Prime Capital Investment Advisors LLC Sells 11,629 Shares of International Business Machines Corporation $IBM

Key Points

• Prime Capital Investment Advisors LLC reduced its stake in IBM by 23.6% during the second quarter, selling 11,629 shares and holding a total of 37,578 shares valued at $11,077,000.
• Several institutional investors, including Brighton Jones LLC and Gateway Investment Advisers LLC, have made significant changes to their holdings in IBM, with some increasing their positions by as much as 634.4%.
• IBM reported $2.80 earnings per share, exceeding estimates, with quarterly revenue at $16.98 billion, representing a 7.7% increase year-over-year.

Prime Capital Investment Advisors LLC trimmed its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 23.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,578 shares of the technology company's stock after selling 11,629 shares during the period. Prime Capital Investment Advisors LLC's holdings in International Business Machines were worth $11,077,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Brighton Jones LLC grew its position in International Business Machines by 12.4% during the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock valued at $4,619,000 after buying an additional 2,323 shares during the period. Gateway Investment Advisers LLC grew its position in shares of International Business Machines by 634.4% during the 1st quarter. Gateway Investment Advisers LLC now owns 40,401 shares of the technology company's stock valued at $10,046,000 after acquiring an additional 34,900 shares during the period. Sivia Capital Partners LLC increased its stake in shares of International Business Machines by 18.4% in the 1st quarter. Sivia Capital Partners LLC now owns 1,752 shares of the technology company's stock worth $436,000 after purchasing an additional 272 shares in the last quarter. Wedmont Private Capital raised its holdings in International Business Machines by 4.9% in the 1st quarter. Wedmont Private Capital now owns 11,953 shares of the technology company's stock worth $2,815,000 after purchasing an additional 558 shares during the period. Finally, Revolve Wealth Partners LLC lifted its position in International Business Machines by 8.2% during the first quarter. Revolve Wealth Partners LLC now owns 2,145 shares of the technology company's stock valued at $533,000 after purchasing an additional 163 shares in the last quarter. Institutional investors own 58.96% of the company's stock.

Analyst Ratings Changes

IBM has been the subject of several analyst reports. Wedbush increased their target price on shares of International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. JPMorgan Chase & Co. lifted their target price on shares of International Business Machines from $244.00 to $290.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. UBS Group increased their price target 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. Melius Research raised International Business Machines to a "strong-buy" rating in a research note on Monday, July 7th. Finally, Erste Group Bank cut International Business Machines from a "buy" rating to a "hold" rating in a report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $284.62.

International Business Machines Price Performance

IBM stock opened at $288.62 on Monday. The company has a fifty day simple moving average of $255.18 and a two-hundred day simple moving average of $259.38. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. The firm has a market capitalization of $268.25 billion, a P/E ratio of 46.85, a price-to-earnings-growth ratio of 4.44 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.

International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.15. The firm had revenue of $16.98 billion for 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 company's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.43 EPS. International Business Machines has set its FY 2025 guidance at EPS. Analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

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

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.

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