RNC Capital Management LLC Sells 93,580 Shares of International Business Machines Corporation $IBM

Key Points

• RNC Capital Management LLC sold 93,580 shares of International Business Machines Corporation (IBM), reducing its holdings by 39.2% during the 1st quarter.
• Several analysts raised their price targets for IBM, with BMO Capital Markets and Royal Bank of Canada setting targets of $300.00 and $315.00 respectively, indicating a generally positive outlook.
• IBM recently announced a quarterly dividend of $1.68 per share, contributing to an annualized dividend yield of 2.7%.

RNC Capital Management LLC decreased its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 39.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 145,224 shares of the technology company's stock after selling 93,580 shares during the quarter. International Business Machines makes up 1.8% of RNC Capital Management LLC's investment portfolio, making the stock its 28th biggest holding. RNC Capital Management LLC's holdings in International Business Machines were worth $36,111,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Christopher J. Hasenberg Inc bought a new position in International Business Machines in the 1st quarter valued at about $27,000. SSA Swiss Advisors AG purchased a new stake in shares of International Business Machines during the 1st quarter worth approximately $28,000. Dagco Inc. purchased a new stake in shares of International Business Machines during the 1st quarter worth approximately $31,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of International Business Machines during the 1st quarter worth approximately $45,000. Finally, Park Square Financial Group LLC purchased a new stake in shares of International Business Machines during the 4th quarter worth approximately $43,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. BMO Capital Markets raised their price objective on shares of International Business Machines from $260.00 to $300.00 and gave the stock a "market perform" rating in a report on Friday, July 18th. Royal Bank Of Canada raised their price objective on shares of International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Wall Street Zen raised shares of International Business Machines from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Erste Group Bank downgraded shares of International Business Machines from a "buy" rating to a "hold" rating in a report on Thursday, August 14th. Finally, JPMorgan Chase & Co. boosted their price target on shares of International Business Machines from $244.00 to $290.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $268.75.

International Business Machines Price Performance

IBM stock opened at $248.47 on Monday. International Business Machines Corporation has a 12-month low of $199.34 and a 12-month high of $296.16. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00. The firm's 50-day moving average price is $261.07 and its two-hundred day moving average price is $257.01. The stock has a market capitalization of $230.93 billion, a price-to-earnings ratio of 40.34, a PEG ratio of 3.83 and a beta of 0.71.

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

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th will be issued a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, August 8th. International Business Machines's payout ratio is presently 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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