International Business Machines Corporation $IBM Shares Sold by Sterling Investment Counsel LLC

Key Points

• Sterling Investment Counsel LLC reduced its stake in International Business Machines Corporation (IBM) by 40.8%, now holding 1,623 shares valued at $478,000.
• Research analysts predominantly rated IBM as a Moderate Buy with an average target price of $284.62, despite varying ratings from different firms.
• IBM reported a quarterly earnings per share of $2.80, exceeding estimates and showing a year-over-year revenue increase of 7.7%.

Sterling Investment Counsel LLC trimmed its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 40.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,623 shares of the technology company's stock after selling 1,118 shares during the period. Sterling Investment Counsel LLC's holdings in International Business Machines were worth $478,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Family CFO Inc acquired a new stake in International Business Machines during the 2nd quarter valued at $25,000. Christopher J. Hasenberg Inc bought a new position in International Business Machines during the 1st quarter valued at $27,000. SSA Swiss Advisors AG bought a new position in International Business Machines during the 1st quarter valued at $28,000. Highline Wealth Partners LLC boosted its stake in International Business Machines by 85.0% during the 2nd quarter. Highline Wealth Partners LLC now owns 111 shares of the technology company's stock valued at $33,000 after acquiring an additional 51 shares during the last quarter. Finally, Dagco Inc. bought a new position in International Business Machines during the 1st quarter valued at $31,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Stifel Nicolaus increased their price objective on shares of International Business Machines from $290.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Erste Group Bank downgraded shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Thursday, August 14th. Bank of America reduced their price objective 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. BMO Capital Markets increased their price objective on shares of International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a research note on Friday, July 18th. Finally, The Goldman Sachs Group increased their price objective on shares of International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, International Business Machines presently has an average rating of "Moderate Buy" and an average target price of $284.62.

International Business Machines Trading Up 0.2%

International Business Machines stock opened at $287.05 on Friday. The firm's 50-day moving average is $254.60 and its 200-day moving average is $258.93. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. International Business Machines Corporation has a 1 year low of $203.51 and a 1 year high of $296.16. The company has a market cap of $266.78 billion, a P/E ratio of 46.60, a PEG ratio of 4.41 and a beta of 0.73.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 9.11% and a return on equity of 37.62%. The company's revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the firm posted $2.43 EPS. International Business Machines has set its FY 2025 guidance at EPS. On average, equities analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors 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 annualized dividend and a yield of 2.3%. 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.

Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Corporation (NYSE:IBM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.