Kornitzer Capital Management Inc. KS Sells 3,082 Shares of International Business Machines Corporation $IBM

Key Points

• Kornitzer Capital Management Inc. KS reduced its stake in International Business Machines Corporation (IBM) by 1.2%, selling 3,082 shares, and now holds 259,647 shares worth approximately $76.54 million.
• Several hedge funds have increased their investments in IBM, with Brighton Jones LLC and GAMMA Investing LLC showing notable growth in their holdings during recent quarters.
• IBM's quarterly earnings surpassed analyst expectations, reporting an EPS of $2.65 and a revenue of $16.33 billion, leading to a positive stock movement with shares trading up 8.0% recently.

Kornitzer Capital Management Inc. KS decreased its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 1.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 259,647 shares of the technology company's stock after selling 3,082 shares during the period. International Business Machines comprises 1.5% of Kornitzer Capital Management Inc. KS's investment portfolio, making the stock its 8th biggest position. Kornitzer Capital Management Inc. KS's holdings in International Business Machines were worth $76,539,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of IBM. Brighton Jones LLC increased its holdings in International Business Machines by 12.4% during the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock worth $4,619,000 after purchasing an additional 2,323 shares during the period. GAMMA Investing LLC grew its stake in International Business Machines by 19.3% during the 1st quarter. GAMMA Investing LLC now owns 17,694 shares of the technology company's stock worth $4,400,000 after buying an additional 2,862 shares during the last quarter. Perigon Wealth Management LLC grew its stake in International Business Machines by 0.4% during the 1st quarter. Perigon Wealth Management LLC now owns 22,051 shares of the technology company's stock worth $5,483,000 after buying an additional 91 shares during the last quarter. Western Wealth Management LLC grew its stake in International Business Machines by 8.0% during the 1st quarter. Western Wealth Management LLC now owns 6,584 shares of the technology company's stock worth $1,637,000 after buying an additional 487 shares during the last quarter. Finally, Nadler Financial Group Inc. lifted its position in International Business Machines by 28.2% during the 1st quarter. Nadler Financial Group Inc. now owns 2,583 shares of the technology company's stock worth $642,000 after acquiring an additional 568 shares during the period. Institutional investors and hedge funds own 58.96% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of International Business Machines in a research report on Wednesday, October 8th. Wall Street Zen downgraded International Business Machines from a "buy" rating to a "hold" rating in a research note on Saturday, October 18th. Erste Group Bank downgraded International Business Machines from a "buy" rating to a "hold" rating in a research report on Thursday, August 14th. Sanford C. Bernstein started coverage on International Business Machines in a research report on Monday, September 15th. They set a "market perform" rating and a $280.00 price target for the company. Finally, Royal Bank Of Canada lowered their price objective on International Business Machines from $315.00 to $300.00 and set an "outperform" rating for the company in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, International Business Machines has a consensus rating of "Hold" and a consensus price target of $288.00.

International Business Machines Stock Up 8.0%

Shares of IBM traded up $22.78 during midday trading on Friday, reaching $307.78. 16,872,658 shares of the company were exchanged, compared to its average volume of 5,608,452. The stock has a 50-day moving average price of $266.21 and a 200-day moving average price of $263.57. The company has a market cap of $286.05 billion, a price-to-earnings ratio of 36.82, a P/E/G ratio of 4.35 and a beta of 0.73. International Business Machines Corporation has a 1-year low of $203.51 and a 1-year high of $310.75. The company has a current ratio of 0.93, a quick ratio of 0.87 and a debt-to-equity ratio of 1.97.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Wednesday, October 22nd. The technology company reported $2.65 EPS for the quarter, topping analysts' consensus estimates of $2.45 by $0.20. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.The company had revenue of $16.33 billion for the quarter, compared to analysts' expectations of $16.10 billion. During the same quarter in the previous year, the firm posted $2.30 earnings per share. The firm's quarterly revenue was up 9.1% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. Research analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Monday, November 10th will be paid a $1.68 dividend. The ex-dividend date is Monday, November 10th. This represents a $6.72 annualized dividend and a dividend yield of 2.2%. International Business Machines's payout ratio is 80.38%.

International Business Machines Company 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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