Penobscot Investment Management Company Inc. Cuts Stock Holdings in International Business Machines Corporation $IBM

Key Points

• Penobscot Investment Management Company Inc. reduced its holdings in IBM by 11.0% during the second quarter, ending up with 8,105 shares valued at approximately $2.39 million after selling 1,000 shares.
• IBM's recent earnings report showed an EPS of $2.80, exceeding analysts' expectations, with a year-over-year revenue increase of 7.7%.
• IBM recently announced a quarterly dividend of $1.68 per share, with an annualized dividend yield of 2.3% and a payout ratio of 109.09%.

Penobscot Investment Management Company Inc. decreased its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 11.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,105 shares of the technology company's stock after selling 1,000 shares during the quarter. Penobscot Investment Management Company Inc.'s holdings in International Business Machines were worth $2,389,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Brighton Jones LLC boosted its stake in International Business Machines by 12.4% in the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock worth $4,619,000 after buying an additional 2,323 shares in the last quarter. Fermata Advisors LLC purchased a new stake in International Business Machines in the first quarter worth approximately $204,000. Retirement Planning Group LLC boosted its stake in International Business Machines by 5.2% in the first quarter. Retirement Planning Group LLC now owns 3,698 shares of the technology company's stock worth $919,000 after buying an additional 183 shares in the last quarter. Foster Group Inc. boosted its stake in International Business Machines by 17.9% in the first quarter. Foster Group Inc. now owns 2,387 shares of the technology company's stock worth $593,000 after buying an additional 362 shares in the last quarter. Finally, Generali Investments Management Co LLC boosted its stake in International Business Machines by 73.6% in the first quarter. Generali Investments Management Co LLC now owns 5,567 shares of the technology company's stock worth $1,384,000 after buying an additional 2,360 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

International Business Machines Stock Performance

Shares of IBM stock opened at $288.62 on Friday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. The company has a market capitalization of $268.25 billion, a P/E ratio of 46.85, a PEG ratio of 4.41 and a beta of 0.73. The stock has a 50 day moving average price of $255.18 and a two-hundred day moving average price of $259.22. International Business Machines Corporation has a fifty-two week low of $203.51 and a fifty-two week high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last announced its 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 company had revenue of $16.98 billion during 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 firm's revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.43 earnings per share. International Business Machines has set its FY 2025 guidance at EPS. Analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were issued 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 was Friday, August 8th. International Business Machines's dividend payout ratio is currently 109.09%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. 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. Erste Group Bank lowered International Business Machines from a "buy" rating to a "hold" rating in a research note on Thursday, August 14th. Sanford C. Bernstein started coverage on International Business Machines in a research report on Monday, September 15th. They issued a "market perform" rating and a $280.00 price objective for the company. Wall Street Zen upgraded International Business Machines from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Wedbush boosted their price objective on International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a research report on Friday, June 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, International Business Machines presently has a consensus rating of "Hold" and a consensus price target of $284.62.

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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