Empowered Funds LLC Trims Stock Holdings in International Business Machines Corporation $IBM

Key Points

• Empowered Funds LLC reduced its stake in International Business Machines Corporation (IBM) by 6.1%, selling 3,365 shares to hold a total of 51,883 shares valued at approximately $12.9 million.
• Several analysts raised their target prices for IBM, with Goldman Sachs increasing its target from $270 to $310, and Royal Bank Of Canada from $285 to $315, indicating a positive outlook for the company's stock.
• IBM reported a quarterly earnings beat with $2.80 earnings per share against a consensus estimate of $2.65, and its revenue increased by 7.7% year-over-year, reaching $16.98 billion.

Empowered Funds LLC reduced its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 6.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 51,883 shares of the technology company's stock after selling 3,365 shares during the period. Empowered Funds LLC's holdings in International Business Machines were worth $12,901,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Christopher J. Hasenberg Inc acquired a new position in International Business Machines in the 1st quarter valued at about $27,000. SSA Swiss Advisors AG acquired a new position in International Business Machines in the 1st quarter valued at about $28,000. Dagco Inc. acquired a new position in International Business Machines in the 1st quarter valued at about $31,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in International Business Machines in the 1st quarter valued at about $45,000. Finally, Park Square Financial Group LLC acquired a new position in International Business Machines in the 4th quarter valued at about $43,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. BMO Capital Markets lifted their target price on International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a research report on Friday, July 18th. JPMorgan Chase & Co. upped their target price on shares of International Business Machines from $244.00 to $290.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Melius Research upgraded shares of International Business Machines to a "strong-buy" rating in a research note on Monday, July 7th. The Goldman Sachs Group upped their target price on shares of International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Finally, Royal Bank Of Canada upped their target price on shares of International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, International Business Machines presently has an average rating of "Hold" and a consensus price target of $268.75.

International Business Machines Stock Performance

Shares of IBM opened at $256.20 on Tuesday. The stock has a 50 day moving average price of $260.31 and a 200 day moving average price of $256.97. 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 company has a market capitalization of $238.11 billion, a price-to-earnings ratio of 41.59, a price-to-earnings-growth ratio of 3.83 and a beta of 0.71. International Business Machines Corporation has a 52-week low of $201.43 and a 52-week high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 37.62% and a net margin of 9.11%.The company's revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.43 earnings per share. International Business Machines has set its FY 2025 guidance at EPS. Research analysts predict that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed 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 2.6%. The ex-dividend date of this dividend is Friday, August 8th. International Business Machines's dividend payout ratio is presently 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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