Meiji Yasuda Asset Management Co Ltd. Sells 64,162 Shares of International Business Machines Corporation $IBM

Key Points

• Meiji Yasuda Asset Management Co Ltd. significantly reduced its holdings in International Business Machines Corporation (IBM) by 64.9% during the first quarter, now owning 34,713 shares valued at $8.63 million.
• Several hedge funds, including Vanguard Group and Goldman Sachs, increased their positions in IBM, indicating a mixed sentiment among institutional investors.
• Analysts have recently adjusted price targets for IBM, with estimates ranging from $244 to $315, reflecting a generally optimistic outlook with a consensus target price of $268.75.

Meiji Yasuda Asset Management Co Ltd. decreased its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 64.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 34,713 shares of the technology company's stock after selling 64,162 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.'s holdings in International Business Machines were worth $8,632,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Arete Wealth Advisors LLC grew its holdings in International Business Machines by 30.9% in the first quarter. Arete Wealth Advisors LLC now owns 18,814 shares of the technology company's stock worth $4,678,000 after purchasing an additional 4,441 shares during the period. Strait & Sound Wealth Management LLC grew its stake in shares of International Business Machines by 6.1% in the 1st quarter. Strait & Sound Wealth Management LLC now owns 7,410 shares of the technology company's stock valued at $1,843,000 after buying an additional 424 shares during the period. CTC Alternative Strategies Ltd. acquired a new stake in shares of International Business Machines in the 1st quarter valued at about $303,000. Ashton Thomas Private Wealth LLC grew its stake in shares of International Business Machines by 5.2% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 17,024 shares of the technology company's stock valued at $4,233,000 after buying an additional 846 shares during the period. Finally, Kestra Investment Management LLC grew its stake in shares of International Business Machines by 12.8% in the 1st quarter. Kestra Investment Management LLC now owns 3,718 shares of the technology company's stock valued at $925,000 after buying an additional 421 shares during the period. Institutional investors own 58.96% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on IBM shares. UBS Group raised their price objective on International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a research note on Thursday, July 24th. Erste Group Bank downgraded shares of International Business Machines from a "buy" rating to a "hold" rating in a research report on Thursday, August 14th. Royal Bank Of Canada lifted their price target on shares of International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Wall Street Zen upgraded shares of International Business Machines from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Bank of America lowered their target price on shares of International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $268.75.

International Business Machines Stock Up 1.2%

IBM traded up $2.95 during mid-day trading on Tuesday, reaching $259.04. 4,927,569 shares of the stock were exchanged, compared to its average volume of 3,975,109. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. The stock has a market capitalization of $240.75 billion, a PE ratio of 42.05, a price-to-earnings-growth ratio of 3.94 and a beta of 0.71. The company has a 50 day moving average price of $259.66 and a two-hundred day moving average price of $256.99. International Business Machines Corporation has a 1 year low of $202.87 and a 1 year high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data 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 firm 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 business's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.43 EPS. International Business Machines has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 8th will be issued a dividend of $1.68 per share. The ex-dividend date is Friday, August 8th. This represents a $6.72 annualized dividend and a yield of 2.6%. International Business Machines's payout ratio is 109.09%.

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.