MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Cuts Holdings in International Business Machines Corporation $IBM

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in IBM by 18.8%, now holding 493,492 shares valued at approximately $122.68 million.
• Several hedge funds have increased their positions in IBM, with notable moves from GAMMA Investing LLC, which boosted its holdings by 29,564.2%, and Vanguard Group, which now owns over 93 million shares.
• IBM reported better-than-expected earnings, with a Q2 EPS of $2.80, and recently declared a dividend of $1.68 per share, reflecting a 2.7% yield.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 18.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 493,492 shares of the technology company's stock after selling 114,348 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.05% of International Business Machines worth $122,676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Christopher J. Hasenberg Inc acquired a new stake in shares of International Business Machines in the first quarter worth approximately $27,000. SSA Swiss Advisors AG acquired a new position in International Business Machines during the first quarter worth $28,000. Dagco Inc. acquired a new position in International Business Machines during the first quarter worth $31,000. Measured Risk Portfolios Inc. acquired a new position in International Business Machines during the fourth quarter worth $43,000. Finally, Park Square Financial Group LLC acquired a new position in International Business Machines during the fourth quarter worth $43,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Trading Up 3.1%

Shares of IBM stock traded up $7.67 on Monday, hitting $256.20. The stock had a trading volume of 6,926,843 shares, compared to its average volume of 4,683,279. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87. The firm has a market capitalization of $238.11 billion, a P/E ratio of 41.59, a P/E/G ratio of 3.83 and a beta of 0.71. International Business Machines Corporation has a 1 year low of $201.43 and a 1 year high of $296.16. The company's 50 day moving average price is $261.07 and its 200-day moving average price is $257.01.

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, beating the consensus estimate 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 return on equity of 37.62% and a net margin of 9.11%.The company's quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.43 EPS. International Business Machines has set its FY 2025 guidance at EPS. Analysts anticipate 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 will be paid on Wednesday, September 10th. Investors of record on Friday, August 8th will be issued a $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Friday, August 8th. International Business Machines's payout ratio is currently 109.09%.

Analyst Ratings Changes

A number of research firms have weighed in on IBM. The Goldman Sachs Group boosted their price objective on International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Royal Bank Of Canada upped their price target on International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. BMO Capital Markets upped their price target on 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. JPMorgan Chase & Co. upped their price target on International Business Machines from $244.00 to $290.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Finally, Wedbush upped their price target on International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a research note on Friday, June 20th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, International Business Machines presently has an average rating of "Hold" and a consensus price target of $268.75.

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.