Fortitude Family Office LLC Cuts Stock Position in International Business Machines Corporation $IBM

Key Points

• Fortitude Family Office LLC reduced its stake in International Business Machines Corporation (IBM) by 38.3%, now holding 1,743 shares valued at $514,000 as per its latest SEC filing.
• The technology company reported $2.80 earnings per share for its last quarter, surpassing analyst expectations of $2.65 and showing a 7.7% year-over-year revenue increase.
• IBM announced a quarterly dividend of $1.68 per share with an annualized yield of 2.5%, although its payout ratio stands at 109.09%.

Fortitude Family Office LLC decreased its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 38.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,743 shares of the technology company's stock after selling 1,080 shares during the quarter. Fortitude Family Office LLC's holdings in International Business Machines were worth $514,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Lifestyle Asset Management Inc. raised its position in International Business Machines by 1.7% in the second quarter. Lifestyle Asset Management Inc. now owns 2,144 shares of the technology company's stock worth $632,000 after acquiring an additional 36 shares in the last quarter. Blue Edge Capital LLC increased its position in shares of International Business Machines by 0.6% in the first quarter. Blue Edge Capital LLC now owns 6,776 shares of the technology company's stock valued at $1,685,000 after buying an additional 39 shares in the last quarter. Tacita Capital Inc increased its position in shares of International Business Machines by 20.8% in the first quarter. Tacita Capital Inc now owns 232 shares of the technology company's stock valued at $58,000 after buying an additional 40 shares in the last quarter. Global Financial Private Client LLC increased its position in shares of International Business Machines by 0.4% in the second quarter. Global Financial Private Client LLC now owns 10,548 shares of the technology company's stock valued at $3,109,000 after buying an additional 41 shares in the last quarter. Finally, Pallas Capital Advisors LLC increased its position in shares of International Business Machines by 0.9% in the first quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company's stock valued at $1,195,000 after buying an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

International Business Machines Stock Up 2.1%

NYSE:IBM opened at $271.87 on Tuesday. The firm has a market capitalization of $252.67 billion, a price-to-earnings ratio of 44.13, a PEG ratio of 4.10 and a beta of 0.71. International Business Machines Corporation has a 1-year low of $203.51 and a 1-year high of $296.16. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00. The business's fifty day moving average price is $254.58 and its 200 day moving average price is $257.38.

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, beating the consensus estimate of $2.65 by $0.15. The firm had revenue of $16.98 billion for 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%.International Business Machines's quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.43 earnings per share. International Business Machines has set its FY 2025 guidance at EPS. On average, sell-side 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 company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were paid a $1.68 dividend. The ex-dividend date was Friday, August 8th. This represents a $6.72 dividend on an annualized basis and a yield of 2.5%. International Business Machines's payout ratio is 109.09%.

Analyst Ratings Changes

IBM has been the subject of a number of research analyst reports. Erste Group Bank cut International Business Machines from a "buy" rating to a "hold" rating in a research report on Thursday, August 14th. Bank of America decreased their price objective on International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a research note on Thursday, July 24th. Sanford C. Bernstein assumed coverage on International Business Machines in a research note on Monday, September 15th. They set a "market perform" rating and a $280.00 price objective on the stock. BMO Capital Markets increased their price objective on International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a research note on Friday, July 18th. Finally, The Goldman Sachs Group increased their price objective on International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, International Business Machines currently has a consensus rating of "Hold" and a consensus target price of $275.00.

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.

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