Patton Fund Management Inc. Has $381,000 Stake in International Business Machines Corporation $IBM

Key Points

• Patton Fund Management sharply reduced its IBM position in the first quarter, cutting its stake by 93.7% and leaving it with 1,573 shares valued at about $381,000.
• IBM reported better-than-expected Q1 earnings, posting $1.91 per share on revenue of $15.92 billion, with revenue up 9.5% from a year earlier.
• The company also raised its quarterly dividend to $1.69 per share, while analysts remain generally positive with a Moderate Buy consensus and an average price target of $306.94.

Patton Fund Management Inc. trimmed its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 93.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,573 shares of the technology company's stock after selling 23,506 shares during the quarter. Patton Fund Management Inc.'s holdings in International Business Machines were worth $381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Family CFO Inc acquired a new position in International Business Machines in the 4th quarter valued at approximately $25,000. Basepoint Wealth LLC acquired a new stake in shares of International Business Machines during the 4th quarter valued at $25,000. Joseph Group Capital Management purchased a new position in shares of International Business Machines during the 4th quarter valued at $28,000. Cornerstone Financial Management LLC purchased a new position in shares of International Business Machines during the 4th quarter valued at $28,000. Finally, SWAN Capital LLC acquired a new position in shares of International Business Machines in the third quarter worth $28,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Down 0.1%

International Business Machines stock opened at $271.36 on Monday. The company has a market capitalization of $255.05 billion, a P/E ratio of 23.99, a P/E/G ratio of 2.81 and a beta of 0.66. The firm's fifty day simple moving average is $253.83 and its 200-day simple moving average is $266.96. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75. International Business Machines Corporation has a 1-year low of $212.34 and a 1-year high of $332.46.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.10. The business had revenue of $15.92 billion during the quarter, compared to analyst estimates of $15.60 billion. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. International Business Machines's quarterly 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. Sell-side analysts forecast that International Business Machines Corporation will post 12.39 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th were given a $1.69 dividend. This is an increase from International Business Machines's previous quarterly dividend of $1.68. This represents a $6.76 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, May 8th. International Business Machines's payout ratio is presently 59.77%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on IBM shares. Piper Sandler upgraded International Business Machines to an "overweight" rating in a report on Tuesday, June 23rd. Stifel Nicolaus set a $290.00 target price on International Business Machines in a research note on Friday, May 22nd. Citigroup upped their target price on International Business Machines from $285.00 to $375.00 and gave the stock a "buy" rating in a research report on Tuesday, June 2nd. DZ Bank raised International Business Machines from a "hold" rating to a "buy" rating and set a $295.00 price target for the company in a research note on Friday, April 24th. Finally, KeyCorp lowered International Business Machines to a "sector weight" rating in a report on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, International Business Machines has a consensus rating of "Moderate Buy" and a consensus price target of $306.94.

Key Stories Impacting International Business Machines

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

• Positive Sentiment: IBM introduced a new “nanostack” chip architecture at the 0.7 nm node, with roughly 100 billion transistors on a fingernail-sized chip. Analysts at Wedbush said the development supports IBM’s long-term hardware ambitions as AI computing demand rises. IBM quantum foundry plan adds to long-term hardware strategy: Wedbush
• Positive Sentiment: Multiple reports said the announcement could extend Moore’s Law and improve chip performance and energy efficiency, reinforcing IBM’s relevance in next-generation AI infrastructure. IBM unveils tech for chip smaller than 1 nanometer in AI computing push
• Positive Sentiment: Investor sentiment also improved after commentary that the breakthrough positions IBM as a possible long-term winner in AI hardware, helping fuel the stock’s recent momentum. IBM Unveils Prototype for Sub-1-Nanometer AI Chip. Why It Matters.
• Neutral Sentiment: Some coverage noted the technology is still a research prototype and may not reach production for years, so the commercial impact is not immediate. IBM (IBM) Stock Surges 6% on Revolutionary Sub-Nanometer Chip Technology
• Negative Sentiment: One article argued IBM still faces skepticism from investors over execution and longer-term growth, even after the chip news, which could temper enthusiasm. 3 Reasons to Avoid IBM and 1 Stock to Buy Instead

About International Business Machines

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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