Gateway Investment Advisers LLC Sells 93,103 Shares of International Business Machines Corporation $IBM

Gateway Investment Advisers LLC lowered its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 91.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,858 shares of the technology company's stock after selling 93,103 shares during the quarter. Gateway Investment Advisers LLC's holdings in International Business Machines were worth $2,491,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in shares of International Business Machines by 12.4% in the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock worth $4,619,000 after buying an additional 2,323 shares in the last quarter. Sivia Capital Partners LLC grew its holdings in International Business Machines by 10.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,938 shares of the technology company's stock valued at $571,000 after buying an additional 186 shares in the last quarter. Jump Financial LLC purchased a new position in International Business Machines during the 2nd quarter valued at approximately $211,000. Ieq Capital LLC increased its stake in International Business Machines by 2.2% in the 2nd quarter. Ieq Capital LLC now owns 38,617 shares of the technology company's stock worth $11,383,000 after acquiring an additional 843 shares during the last quarter. Finally, Vivaldi Capital Management LP increased its stake in International Business Machines by 11.6% in the 2nd quarter. Vivaldi Capital Management LP now owns 1,017 shares of the technology company's stock worth $300,000 after acquiring an additional 106 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on IBM shares. HSBC set a $175.00 target price on International Business Machines and gave the company a "reduce" rating in a research report on Thursday, July 16th. Piper Sandler upgraded shares of International Business Machines to an "overweight" rating in a research report on Tuesday, June 23rd. Roth Capital reaffirmed a "buy" rating on shares of International Business Machines in a research note on Wednesday, June 3rd. Barclays lowered their price objective on shares of International Business Machines from $288.00 to $262.00 and set an "overweight" rating for the company in a research report on Thursday, July 23rd. Finally, Needham & Company LLC assumed coverage on shares of International Business Machines in a research note on Wednesday, June 3rd. They issued a "buy" rating for the company. Sixteen investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $265.40.

International Business Machines Price Performance

NYSE:IBM opened at $237.31 on Thursday. The firm has a market capitalization of $223.57 billion, a price-to-earnings ratio of 21.06, a PEG ratio of 2.28 and a beta of 0.70. International Business Machines Corporation has a 1 year low of $199.19 and a 1 year high of $332.46. The business has a 50 day simple moving average of $248.73 and a 200-day simple moving average of $251.49. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.79 and a quick ratio of 0.74.

International Business Machines (NYSE:IBM - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The technology company reported $2.93 EPS for the quarter, hitting analysts' consensus estimates of $2.93. The firm had revenue of $17.16 billion during the quarter, compared to analysts' expectations of $17.46 billion. International Business Machines had a return on equity of 35.65% and a net margin of 15.52%.The company's quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.80 EPS. Equities analysts forecast that International Business Machines Corporation will post 12.33 EPS for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 10th will be paid a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Monday, August 10th. International Business Machines's payout ratio is presently 59.98%.

Key Stories Impacting International Business Machines

Here are the key news stories impacting International Business Machines this week:

• Positive Sentiment: IBM successfully connected and cooled two modular cryogenic systems to below 15 millikelvin, creating an architecture intended to link hundreds of quantum chips. The milestone supports IBM’s roadmap toward a 1,000-qubit system by 2027 and the planned fault-tolerant Quantum Starling system in 2029. IBM Connects Its First Modular Cryogenic Systems in Milestone Toward Fault-Tolerant Quantum Computing
• Positive Sentiment: The quantum advance is being viewed as a meaningful engineering step toward fault-tolerant computing, helping support IBM’s differentiated position in quantum technology and contributing to the upward movement in IBM shares. IBM Clears Major Hardware Hurdle on the Path to Its Quantum Supercomputer
• Positive Sentiment: IBM’s Maximo government software-as-a-service product received FedRAMP Moderate authorization, potentially expanding its addressable U.S. government market. Separate commissioned research also reported that Maximo users show higher maintenance maturity than industry peers, supporting the product’s enterprise value proposition. IBM Secures FedRAMP Moderate Authorization For Maximo Government SaaS
• Neutral Sentiment: Arrow Electronics expanded its IBM distribution coverage, which could improve channel reach and support sales growth, but the announcement provided no immediate financial targets. Arrow Electronics Expands IBM Distribution Coverage to Support Channel Growth
• Negative Sentiment: A law firm announced a securities-fraud investigation related to IBM’s prior stock decline. The notice is not an allegation finding or formal determination of wrongdoing, but it adds headline and potential litigation risk. IBM Investor Reminder Securities Fraud Investigation

International Business Machines Company Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM's principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.

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