First Manhattan CO. LLC. Has $26.72 Million Position in International Business Machines Corporation $IBM

Key Points

• First Manhattan CO. LLC. reduced its stake in IBM by 2.7%, now holding 107,462 shares valued at approximately $26.7 million.
• Other institutional investors, including GAMMA Investing LLC and Vanguard Group Inc., significantly increased their positions in IBM during the first quarter.
• IBM reported an EPS of $2.80 for its last quarter, exceeding analyst expectations, with a revenue of $16.98 billion, up 7.7% year-over-year.

First Manhattan CO. LLC. trimmed its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 2.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 107,462 shares of the technology company's stock after selling 2,964 shares during the quarter. First Manhattan CO. LLC.'s holdings in International Business Machines were worth $26,722,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of International Business Machines by 12.4% during the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock valued at $4,619,000 after purchasing an additional 2,323 shares in the last quarter. Accredited Wealth Management LLC acquired a new position in International Business Machines during the fourth quarter worth about $81,000. Aptus Capital Advisors LLC grew its holdings in International Business Machines by 100.9% during the fourth quarter. Aptus Capital Advisors LLC now owns 30,149 shares of the technology company's stock worth $6,628,000 after acquiring an additional 15,143 shares during the period. Ancora Advisors LLC grew its holdings in International Business Machines by 15.5% during the fourth quarter. Ancora Advisors LLC now owns 6,839 shares of the technology company's stock worth $1,503,000 after acquiring an additional 916 shares during the period. Finally, Benjamin Edwards Inc. grew its holdings in International Business Machines by 5.0% during the fourth quarter. Benjamin Edwards Inc. now owns 96,780 shares of the technology company's stock worth $21,278,000 after acquiring an additional 4,635 shares during the period. 58.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on IBM. UBS Group lifted their target price on International Business Machines from $195.00 to $200.00 and gave the stock a "sell" rating in a report on Thursday, July 24th. Melius Research raised International Business Machines to a "strong-buy" rating in a research note on Monday, July 7th. Bank of America dropped their price target 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. Wedbush lifted their price target 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. Finally, Royal Bank Of Canada lifted their price target on International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, International Business Machines presently has an average rating of "Hold" and an average target price of $268.75.

International Business Machines Stock Performance

IBM traded down $2.08 on Tuesday, hitting $241.41. The company had a trading volume of 3,467,185 shares, compared to its average volume of 4,499,669. 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 company's fifty day moving average price is $263.75 and its 200 day moving average price is $257.40. The stock has a market cap of $224.37 billion, a price-to-earnings ratio of 39.19, a price-to-earnings-growth ratio of 3.75 and a beta of 0.71. International Business Machines Corporation has a 1-year low of $199.34 and a 1-year high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.65 by $0.15. The company had revenue of $16.98 billion for the quarter, compared to the consensus estimate of $16.58 billion. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.The company's revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.43 EPS. International Business Machines has set its FY 2025 guidance at EPS. Equities analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th will be given a dividend of $1.68 per share. The ex-dividend date is Friday, August 8th. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.8%. International Business Machines's payout ratio is currently 109.09%.

International Business Machines Company 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.