USS Investment Management Ltd Sells 90,500 Shares of International Business Machines Corporation $IBM

Key Points

• USS Investment Management Ltd reduced its stake in International Business Machines Corporation by 38.3% during the first quarter, selling 90,500 shares and bringing its total ownership to 146,053 shares worth approximately $36.33 million.
• IBM recently reported $2.80 earnings per share for the last quarter, surpassing analysts' expectations of $2.65 and showing a 7.7% revenue increase year-over-year with total revenue of $16.98 billion.
• The company announced a quarterly dividend of $1.68 per share, representing an annualized yield of 2.7% and a payout ratio of 109.09%.

USS Investment Management Ltd reduced its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 38.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 146,053 shares of the technology company's stock after selling 90,500 shares during the quarter. USS Investment Management Ltd's holdings in International Business Machines were worth $36,331,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in IBM. Christopher J. Hasenberg Inc bought a new position in shares of International Business Machines in the first quarter valued at $27,000. SSA Swiss Advisors AG bought a new position in shares of International Business Machines in the first quarter valued at $28,000. Dagco Inc. bought a new position in shares of International Business Machines in the first quarter valued at $31,000. Measured Risk Portfolios Inc. bought a new position in shares of International Business Machines in the fourth quarter valued at $43,000. Finally, Park Square Financial Group LLC bought a new position in shares of International Business Machines in the fourth quarter valued at $43,000. 58.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

IBM has been the subject of several analyst reports. Stifel Nicolaus raised their target price on shares of International Business Machines from $290.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Wall Street Zen raised shares of International Business Machines from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Bank of America decreased their target price on shares of 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. BMO Capital Markets raised their target price on shares of International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a research note on Friday, July 18th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of International Business Machines from $244.00 to $290.00 and gave the stock 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 given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $268.75.

International Business Machines Stock Performance

IBM stock traded up $2.95 during midday trading on Tuesday, reaching $259.04. 4,927,569 shares of the company were exchanged, compared to its average volume of 4,685,110. The business has a 50-day moving average price of $260.31 and a two-hundred day moving average price of $256.97. The firm has a market capitalization of $240.75 billion, a price-to-earnings ratio of 42.05, a price-to-earnings-growth ratio of 3.83 and a beta of 0.71. International Business Machines Corporation has a one year low of $202.87 and a one year high of $296.16. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87.

International Business Machines (NYSE:IBM - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (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 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 business posted $2.43 earnings per share. International Business Machines has set its FY 2025 guidance at EPS. Equities research analysts forecast 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 will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th will be given a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.6%. 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.