New England Asset Management Inc. Sells 2,370 Shares of International Business Machines Corporation $IBM

Key Points

• New England Asset Management Inc. has reduced its stake in International Business Machines Corporation (IBM) by 10.5%, selling 2,370 shares, bringing its total holdings to 20,285 shares valued at approximately $5 million.
• Several institutional investors have increased their holdings in IBM, with Brighton Jones LLC and Clark Capital Management Group Inc. raising their stakes by 12.4% and 14.0% respectively in recent quarters.
• Wall Street analysts have generally positive outlooks on IBM, with price targets from firms like UBS and JPMorgan suggesting potential growth, including an upgrade from $244 to $290 by JPMorgan Chase & Co.

New England Asset Management Inc. lessened its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 10.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,285 shares of the technology company's stock after selling 2,370 shares during the period. New England Asset Management Inc.'s holdings in International Business Machines were worth $5,044,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in IBM. MinichMacGregor Wealth Management LLC bought a new stake in shares of International Business Machines in the first quarter valued at approximately $396,000. Brooklyn Investment Group boosted its stake in shares of International Business Machines by 32.7% in the first quarter. Brooklyn Investment Group now owns 6,622 shares of the technology company's stock valued at $1,647,000 after buying an additional 1,630 shares during the period. Edgar Lomax Co. VA boosted its stake in shares of International Business Machines by 5.7% in the first quarter. Edgar Lomax Co. VA now owns 235,967 shares of the technology company's stock valued at $58,676,000 after buying an additional 12,690 shares during the period. Left Brain Wealth Management LLC boosted its stake in shares of International Business Machines by 1,547.8% in the first quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company's stock valued at $4,392,000 after buying an additional 16,592 shares during the period. Finally, Alpha Cubed Investments LLC lifted its stake in International Business Machines by 47.0% during the first quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company's stock worth $1,867,000 after purchasing an additional 2,399 shares during the last quarter. Institutional investors own 58.96% of the company's stock.

International Business Machines Trading Up 0.5%

NYSE IBM traded up $1.29 on Friday, reaching $248.47. The company had a trading volume of 3,144,657 shares, compared to its average volume of 4,097,194. The firm has a market cap of $230.93 billion, a price-to-earnings ratio of 40.34, a P/E/G ratio of 3.83 and a beta of 0.71. International Business Machines Corporation has a fifty-two week low of $199.34 and a fifty-two week high of $296.16. The business has a 50 day moving average of $261.07 and a two-hundred day moving average of $257.01. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, beating analysts' consensus estimates of $2.65 by $0.15. The business had revenue of $16.98 billion for the quarter, compared to analysts' expectations 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 quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.43 earnings per share. International Business Machines has set its FY 2025 guidance at EPS. Analysts forecast 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. Shareholders of record on Friday, August 8th will be given a dividend of $1.68 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $6.72 dividend on an annualized basis and a yield of 2.7%. International Business Machines's dividend payout ratio is 109.09%.

Analyst Ratings Changes

Several equities research analysts have weighed in on IBM shares. JPMorgan Chase & Co. upped their target price on International Business Machines from $244.00 to $290.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Citigroup restated an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. Stifel Nicolaus upped their target price on International Business Machines from $290.00 to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. UBS Group upped their target price on International Business Machines from $195.00 to $200.00 and gave the stock a "sell" rating in a research note on Thursday, July 24th. Finally, Bank of America cut their target price on International Business Machines from $320.00 to $310.00 and set a "buy" rating for the company in a research note 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 issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price 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.