Parsons Capital Management Inc. RI Sells 1,118 Shares of International Business Machines Corporation $IBM

Key Points

• Parsons Capital Management Inc. reduced its stake in International Business Machines Corporation (IBM) by 1.1%, selling 1,118 shares and holding a total of 103,721 shares worth approximately $30.58 million.
• Multiple analysts have varied views on IBM, with Stifel Nicolaus increasing their price target from $290 to $310 while UBS set a sell rating with a price target of $200, reflecting a consensus rating of "Hold" for the stock.
• IBM declared a quarterly dividend of $1.68 per share, leading to an annualized yield of 2.3%, but its dividend payout ratio stands at a high 109.09%.

Parsons Capital Management Inc. RI reduced its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 1.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 103,721 shares of the technology company's stock after selling 1,118 shares during the quarter. International Business Machines makes up 1.9% of Parsons Capital Management Inc. RI's investment portfolio, making the stock its 7th largest holding. Parsons Capital Management Inc. RI's holdings in International Business Machines were worth $30,575,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in IBM. Lifestyle Asset Management Inc. boosted its position in shares of International Business Machines by 1.7% during the 2nd quarter. Lifestyle Asset Management Inc. now owns 2,144 shares of the technology company's stock worth $632,000 after acquiring an additional 36 shares in the last quarter. Blue Edge Capital LLC grew its position in International Business Machines by 0.6% during the 1st quarter. Blue Edge Capital LLC now owns 6,776 shares of the technology company's stock worth $1,685,000 after acquiring an additional 39 shares during the last quarter. Johnson Bixby & Associates LLC raised its position in International Business Machines by 3.3% in the second quarter. Johnson Bixby & Associates LLC now owns 1,208 shares of the technology company's stock valued at $356,000 after purchasing an additional 39 shares during the last quarter. Tacita Capital Inc boosted its stake in shares of International Business Machines by 20.8% during the first quarter. Tacita Capital Inc now owns 232 shares of the technology company's stock valued at $58,000 after purchasing an additional 40 shares in the last quarter. Finally, Vestia Personal Wealth Advisors increased its stake in shares of International Business Machines by 3.1% in the second quarter. Vestia Personal Wealth Advisors now owns 1,345 shares of the technology company's stock valued at $396,000 after buying an additional 40 shares during the period. Institutional investors own 58.96% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Stifel Nicolaus boosted their price objective on shares of International Business Machines from $290.00 to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Wall Street Zen raised International Business Machines from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. UBS Group increased their price target 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. Bank of America lowered their price objective on International Business Machines from $320.00 to $310.00 and set a "buy" rating for the company in a research report on Thursday, July 24th. Finally, Erste Group Bank cut International Business Machines from a "buy" rating to a "hold" rating in a report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $279.29.

International Business Machines Price Performance

Shares of IBM opened at $286.46 on Thursday. The firm has a market cap of $266.23 billion, a PE ratio of 46.50, a price-to-earnings-growth ratio of 4.34 and a beta of 0.73. International Business Machines Corporation has a 52-week low of $203.51 and a 52-week high of $296.16. The business's 50 day moving average price is $254.07 and its two-hundred day moving average price is $258.70. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.65 by $0.15. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The company had revenue of $16.98 billion during the quarter, compared to the consensus estimate of $16.58 billion. During the same quarter last year, the firm posted $2.43 EPS. The company's quarterly revenue was up 7.7% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were given a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Friday, August 8th. International Business Machines's dividend payout ratio is 109.09%.

About International Business Machines

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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