RNC Capital Management LLC Sells 126,872 Shares of International Business Machines Corporation $IBM

RNC Capital Management LLC decreased its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 87.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,352 shares of the technology company's stock after selling 126,872 shares during the period. RNC Capital Management LLC's holdings in International Business Machines were worth $5,410,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Family CFO Inc bought a new stake in International Business Machines during the second quarter worth about $25,000. Christopher J. Hasenberg Inc bought a new stake in International Business Machines during the first quarter worth about $27,000. SSA Swiss Advisors AG bought a new stake in International Business Machines during the first quarter worth about $28,000. Dagco Inc. bought a new stake in International Business Machines during the first quarter worth about $31,000. Finally, Silicon Valley Capital Partners lifted its stake in International Business Machines by 322.6% during the first quarter. Silicon Valley Capital Partners now owns 131 shares of the technology company's stock worth $32,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 58.96% of the company's stock.

International Business Machines Stock Performance

International Business Machines stock opened at $287.57 on Thursday. The stock's 50 day simple moving average is $263.92 and its two-hundred day simple moving average is $262.56. 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 stock has a market cap of $267.27 billion, a price-to-earnings ratio of 46.68, a PEG ratio of 4.34 and a beta of 0.73. International Business Machines Corporation has a fifty-two week low of $203.51 and a fifty-two week high of $301.04.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data on Wednesday, October 22nd. The technology company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.20. The business had revenue of $16.33 billion for the quarter, compared to analysts' expectations of $16.10 billion. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.The business's revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.30 EPS. International Business Machines has set its FY 2025 guidance at EPS. As a group, analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th will be given a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, November 10th. International Business Machines's payout ratio is currently 109.09%.

Analysts Set New Price Targets

IBM has been the subject of several research analyst reports. Bank of America dropped their price target on International Business Machines from $320.00 to $310.00 and set a "buy" rating for the company in a research note on Thursday, July 24th. Jefferies Financial Group lifted their price target on International Business Machines from $280.00 to $305.00 and gave the stock a "hold" rating in a research note on Tuesday. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $315.00 price target on shares of International Business Machines in a research note on Thursday, October 16th. Morgan Stanley lifted their price objective on International Business Machines from $253.00 to $256.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 15th. Finally, Melius Research upgraded International Business Machines to a "strong-buy" rating in a report on Monday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $289.08.

International Business Machines Company 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.

Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Corporation (NYSE:IBM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.