OLD Point Trust & Financial Services N A Decreases Position in International Business Machines Corporation $IBM

OLD Point Trust & Financial Services N A decreased its holdings in International Business Machines Corporation (NYSE:IBM) by 14.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,437 shares of the technology company’s stock after selling 2,098 shares during the quarter. International Business Machines makes up 1.3% of OLD Point Trust & Financial Services N A’s portfolio, making the stock its 24th biggest position. OLD Point Trust & Financial Services N A’s holdings in International Business Machines were worth $3,666,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of 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 valued at $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 position in shares of 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 valued at $2,147,608,000 after purchasing an additional 524,633 shares in the last quarter. Ameriprise Financial Inc. raised its position 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 valued at $1,371,812,000 after purchasing an additional 52,317 shares in the last quarter. Goldman Sachs Group Inc. raised its position 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 valued at $1,282,550,000 after purchasing an additional 889,008 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position 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 valued at $1,270,022,000 after purchasing an additional 24,790 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Up 0.9%

IBM opened at $282.19 on Wednesday. International Business Machines Corporation has a 12 month low of $203.51 and a 12 month 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. The stock has a market cap of $262.27 billion, a P/E ratio of 45.81, a P/E/G ratio of 4.31 and a beta of 0.71. The stock’s 50 day moving average price is $253.98 and its 200 day moving average price is $258.50.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, beating 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 firm had revenue of $16.98 billion for the quarter, compared to analysts’ expectations of $16.58 billion. During the same period last year, the firm 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. As a group, research analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were paid a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a 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%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Melius Research upgraded International Business Machines to a “strong-buy” rating in a research note on Monday, July 7th. Royal Bank Of Canada upped their price objective on International Business Machines from $285.00 to $315.00 and gave the company an “outperform” rating in a research note on Thursday, July 17th. BMO Capital Markets upped their price objective on 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. JPMorgan Chase & Co. upped their price objective 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. Finally, The Goldman Sachs Group upped their price objective on International Business Machines from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $275.00.

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.