Fifth Third Bancorp Sells 5,238 Shares of International Business Machines Corporation $IBM

Key Points

• Fifth Third Bancorp reduced its stake in International Business Machines Corporation (IBM) by 3.1%, selling 5,238 shares to hold a total of 162,375 shares, valued at approximately $47.87 million.
• Recent analyst reports have upgraded IBM's stock, with BMO Capital Markets increasing their price target from $260.00 to $300.00 and Goldman Sachs raising theirs from $270.00 to $310.00, indicating a positive outlook.
• IBM declared a quarterly dividend of $1.68 per share, representing a yield of 2.5%, despite a dividend payout ratio that exceeds 100%.

Fifth Third Bancorp decreased its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 3.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 162,375 shares of the technology company's stock after selling 5,238 shares during the period. Fifth Third Bancorp's holdings in International Business Machines were worth $47,865,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Droms Strauss Advisors Inc. MO ADV bought a new stake in shares of International Business Machines in the 2nd quarter valued at approximately $239,000. BNC Wealth Management LLC purchased a new stake in International Business Machines during the 2nd quarter valued at $227,000. Retirement Income Solutions Inc lifted its position in International Business Machines by 4.1% in the second quarter. Retirement Income Solutions Inc now owns 2,490 shares of the technology company's stock worth $734,000 after buying an additional 99 shares during the last quarter. Hidden Cove Wealth Management LLC boosted its stake in International Business Machines by 9.9% during the second quarter. Hidden Cove Wealth Management LLC now owns 910 shares of the technology company's stock worth $268,000 after buying an additional 82 shares during the period. Finally, Kelly Financial Group LLC bought a new position in International Business Machines during the second quarter valued at $207,000. 58.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IBM has been the subject of several analyst reports. Melius Research upgraded shares of International Business Machines to a "strong-buy" rating in a report on Monday, July 7th. Sanford C. Bernstein initiated coverage on International Business Machines in a report on Monday, September 15th. They set a "market perform" rating and a $280.00 price objective for the company. BMO Capital Markets increased their price target on International Business Machines from $260.00 to $300.00 and gave the stock a "market perform" rating in a research report on Friday, July 18th. The Goldman Sachs Group upped their target price on International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Finally, Wedbush upped their price objective on International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, International Business Machines currently has an average rating of "Hold" and a consensus target price of $275.00.

International Business Machines Price Performance

NYSE IBM opened at $267.77 on Thursday. The company has a market cap of $248.87 billion, a price-to-earnings ratio of 43.47, a PEG ratio of 4.19 and a beta of 0.71. 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's fifty day moving average price is $254.10 and its 200 day moving average price is $257.55. International Business Machines Corporation has a 1 year low of $203.51 and a 1 year high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, beating analysts' consensus estimates of $2.65 by $0.15. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.The firm had revenue of $16.98 billion for the quarter, compared to analyst estimates of $16.58 billion. During the same quarter in the prior year, the firm earned $2.43 earnings per share. International Business Machines's revenue for the quarter was up 7.7% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current 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 given a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Friday, August 8th. International Business Machines's dividend payout ratio (DPR) is currently 109.09%.

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.

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