International Business Machines Corporation $IBM Stock: Torrey Growth & Income Advisors Cuts Holdings

Key Points

• Torrey Growth & Income Advisors cut its IBM holdings by 71.7% in the third quarter, selling 2,530 shares and retaining 1,000 shares valued at about $220,000.
• IBM beat quarterly estimates, reporting earnings of $2.95 per share and revenue of $17.10 billion; revenue rose 4.7% year over year.
• IBM announced a quarterly dividend of $1.69 per share, equal to a 2.7% annualized yield. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $266.88.

Torrey Growth & Income Advisors reduced its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 71.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,000 shares of the technology company's stock after selling 2,530 shares during the quarter. Torrey Growth & Income Advisors' holdings in International Business Machines were worth $220,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of IBM. Assetmark Inc. boosted its position in shares of International Business Machines by 24.8% during the 1st quarter. Assetmark Inc. now owns 64,458 shares of the technology company's stock valued at $15,624,000 after purchasing an additional 12,791 shares in the last quarter. Flputnam Investment Management Co. bought a new stake in shares of International Business Machines in the 2nd quarter worth approximately $15,237,000. Beacon Investment Advisory Services Inc. raised its holdings in shares of International Business Machines by 939.4% in the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 30,495 shares of the technology company's stock worth $8,575,000 after purchasing an additional 27,561 shares in the last quarter. St. Louis Financial Planners Asset Management LLC lifted its stake in International Business Machines by 34.6% during the second quarter. St. Louis Financial Planners Asset Management LLC now owns 14,234 shares of the technology company's stock valued at $4,121,000 after purchasing an additional 3,659 shares during the last quarter. Finally, Evercore Wealth Management LLC lifted its stake in International Business Machines by 9.0% during the first quarter. Evercore Wealth Management LLC now owns 62,801 shares of the technology company's stock valued at $15,222,000 after purchasing an additional 5,196 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at International Business Machines

In other news, SVP Robert Thomas sold 25,000 shares of International Business Machines stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $230.32, for a total transaction of $5,758,000.00. Following the transaction, the senior vice president owned 47,800 shares in the company, valued at approximately $11,009,296. The trade was a 34.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.27% of the stock is currently owned by company insiders.

International Business Machines Stock Up 0.5%

IBM stock opened at $246.32 on Tuesday. International Business Machines Corporation has a 52-week low of $199.19 and a 52-week high of $332.46. The company's 50 day simple moving average is $236.97 and its 200-day simple moving average is $248.39. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.85 and a quick ratio of 0.80. The firm has a market capitalization of $232.80 billion, a P/E ratio of 21.00, a P/E/G ratio of 2.50 and a beta of 0.78.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data on Wednesday, October 21st. The technology company reported $2.95 EPS for the quarter, topping analysts' consensus estimates of $2.85 by $0.10. International Business Machines had a net margin of 15.99% and a return on equity of 34.37%. The firm had revenue of $17.10 billion during the quarter, compared to analyst estimates of $16.82 billion. During the same quarter last year, the business posted $2.65 EPS. The company's revenue was up 4.7% on a year-over-year basis. As a group, equities research analysts anticipate that International Business Machines Corporation will post 12.41 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Tuesday, November 10th will be given a $1.69 dividend. This represents a $6.76 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, November 10th. International Business Machines's dividend payout ratio (DPR) is 57.63%.

Analysts Set New Price Targets

IBM has been the topic of several recent research reports. Craig Hallum assumed coverage on shares of International Business Machines in a research report on Wednesday, August 19th. They issued a "buy" rating on the stock. HSBC cut their price objective on International Business Machines from $175.00 to $174.00 in a research report on Friday, July 24th. Stifel Nicolaus raised their price objective on International Business Machines from $235.00 to $260.00 and gave the stock a "buy" rating in a research note on Thursday, October 22nd. Barclays raised their price objective on International Business Machines from $262.00 to $277.00 and gave the stock an "overweight" rating in a research note on Thursday, October 22nd. Finally, Citic Securities lifted their target price on International Business Machines from $294.00 to $297.00 and gave the stock a "buy" rating in a report on Wednesday, July 29th. Nineteen investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $266.88.

International Business Machines News Roundup

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

• Positive Sentiment: IBM deployed its first quantum computer in Illinois, at the Illinois Quantum and Microelectronics Park. The installation builds research and industry partnerships and is part of a state initiative expected to create 750 technology jobs. It strengthens IBM’s quantum-computing presence, though commercial returns may take time. Can IBM's Latest Quantum System Boost Illinois' Innovation Future?
• Positive Sentiment: IBM-owned Apptio added connections and cost-management tools to help businesses track AI usage and spending, forecast budgets, and assess investments against business results. The update could help IBM capture demand as enterprises seek to manage the cost of adopting AI. Apptio Expands Portfolio to Help Enterprises Connect AI Spending to Business Value
• Positive Sentiment: Quantum X Labs said its AI-powered error-correction program is running on three IBM quantum processors and showed up to 20% fewer logical decoding failures. This offers a potential third-party validation of IBM hardware, although the announcement comes from Quantum X Labs rather than IBM. Quantum X Labs Expands AI-Powered Quantum Error Correction Program
• Neutral Sentiment: A Seeking Alpha analysis sees IBM’s enterprise AI portfolio and software growth as strengths, but rates the shares Hold, citing competition and a valuation it considers fair. That view suggests limited near-term upside based on its $249 price target. IBM: A Full Enterprise AI Stack, But Rivals Keep It A Hold
• Negative Sentiment: The European Union is suing IBM and partners Atos and Leonardo over repeated delays in developing the bloc’s Entry/Exit border system. The case raises potential legal costs and could weigh on IBM’s reputation and government-contract execution; the reports do not specify the financial exposure. EU sues IBM and partners over troubled border system

About International Business Machines

International Business Machines Corporation (IBM) is a global technology company that provides software, consulting, infrastructure and related services to businesses and public-sector organizations. Its offerings include hybrid cloud and artificial intelligence solutions, enterprise software, IT consulting, and systems such as IBM Z mainframes and Power servers.

IBM also develops technologies in areas including data management, automation, cybersecurity and quantum computing. Its consulting teams help clients design, build and manage technology systems and business processes.

The company traces its roots to the Computing-Tabulating-Recording Company, formed in 1911, and adopted the name International Business Machines in 1924.

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