Webster Bank N. A. Sells 2,094 Shares of International Business Machines Corporation $IBM

Key Points

• Webster Bank N. A. reduced its stake in International Business Machines Corporation (IBM) by 14.8%, selling 2,094 shares and holding a total of 12,027 shares valued at $3,545,000.
• IBM reported $16.98 billion in revenue for the last quarter, exceeding analyst expectations, with an earnings per share (EPS) of $2.80, up from $2.43 during the same quarter last year.
• The company announced a quarterly dividend of $1.68 per share, resulting in an annualized dividend yield of 2.7%, despite a high payout ratio of 109.09%.

Webster Bank N. A. lowered its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 14.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,027 shares of the technology company's stock after selling 2,094 shares during the period. Webster Bank N. A.'s holdings in International Business Machines were worth $3,545,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. MinichMacGregor Wealth Management LLC bought a new stake in shares of International Business Machines during the 1st quarter valued at $396,000. Brooklyn Investment Group raised its position in International Business Machines by 32.7% in the 1st quarter. Brooklyn Investment Group now owns 6,622 shares of the technology company's stock worth $1,647,000 after buying an additional 1,630 shares during the last quarter. Edgar Lomax Co. VA raised its position in International Business Machines by 5.7% in the 1st quarter. Edgar Lomax Co. VA now owns 235,967 shares of the technology company's stock worth $58,676,000 after buying an additional 12,690 shares during the last quarter. Left Brain Wealth Management LLC grew its stake in shares of International Business Machines by 1,547.8% during the 1st quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company's stock valued at $4,392,000 after purchasing an additional 16,592 shares during the period. Finally, Alpha Cubed Investments LLC grew its stake in shares of International Business Machines by 47.0% during the 1st quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company's stock valued at $1,867,000 after purchasing an additional 2,399 shares during the period. Institutional investors own 58.96% of the company's stock.

International Business Machines Price Performance

IBM opened at $253.46 on Monday. International Business Machines Corporation has a 12-month low of $203.51 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 business's fifty day simple moving average is $257.59 and its 200-day simple moving average is $256.96. The company has a market capitalization of $235.57 billion, a price-to-earnings ratio of 41.15, a PEG ratio of 3.90 and a beta of 0.71.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $16.98 billion for the quarter, compared to the consensus estimate of $16.58 billion. During the same quarter in the prior year, the company earned $2.43 EPS. The business's revenue was up 7.7% compared to the same quarter last year. International Business Machines has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate 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 disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were given a dividend of $1.68 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $6.72 dividend on an annualized basis and a yield of 2.7%. International Business Machines's dividend payout ratio (DPR) is presently 109.09%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on IBM shares. JPMorgan Chase & Co. boosted their price target on International Business Machines from $244.00 to $290.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. 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. Melius Research upgraded International Business Machines to a "strong-buy" rating in a research note on Monday, July 7th. Erste Group Bank cut International Business Machines from a "buy" rating to a "hold" rating in a report on Thursday, August 14th. Finally, Wedbush upped their price objective on International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $270.67.

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.

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