Courier Capital LLC Sells 5,332 Shares of International Business Machines Corporation $IBM

Key Points

• Courier Capital LLC reduced its holdings in International Business Machines Corporation (IBM) by 13.8%, selling 5,332 shares, resulting in a total ownership of 33,386 shares valued at $9.84 million.
• Several hedge funds, including Brighton Jones LLC and Wealth Enhancement Advisory Services LLC, have increased their positions in IBM, indicating growing institutional interest.
• IBM's latest quarterly earnings surpassed analysts' expectations, reporting $2.80 EPS and a revenue of $16.98 billion, reflecting a year-over-year revenue increase of 7.7%.

Courier Capital LLC decreased its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 13.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 33,386 shares of the technology company's stock after selling 5,332 shares during the period. Courier Capital LLC's holdings in International Business Machines were worth $9,842,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Brighton Jones LLC grew its position in International Business Machines by 12.4% during the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock worth $4,619,000 after acquiring an additional 2,323 shares during the last quarter. GAMMA Investing LLC grew its position in International Business Machines by 19.3% during the 1st quarter. GAMMA Investing LLC now owns 17,694 shares of the technology company's stock worth $4,400,000 after acquiring an additional 2,862 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in International Business Machines by 27.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,158,366 shares of the technology company's stock worth $288,039,000 after acquiring an additional 250,283 shares during the last quarter. Dohj LLC bought a new stake in International Business Machines during the 1st quarter worth $225,000. Finally, Ritholtz Wealth Management grew its position in International Business Machines by 20.1% during the 1st quarter. Ritholtz Wealth Management now owns 14,115 shares of the technology company's stock worth $3,510,000 after acquiring an additional 2,362 shares during the last quarter. Institutional investors own 58.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on IBM. Bank of America reduced their price objective on International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a research report on Thursday, July 24th. Stifel Nicolaus upped their price target on International Business Machines from $290.00 to $310.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Sanford C. Bernstein began coverage on International Business Machines in a research report on Monday, September 15th. They issued a "market perform" rating and a $280.00 price target on the stock. Weiss Ratings reiterated a "hold (c+)" rating on shares of International Business Machines in a research report on Wednesday, October 8th. Finally, Erste Group Bank downgraded International Business Machines from a "buy" rating to a "hold" rating in a research note on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $284.62.

International Business Machines Stock Performance

Shares of IBM opened at $277.21 on Tuesday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. The stock has a 50 day moving average price of $258.69 and a two-hundred day moving average price of $261.01. The firm has a market capitalization of $257.64 billion, a P/E ratio of 45.00, a P/E/G ratio of 4.28 and a beta of 0.73. International Business Machines Corporation has a 52 week low of $203.51 and a 52 week high of $301.04.

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

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were issued a $1.68 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $6.72 annualized dividend and a dividend yield of 2.4%. International Business Machines's dividend payout ratio is currently 109.09%.

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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