International Business Machines Corporation $IBM Stake Lessened by Axxcess Wealth Management LLC

Key Points

• Axxcess Wealth Management trimmed its IBM stake by 6.0% in the first quarter, though institutional ownership remains high at 58.96% of shares.
• IBM beat expectations in its latest quarterly results, posting $1.91 EPS on $15.92 billion in revenue, with revenue up 9.5% year over year.
• The company raised its dividend to $1.69 per quarter, equal to an annualized $6.76 payout and a 2.2% yield, while analysts still rate the stock a Moderate Buy with a consensus price target of $306.47.

Axxcess Wealth Management LLC reduced its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 6.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,308 shares of the technology company's stock after selling 2,851 shares during the period. Axxcess Wealth Management LLC's holdings in International Business Machines were worth $10,740,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its position in International Business Machines by 424.6% during the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 260,740 shares of the technology company's stock worth $77,234,000 after purchasing an additional 211,040 shares during the period. GLOBALT Investments LLC GA raised its position in shares of International Business Machines by 19.1% in the fourth quarter. GLOBALT Investments LLC GA now owns 18,288 shares of the technology company's stock valued at $5,417,000 after purchasing an additional 2,930 shares during the period. Newbridge Financial Services Group Inc. lifted its stake in shares of International Business Machines by 30.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 13,122 shares of the technology company's stock worth $3,887,000 after buying an additional 3,029 shares during the last quarter. Rice Partnership LLC bought a new stake in shares of International Business Machines during the 4th quarter worth about $3,317,000. Finally, Sage Investment Advisers LLC bought a new position in International Business Machines in the 4th quarter valued at about $4,101,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Trading Up 2.2%

Shares of International Business Machines stock opened at $305.98 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.75. International Business Machines Corporation has a 12-month low of $212.34 and a 12-month high of $332.46. The company has a market capitalization of $287.59 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 3.09 and a beta of 0.68. The firm's 50-day moving average price is $259.83 and its two-hundred day moving average price is $266.05.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share for the quarter, topping analysts' consensus estimates of $1.81 by $0.10. The company had revenue of $15.92 billion during the quarter, compared to the consensus estimate of $15.60 billion. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The firm's quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.60 EPS. On average, analysts forecast that International Business Machines Corporation will post 12.45 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th were given a $1.69 dividend. This is a boost from International Business Machines's previous quarterly dividend of $1.68. This represents a $6.76 annualized dividend and a yield of 2.2%. The ex-dividend date was Friday, May 8th. International Business Machines's dividend payout ratio is 59.77%.

Key Headlines Impacting International Business Machines

Here are the key news stories impacting International Business Machines this week:

• Positive Sentiment: IBM launched new z17 and LinuxONE 5 configurations, including rack-mount and single-frame options, aimed at easing data-center space and cost constraints while strengthening its mainframe and enterprise infrastructure offering. IBM Launches Compact z17 and LinuxONE Systems to Address Data Center Space and Cost Constraints
• Positive Sentiment: Bank of America raised its price target on IBM to $330 and kept a buy rating, citing software strength, Red Hat momentum, infrastructure support, and the possibility of a modest guidance boost later this year. IBM Stock Jumps as BofA Securities Flags Strong Q2, Potential 2026 Guidance Hike
• Positive Sentiment: IBM also got a lift from quantum-computing headlines, including new research with Oak Ridge National Lab and Cleveland Clinic that achieved first-known computations of fusion materials on a quantum computer, reinforcing IBM’s AI/quantum leadership narrative. Oak Ridge National Lab, Cleveland Clinic, and IBM Achieve First-Known Computations of Fusion Materials on a Quantum Computer
• Neutral Sentiment: IBM remained in focus as a Dow component benefiting from broader market strength, with multiple articles noting the stock’s continued rally and investor attention ahead of the July 22 earnings report.

Analyst Ratings Changes

Several research firms have recently commented on IBM. Wolfe Research downgraded International Business Machines to a "peer perform" rating in a research report on Tuesday, June 23rd. KeyCorp downgraded International Business Machines to a "sector weight" rating in a research note on Tuesday, June 23rd. Wedbush set a $350.00 price objective on International Business Machines in a research report on Tuesday, June 2nd. Jefferies Financial Group assumed coverage on shares of International Business Machines in a research note on Tuesday, June 23rd. They issued a "buy" rating on the stock. Finally, Barclays assumed coverage on shares of International Business Machines in a research report on Monday, June 1st. They set an "overweight" rating and a $350.00 price target on the stock. Sixteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $306.47.

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM's principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.

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