Stockman Wealth Management Inc. Sells 53,286 Shares of International Business Machines Corporation $IBM

Key Points

• Stockman Wealth Management Inc. has significantly decreased its stake in IBM by 87.1%, selling 53,286 shares and now holding only 7,894 shares valued at approximately $2.3 million.
• IBM reported better-than-expected earnings with an EPS of $2.80, exceeding the consensus estimate of $2.65, and had a revenue of $16.98 billion for the last quarter.
• The company recently declared a quarterly dividend of $1.68 per share, resulting in an annualized dividend yield of 2.4%, though its payout ratio stands at a high 109.09%.

Stockman Wealth Management Inc. lowered its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 87.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,894 shares of the technology company's stock after selling 53,286 shares during the period. Stockman Wealth Management Inc.'s holdings in International Business Machines were worth $2,327,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IBM. Christopher J. Hasenberg Inc bought a new position in International Business Machines during the first quarter worth about $27,000. SSA Swiss Advisors AG acquired a new stake in shares of International Business Machines during the first quarter worth about $28,000. Dagco Inc. acquired a new stake in shares of International Business Machines during the first quarter worth about $31,000. Silicon Valley Capital Partners raised its position in shares of 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 period. Finally, Highline Wealth Partners LLC raised its position in shares of International Business Machines by 85.0% during the second quarter. Highline Wealth Partners LLC now owns 111 shares of the technology company's stock worth $33,000 after purchasing an additional 51 shares during the period. Institutional investors own 58.96% of the company's stock.

International Business Machines Stock Performance

Shares of NYSE IBM opened at $284.72 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00. International Business Machines Corporation has a 12 month low of $203.51 and a 12 month high of $296.16. The stock has a 50 day moving average of $254.07 and a 200-day moving average of $258.03. The company has a market capitalization of $264.62 billion, a P/E ratio of 46.22, a P/E/G ratio of 4.38 and a beta of 0.71.

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

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were paid a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Friday, August 8th. International Business Machines's payout ratio is currently 109.09%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Royal Bank Of Canada raised their price target on International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. UBS Group raised their price target on International Business Machines from $195.00 to $200.00 and gave the stock a "sell" rating in a research report on Thursday, July 24th. The Goldman Sachs Group lifted their target price on International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. lifted their target price on International Business Machines from $244.00 to $290.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Finally, BMO Capital Markets lifted their target price on International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, International Business Machines currently has a consensus rating of "Hold" and a consensus price target of $275.00.

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.

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.