Independence Bank of Kentucky Sells 200 Shares of International Business Machines Corporation $IBM

Independence Bank of Kentucky cut its stake in International Business Machines Corporation (NYSE:IBM) by 4.4% in the 2nd quarter, Holdings Channel reports. The firm owned 4,344 shares of the technology company’s stock after selling 200 shares during the period. Independence Bank of Kentucky’s holdings in International Business Machines were worth $1,281,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in International Business Machines by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 93,137,767 shares of the technology company’s stock worth $23,159,637,000 after purchasing an additional 1,298,515 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in International Business Machines by 6.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,636,725 shares of the technology company’s stock worth $2,147,608,000 after purchasing an additional 524,633 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of International Business Machines by 1.0% in the 1st quarter. Ameriprise Financial Inc. now owns 5,516,240 shares of the technology company’s stock worth $1,371,812,000 after acquiring an additional 52,317 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of International Business Machines by 20.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,157,846 shares of the technology company’s stock worth $1,282,550,000 after acquiring an additional 889,008 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of International Business Machines by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,108,455 shares of the technology company’s stock worth $1,270,022,000 after acquiring an additional 24,790 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Performance

Shares of IBM stock opened at $284.72 on Monday. International Business Machines Corporation has a one year low of $203.51 and a one year high of $296.16. The company’s 50-day moving average is $254.07 and its 200 day moving average is $258.11. The company has a market capitalization of $264.62 billion, a price-to-earnings ratio of 46.22, a price-to-earnings-growth ratio of 4.38 and a beta of 0.71. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 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 the consensus estimate 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 revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.43 EPS. International Business Machines has set its FY 2025 guidance at EPS. Sell-side analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, August 8th. International Business Machines’s dividend payout ratio (DPR) is presently 109.09%.

Analyst Ratings Changes

Several research analysts recently issued reports on IBM shares. Melius Research upgraded shares of International Business Machines to a “strong-buy” rating in a research note on Monday, July 7th. Erste Group Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Thursday, August 14th. UBS Group increased their price target on shares of International Business Machines from $195.00 to $200.00 and gave the stock a “sell” rating in a research note on Thursday, July 24th. Sanford C. Bernstein started coverage on shares of International Business Machines in a research note on Monday, September 15th. They issued a “market perform” rating and a $280.00 price target for the company. Finally, Bank of America decreased their price target 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. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently 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.