Dover Advisors LLC Lowers Position in International Business Machines Corporation $IBM

Key Points

• Dover Advisors LLC reduced its stake in International Business Machines Corporation (IBM) by 20.5%, now holding 7,714 shares valued at approximately $2.27 million.
• Various institutional investors have made significant changes to their holdings in IBM, with GAMMA Investing LLC increasing its position by an astonishing 29,564.2% earlier this year.
• IBM's stock price is currently at $253.46, with a P/E ratio of 41.15 and a recent quarterly earnings report showing earnings per share of $2.80, surpassing estimates.

Dover Advisors LLC cut its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 20.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,714 shares of the technology company's stock after selling 1,991 shares during the quarter. International Business Machines makes up about 1.0% of Dover Advisors LLC's investment portfolio, making the stock its 26th largest position. Dover Advisors LLC's holdings in International Business Machines were worth $2,274,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of IBM. GAMMA Investing LLC increased its position in shares of International Business Machines by 29,564.2% during the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock valued at $10,940,520,000 after purchasing an additional 4,384,958 shares during the last quarter. GQG Partners LLC bought a new position in International Business Machines during the 1st quarter worth approximately $1,040,057,000. Nuveen LLC bought a new position in International Business Machines during the 1st quarter worth approximately $960,386,000. Vanguard Group Inc. grew its position in International Business Machines by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 93,137,767 shares of the technology company's stock worth $23,159,637,000 after acquiring an additional 1,298,515 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in International Business Machines by 41.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,164,987 shares of the technology company's stock worth $787,007,000 after acquiring an additional 930,448 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Down 1.4%

IBM stock opened at $253.46 on Monday. International Business Machines Corporation has a 1-year low of $203.51 and a 1-year high of $296.16. The business has a fifty day moving average price of $257.59 and a 200-day moving average price of $256.96. 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 stock has a market capitalization of $235.57 billion, a P/E ratio of 41.15, a P/E/G ratio of 3.90 and a beta of 0.71.

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 the consensus estimate of $2.65 by $0.15. The firm had revenue of $16.98 billion during the quarter, compared to analysts' expectations 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 was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.43 earnings per share. 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 Dividend Announcement

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

Analysts Set New Price Targets

IBM has been the topic of several recent research reports. The Goldman Sachs Group raised their price target on International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. increased their price objective on International Business Machines from $244.00 to $290.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Erste Group Bank cut International Business Machines from a "buy" rating to a "hold" rating in a research note on Thursday, August 14th. Stifel Nicolaus raised their target price on International Business Machines from $290.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Finally, UBS Group raised their target price on International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $270.67.

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.

Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Corporation (NYSE:IBM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.