Parr Mcknight Wealth Management Group LLC Sells 10,337 Shares of International Business Machines Corporation $IBM

Key Points

• Parr Mcknight Wealth Management Group LLC sharply reduced its IBM stake in Q1, selling 10,337 shares and cutting its position by 73.8% to 3,675 shares worth about $891,000.
• IBM reported better-than-expected earnings and revenue in its latest quarter, with EPS of $1.91 versus $1.81 expected and revenue of $15.92 billion versus $15.60 billion estimated, while revenue rose 9.5% year over year.
• The company also raised its quarterly dividend to $1.69 per share, and analysts remain generally constructive with a consensus rating of “Moderate Buy” and an average target price of $306.28.

Parr Mcknight Wealth Management Group LLC cut its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 73.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,675 shares of the technology company's stock after selling 10,337 shares during the quarter. Parr Mcknight Wealth Management Group LLC's holdings in International Business Machines were worth $891,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Y.D. More Investments Ltd raised its holdings in International Business Machines by 25.0% during the 1st quarter. Y.D. More Investments Ltd now owns 500 shares of the technology company's stock worth $121,000 after purchasing an additional 100 shares during the last quarter. J. Safra Sarasin Holding AG increased its position in shares of International Business Machines by 0.7% during the first quarter. J. Safra Sarasin Holding AG now owns 231,531 shares of the technology company's stock worth $56,121,000 after buying an additional 1,625 shares during the period. Lifeworks Advisors LLC increased its position in shares of International Business Machines by 4.0% during the first quarter. Lifeworks Advisors LLC now owns 25,862 shares of the technology company's stock worth $6,269,000 after buying an additional 994 shares during the period. Del Sette Capital Management LLC raised its stake in International Business Machines by 4.8% during the first quarter. Del Sette Capital Management LLC now owns 11,265 shares of the technology company's stock worth $2,731,000 after buying an additional 520 shares during the last quarter. Finally, Procyon Advisors LLC raised its stake in International Business Machines by 18.6% during the first quarter. Procyon Advisors LLC now owns 15,571 shares of the technology company's stock worth $3,774,000 after buying an additional 2,437 shares during the last quarter. Institutional investors own 58.96% of the company's stock.

International Business Machines News Roundup

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

• Positive Sentiment: Jim Cramer called IBM inexpensive, praised CEO Arvind Krishna’s execution, and suggested buying the stock, reinforcing the bullish view that the company is undervalued. Jim Cramer on IBM: “It’s Inexpensive and Arvind Krishna’s Doing a Fantastic Job”
• Positive Sentiment: IBM unveiled major updates to its Bob AI platform, which could improve its competitive position in enterprise AI and support the stock’s growth narrative. IBM Just Unveiled Major Updates to Its Bob AI Platform. How to Play IBM Stock Here.
• Positive Sentiment: Market commentary on IBM’s quantum efforts and its presence in a Capitol Hill quantum tech showcase kept attention on the company’s long-term technology upside. Quantum Tech on Capitol Hill: Nvidia, IBM and More Stocks to Watch
• Positive Sentiment: Analysts and media reports framed IBM as a potential dividend-and-growth name, suggesting investors still see defensive appeal alongside capital appreciation potential. 3 Dividend Stocks with Growth on Tap for the Second Half
• Neutral Sentiment: Several articles debated IBM’s place in the AI trade and whether it can remain steady through an AI “reset,” but these pieces were more about positioning than a clear new catalyst. Can IBM NYSE: IBM Stay Steady Through the AI Reset?
• Neutral Sentiment: A comparison article argued HubSpot has the edge over IBM on faster growth and valuation, which is a mild reminder that IBM still faces competition for AI investor dollars. HubSpot vs. IBM: Which AI Software Stock is a Better Buy Now?

International Business Machines Trading Up 1.0%

NYSE:IBM opened at $290.46 on Tuesday. International Business Machines Corporation has a 52 week low of $212.34 and a 52 week high of $332.46. The firm has a 50-day moving average price of $264.95 and a two-hundred day moving average price of $265.82. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.80. The firm has a market cap of $273.00 billion, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 2.78 and a beta of 0.68.

International Business Machines (NYSE:IBM - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share for the quarter, topping analysts' consensus estimates of $1.81 by $0.10. The firm had revenue of $15.92 billion for the quarter, compared to the consensus estimate of $15.60 billion. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The company's revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.60 EPS. On average, equities analysts expect that International Business Machines Corporation will post 12.45 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th were paid a $1.69 dividend. This is a boost from International Business Machines's previous quarterly dividend of $1.68. The ex-dividend date was Friday, May 8th. This represents a $6.76 dividend on an annualized basis and a yield of 2.3%. International Business Machines's dividend payout ratio is currently 59.77%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on IBM shares. KeyCorp downgraded International Business Machines to a "sector weight" rating in a research note on Tuesday, June 23rd. HSBC upgraded shares of International Business Machines from a "reduce" rating to a "hold" rating and boosted their target price for the company from $218.00 to $231.00 in a research report on Tuesday, April 28th. Susquehanna initiated coverage on shares of International Business Machines in a research note on Friday. They set a "neutral" rating and a $303.00 target price on the stock. Citigroup lifted their price target on shares of International Business Machines from $285.00 to $375.00 and gave the company a "buy" rating in a research note on Tuesday, June 2nd. Finally, Bank of America upped their price objective on shares of International Business Machines from $315.00 to $330.00 and gave the company a "buy" rating in a report on Monday, July 6th. Sixteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, International Business Machines currently has a consensus rating of "Moderate Buy" and an average target price of $306.28.

International Business Machines Company Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM's principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.

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