International Business Machines Corporation $IBM Shares Sold by Chesley Taft & Associates LLC

Key Points

• Chesley Taft & Associates LLC reduced its stake in International Business Machines Corporation (IBM) by 6.8%, selling 1,385 shares during the second quarter, and now holds 19,113 shares valued at approximately $5.6 million.
• IBM recently reported quarterly earnings exceeding analysts' expectations, with $2.80 EPS and revenue of $16.98 billion, marking a 7.7% year-over-year revenue growth.
• The company announced a quarterly dividend of $1.68 per share, resulting in an annualized dividend of $6.72 and a yield of 2.6%, with a currently high dividend payout ratio of 109.09%.

Chesley Taft & Associates LLC lessened its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 6.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,113 shares of the technology company's stock after selling 1,385 shares during the period. Chesley Taft & Associates LLC's holdings in International Business Machines were worth $5,634,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of IBM. MinichMacGregor Wealth Management LLC bought a new stake in International Business Machines in the first quarter valued at $396,000. Brooklyn Investment Group increased its holdings in shares of International Business Machines by 32.7% in the 1st quarter. Brooklyn Investment Group now owns 6,622 shares of the technology company's stock worth $1,647,000 after acquiring an additional 1,630 shares during the period. Edgar Lomax Co. VA grew its position in International Business Machines by 5.7% in the 1st quarter. Edgar Lomax Co. VA now owns 235,967 shares of the technology company's stock worth $58,676,000 after purchasing an additional 12,690 shares during the last quarter. Left Brain Wealth Management LLC increased its stake in shares of International Business Machines by 1,547.8% in the first quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company's stock valued at $4,392,000 after purchasing an additional 16,592 shares during the period. Finally, Alpha Cubed Investments LLC raised its holdings in shares of International Business Machines by 47.0% during the first quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company's stock valued at $1,867,000 after buying an additional 2,399 shares during the last quarter. Institutional investors own 58.96% of the company's stock.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $257.45 on Wednesday. International Business Machines Corporation has a 12 month low of $203.51 and a 12 month high of $296.16. 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 stock has a market cap of $239.27 billion, a PE ratio of 41.79, a price-to-earnings-growth ratio of 3.95 and a beta of 0.71. The business has a fifty day simple moving average of $256.20 and a 200-day simple moving average of $256.99.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $16.58 billion. During the same period in the prior year, the business earned $2.43 EPS. The business'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. On average, sell-side analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were given 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 2.6%. International Business Machines's dividend payout ratio is presently 109.09%.

Analyst Ratings Changes

Several research firms recently commented on IBM. Sanford C. Bernstein assumed coverage on International Business Machines in a research report on Monday. They issued a "market perform" rating and a $280.00 target price on the stock. JPMorgan Chase & Co. upped their price objective on shares of International Business Machines from $244.00 to $290.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Bank of America lowered 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. Wedbush upped their price target on shares of International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. Finally, Erste Group Bank lowered shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $275.00.

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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