Zullo Investment Group Inc. Sells 5,162 Shares of International Business Machines Corporation $IBM

Key Points

• Zullo Investment Group Inc. sold 5,162 shares of International Business Machines Corporation (IBM), reducing its holdings by 53% and leaving them with 4,585 shares valued at approximately $1.35 million.
• Analysts have set varying price targets for IBM, with JPMorgan raising it to $290 and BMO Capital increasing it to $300, while the stock currently has an average target price of $284.62.
• IBM reported earnings of $2.80 EPS for the last quarter, exceeding estimates, with a revenue increase of 7.7% year-over-year, leading to a quarterly dividend announcement of $1.68 per share.

Zullo Investment Group Inc. trimmed its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 53.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,585 shares of the technology company's stock after selling 5,162 shares during the quarter. Zullo Investment Group Inc.'s holdings in International Business Machines were worth $1,352,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Family CFO Inc acquired a new stake in International Business Machines during the second quarter worth about $25,000. Christopher J. Hasenberg Inc acquired a new stake in International Business Machines during the first quarter worth about $27,000. SSA Swiss Advisors AG acquired a new stake in International Business Machines during the first quarter worth about $28,000. Highline Wealth Partners LLC grew its stake in 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 buying an additional 51 shares in the last quarter. Finally, Dagco Inc. acquired a new stake in International Business Machines during the first quarter worth about $31,000. 58.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on IBM. JPMorgan Chase & Co. increased 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 note on Thursday, July 24th. Wall Street Zen upgraded shares of International Business Machines from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Erste Group Bank downgraded shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Thursday, August 14th. Bank of America decreased their price target on shares of International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a report on Thursday, July 24th. Finally, BMO Capital Markets lifted their price target on shares of International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $284.62.

International Business Machines Stock Down 3.5%

NYSE:IBM opened at $278.09 on Friday. The firm's 50 day simple moving average is $258.19 and its 200 day simple moving average is $260.60. 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 Corporation has a one year low of $203.51 and a one year high of $301.04. The company has a market cap of $258.45 billion, a PE ratio of 45.14, a P/E/G ratio of 4.44 and a beta of 0.73.

International Business Machines (NYSE:IBM - Get Free Report) last posted 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 net margin of 9.11% and a return on equity of 37.62%. The business had revenue of $16.98 billion for the quarter, compared to the consensus estimate of $16.58 billion. During the same period last year, the company earned $2.43 EPS. The firm'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, research analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently announced 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 was Friday, August 8th. This represents a $6.72 annualized dividend and a yield of 2.4%. International Business Machines's dividend payout ratio (DPR) is currently 109.09%.

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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