Logan Capital Management Inc. Sells 46,659 Shares of International Business Machines Corporation $IBM

Key Points

• Logan Capital Management Inc. reduced its holdings in IBM by 39% during the first quarter, now owning 72,962 shares valued at $18.14 million.
• Several analysts have upgraded their price targets for IBM, with BMO Capital Markets raising it from $260 to $300 and Stifel Nicolaus increasing it from $290 to $310.
• IBM recently declared a quarterly dividend of $1.68 per share, reflecting a 2.6% yield, with a payout ratio of 109.09%.

Logan Capital Management Inc. trimmed its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 39.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,962 shares of the technology company's stock after selling 46,659 shares during the period. Logan Capital Management Inc.'s holdings in International Business Machines were worth $18,143,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in IBM. GAMMA Investing LLC grew its position in International Business Machines by 29,564.2% in the first quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock worth $10,940,520,000 after acquiring an additional 4,384,958 shares in the last quarter. GQG Partners LLC purchased a new position in International Business Machines in the first quarter worth $1,040,057,000. Nuveen LLC purchased a new position in International Business Machines in the first quarter worth $960,386,000. Vanguard Group Inc. grew its position in International Business Machines by 1.4% in the first quarter. Vanguard Group Inc. now owns 93,137,767 shares of the technology company's stock worth $23,159,637,000 after acquiring an additional 1,298,515 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in International Business Machines by 41.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,164,987 shares of the technology company's stock worth $787,007,000 after acquiring an additional 930,448 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IBM. Stifel Nicolaus raised their price objective on International Business Machines from $290.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Bank of America reduced 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. UBS Group raised their price objective on International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a research note on Thursday, July 24th. Wedbush increased their target price on shares of International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. Finally, Wall Street Zen upgraded shares of International Business Machines from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, International Business Machines presently has an average rating of "Hold" and a consensus price target of $270.67.

International Business Machines Stock Down 1.6%

IBM traded down $3.99 on Friday, hitting $253.02. The company had a trading volume of 2,193,547 shares, compared to its average volume of 4,666,641. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87. International Business Machines Corporation has a 52-week low of $203.51 and a 52-week high of $296.16. The stock has a fifty day simple moving average of $258.35 and a 200-day simple moving average of $256.95. The firm has a market capitalization of $235.15 billion, a P/E ratio of 41.02, a P/E/G ratio of 3.96 and a beta of 0.71.

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

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were paid a dividend of $1.68 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.7%. International Business Machines's dividend payout ratio (DPR) is currently 109.09%.

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.