International Business Machines Corporation $IBM Shares Sold by Ridgewood Investments LLC

Key Points

• Ridgewood Investments LLC significantly reduced its stake in IBM by 60.7%, now holding 1,316 shares worth approximately $388,000 as of the latest SEC filing.
• Multiple institutional investors have increased their positions in IBM, with Clear Harbor Asset Management boosting its hold by 40.7% and Maryland Capital Advisors increasing theirs by 109.8% in the second quarter.
• IBM's recent earnings report showed earnings per share (EPS) of $2.80, surpassing expectations and marking a 7.7% year-over-year revenue growth, with an annual dividend yield of 2.5%.

Ridgewood Investments LLC trimmed its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 60.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,316 shares of the technology company's stock after selling 2,032 shares during the period. Ridgewood Investments LLC's holdings in International Business Machines were worth $388,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Clear Harbor Asset Management LLC boosted its position in shares of International Business Machines by 40.7% during the 2nd quarter. Clear Harbor Asset Management LLC now owns 4,005 shares of the technology company's stock valued at $1,181,000 after purchasing an additional 1,158 shares in the last quarter. Maryland Capital Advisors Inc. lifted its position in shares of International Business Machines by 109.8% in the second quarter. Maryland Capital Advisors Inc. now owns 944 shares of the technology company's stock worth $278,000 after purchasing an additional 494 shares in the last quarter. Strategic Planning Group LLC raised its position in International Business Machines by 4.5% during the second quarter. Strategic Planning Group LLC now owns 29,420 shares of the technology company's stock valued at $8,672,000 after acquiring an additional 1,262 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its position in International Business Machines by 78.8% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 45,395 shares of the technology company's stock valued at $13,382,000 after acquiring an additional 20,005 shares in the last quarter. Finally, Sweeney & Michel LLC acquired a new position in International Business Machines during the second quarter valued at approximately $663,000. Institutional investors own 58.96% of the company's stock.

Wall Street Analysts Forecast Growth

IBM has been the topic of several analyst reports. Stifel Nicolaus increased their price target on International Business Machines from $290.00 to $310.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. 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. Wall Street Zen raised International Business Machines from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. BMO Capital Markets lifted their price target on International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a report on Friday, July 18th. Finally, The Goldman Sachs Group lifted their price objective on International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, International Business Machines currently has an average rating of "Hold" and a consensus target price of $275.00.

International Business Machines Trading Up 0.8%

NYSE IBM opened at $267.19 on Monday. The stock has a 50 day moving average of $254.82 and a 200-day moving average of $257.31. International Business Machines Corporation has a 12 month low of $203.51 and a 12 month high of $296.16. The company has a market cap of $248.33 billion, a PE ratio of 43.38, a PEG ratio of 4.10 and a beta of 0.71. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, beating 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 business had revenue of $16.98 billion during the quarter, compared to the consensus estimate of $16.58 billion. During the same quarter last year, the firm posted $2.43 EPS. The company's quarterly revenue was up 7.7% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were issued 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 2.5%. 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.

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