday, August 10th. International Business Machines's dividend payout ratio (DPR) is 59.98%.

Key Stories Impacting International Business Machines

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

• Positive Sentiment: IBM successfully connected and cooled two modular cryogenic systems to below 15 millikelvin, creating an architecture intended to link hundreds of quantum chips. The milestone supports IBM’s roadmap toward a 1,000-qubit system by 2027 and the planned fault-tolerant Quantum Starling system in 2029. IBM Connects Its First Modular Cryogenic Systems in Milestone Toward Fault-Tolerant Quantum Computing
• Positive Sentiment: The quantum advance is being viewed as a meaningful engineering step toward fault-tolerant computing, helping support IBM’s differentiated position in quantum technology and contributing to the upward movement in IBM shares. IBM Clears Major Hardware Hurdle on the Path to Its Quantum Supercomputer
• Positive Sentiment: IBM’s Maximo government software-as-a-service product received FedRAMP Moderate authorization, potentially expanding its addressable U.S. government market. Separate commissioned research also reported that Maximo users show higher maintenance maturity than industry peers, supporting the product’s enterprise value proposition. IBM Secures FedRAMP Moderate Authorization For Maximo Government SaaS
• Neutral Sentiment: Arrow Electronics expanded its IBM distribution coverage, which could improve channel reach and support sales growth, but the announcement provided no immediate financial targets. Arrow Electronics Expands IBM Distribution Coverage to Support Channel Growth
• Negative Sentiment: A law firm announced a securities-fraud investigation related to IBM’s prior stock decline. The notice is not an allegation finding or formal determination of wrongdoing, but it adds headline and potential litigation risk. IBM Investor Reminder Securities Fraud Investigation

Wall Street Analyst Weigh In

Several research firms recently commented on IBM. KeyCorp cut International Business Machines to a "sector weight" rating in a research report on Tuesday, June 23rd. Stifel Nicolaus lowered their price target on shares of International Business Machines from $290.00 to $235.00 and set a "buy" rating for the company in a research note on Monday, July 20th. Wall Street Zen lowered International Business Machines from a "hold" rating to a "sell" rating in a research note on Saturday, July 18th. Jefferies Financial Group reduced their price target on International Business Machines from $320.00 to $260.00 and set a "buy" rating on the stock in a report on Tuesday, July 21st. Finally, Robert W. Baird started coverage on shares of International Business Machines in a research report on Tuesday, July 21st. They set a "neutral" rating and a $230.00 price objective on the stock. Sixteen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, International Business Machines presently has a consensus rating of "Moderate Buy" and a consensus target price of $265.40.

About International Business Machines

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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