DnB Asset Management AS Sells 73,308 Shares of International Business Machines Corporation $IBM

Key Points

• DnB Asset Management AS reduced its stake in International Business Machines Corporation (IBM) by 27.5%, holding 192,790 shares valued at approximately $47.94 million.
• IBM reported earnings of $2.80 per share for the recent quarter, exceeding expectations, with revenue of $16.98 billion, a 7.7% increase year-over-year.
• The company's dividend of $1.68 per share will be paid on September 10th, reflecting a 2.8% yield with a high dividend payout ratio of 109.09%.

DnB Asset Management AS cut its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 27.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 192,790 shares of the technology company's stock after selling 73,308 shares during the quarter. DnB Asset Management AS's holdings in International Business Machines were worth $47,939,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of IBM. Edmond DE Rothschild Holding S.A. lifted its position in shares of International Business Machines by 61.8% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 58,781 shares of the technology company's stock worth $14,616,000 after acquiring an additional 22,452 shares during the period. Clark Capital Management Group Inc. boosted its position in shares of International Business Machines by 7.7% during the 1st quarter. Clark Capital Management Group Inc. now owns 7,068 shares of the technology company's stock valued at $1,758,000 after acquiring an additional 505 shares in the last quarter. Curi RMB Capital LLC boosted its position in shares of International Business Machines by 27.5% during the 1st quarter. Curi RMB Capital LLC now owns 79,290 shares of the technology company's stock valued at $19,716,000 after acquiring an additional 17,107 shares in the last quarter. Bosun Asset Management LLC boosted its position in shares of International Business Machines by 3.5% during the 1st quarter. Bosun Asset Management LLC now owns 3,124 shares of the technology company's stock valued at $777,000 after acquiring an additional 105 shares in the last quarter. Finally, Banque Transatlantique SA boosted its position in shares of International Business Machines by 1,100.1% during the 1st quarter. Banque Transatlantique SA now owns 99,881 shares of the technology company's stock valued at $22,952,000 after acquiring an additional 91,558 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Price Performance

Shares of NYSE IBM traded up $1.29 during trading on Friday, reaching $248.47. The company had a trading volume of 3,144,657 shares, compared to its average volume of 4,281,239. International Business Machines Corporation has a 52 week low of $199.34 and a 52 week high of $296.16. The stock has a market cap of $230.93 billion, a PE ratio of 40.34, a PEG ratio of 3.81 and a beta of 0.71. 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 business's 50 day moving average price is $261.07 and its 200-day moving average price is $257.11.

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

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th will be issued a $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, August 8th. International Business Machines's dividend payout ratio is 109.09%.

Wall Street Analyst Weigh In

IBM has been the topic of several recent research reports. Citigroup reiterated an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. JPMorgan Chase & Co. lifted their target price on shares of International Business Machines from $244.00 to $290.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Wedbush lifted their target price on shares of International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a research report on Friday, June 20th. Melius Research upgraded shares of International Business Machines to a "strong-buy" rating in a research report on Monday, July 7th. Finally, Stifel Nicolaus lifted their target price on shares of International Business Machines from $290.00 to $310.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, International Business Machines has an average rating of "Hold" and a consensus target price of $268.75.

International Business Machines 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.