Freedom Investment Management Inc. Sells 872 Shares of International Business Machines Corporation $IBM

Key Points

• Freedom Investment Management Inc. sold 872 shares of IBM, reducing its stake by 8.5%, leaving it with 9,416 shares valued at $2.77 million.
• Several institutional investors, including Brighton Jones LLC and GAMMA Investing LLC, increased their stakes in IBM, indicating growing confidence in the company's prospects.
• IBM reported strong quarterly earnings, with an EPS of $2.65 and revenue of $16.33 billion, surpassing estimates, and declared a quarterly dividend of $1.68 per share.

Freedom Investment Management Inc. lowered its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 8.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,416 shares of the technology company's stock after selling 872 shares during the quarter. Freedom Investment Management Inc.'s holdings in International Business Machines were worth $2,776,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of IBM. Brighton Jones LLC increased its holdings in International Business Machines by 12.4% in the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock valued at $4,619,000 after buying an additional 2,323 shares during the period. GAMMA Investing LLC increased its holdings in International Business Machines by 19.3% in the 1st quarter. GAMMA Investing LLC now owns 17,694 shares of the technology company's stock valued at $4,400,000 after buying an additional 2,862 shares during the period. YHB Investment Advisors Inc. increased its holdings in International Business Machines by 3.4% in the 1st quarter. YHB Investment Advisors Inc. now owns 4,705 shares of the technology company's stock valued at $1,170,000 after buying an additional 156 shares during the period. Moran Wealth Management LLC increased its holdings in International Business Machines by 2.9% in the 1st quarter. Moran Wealth Management LLC now owns 19,501 shares of the technology company's stock valued at $4,849,000 after buying an additional 550 shares during the period. Finally, Archford Capital Strategies LLC increased its holdings in International Business Machines by 3.3% in the 1st quarter. Archford Capital Strategies LLC now owns 8,988 shares of the technology company's stock valued at $2,235,000 after buying an additional 289 shares during the period. Institutional investors own 58.96% of the company's stock.

Wall Street Analyst Weigh In

IBM has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on shares of International Business Machines from $253.00 to $256.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 15th. JPMorgan Chase & Co. boosted 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 note on Thursday, July 24th. Bank of America reduced their target price on shares of 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. UBS Group boosted their target price on shares of International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a research note on Thursday, July 24th. Finally, The Goldman Sachs Group boosted their target price on shares of 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, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $289.08.

International Business Machines Stock Up 2.0%

Shares of NYSE IBM opened at $287.57 on Thursday. The firm's 50-day simple moving average is $263.92 and its 200 day simple moving average is $262.56. The company has a market cap of $267.27 billion, a price-to-earnings ratio of 46.68, a price-to-earnings-growth ratio of 4.34 and a beta of 0.73. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. International Business Machines Corporation has a 12-month low of $203.51 and a 12-month high of $301.04.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, October 22nd. The technology company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.20. The business had revenue of $16.33 billion for the quarter, compared to the consensus estimate of $16.10 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The firm's quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.30 EPS. International Business Machines has set its FY 2025 guidance at EPS. On average, research analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Monday, November 10th will be given a dividend of $1.68 per share. The ex-dividend date is Monday, November 10th. This represents a $6.72 annualized dividend and a yield of 2.3%. International Business Machines's dividend payout ratio is 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.

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.