Glass Wealth Management Co LLC Trims Stock Holdings in International Business Machines Corporation $IBM

Glass Wealth Management Co LLC trimmed its stake in shares of International Business Machines Corporation (NYSE:IBM) by 8.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,950 shares of the technology company’s stock after selling 175 shares during the quarter. Glass Wealth Management Co LLC’s holdings in International Business Machines were worth $575,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of IBM. Brighton Jones LLC raised its position in shares of International Business Machines by 12.4% in the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock worth $4,619,000 after buying an additional 2,323 shares in the last quarter. Gateway Investment Advisers LLC grew its position in International Business Machines by 634.4% during the first quarter. Gateway Investment Advisers LLC now owns 40,401 shares of the technology company’s stock valued at $10,046,000 after acquiring an additional 34,900 shares during the last quarter. Sivia Capital Partners LLC raised its position in International Business Machines by 18.4% in the 1st quarter. Sivia Capital Partners LLC now owns 1,752 shares of the technology company’s stock worth $436,000 after purchasing an additional 272 shares during the period. Wedmont Private Capital lifted its stake in International Business Machines by 4.9% in the first quarter. Wedmont Private Capital now owns 11,953 shares of the technology company’s stock worth $2,815,000 after purchasing an additional 558 shares during the last quarter. Finally, Revolve Wealth Partners LLC lifted its position in International Business Machines by 8.2% in the first quarter. Revolve Wealth Partners LLC now owns 2,145 shares of the technology company’s stock valued at $533,000 after purchasing an additional 163 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. UBS Group increased their target price on shares of International Business Machines from $195.00 to $200.00 and gave the stock a “sell” rating in a report on Thursday, July 24th. Melius Research raised International Business Machines to a “strong-buy” rating in a research report on Monday, July 7th. Wedbush boosted their price target on International Business Machines from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, June 20th. Weiss Ratings restated a “hold (c+)” rating on shares of International Business Machines in a report on Saturday, September 27th. Finally, Sanford C. Bernstein initiated coverage on shares of International Business Machines in a report on Monday, September 15th. They issued a “market perform” rating and a $280.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, International Business Machines presently has an average rating of “Hold” and a consensus target price of $284.62.

International Business Machines Trading Up 0.7%

NYSE:IBM opened at $288.62 on Monday. 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 firm has a market capitalization of $268.25 billion, a price-to-earnings ratio of 46.85, a price-to-earnings-growth ratio of 4.44 and a beta of 0.73. International Business Machines Corporation has a one year low of $203.51 and a one year high of $296.16. The business has a fifty day moving average price of $255.18 and a 200-day moving average price of $259.38.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.65 by $0.15. The firm had revenue of $16.98 billion during the quarter, compared to analyst estimates of $16.58 billion. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.International Business Machines’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.43 EPS. International Business Machines has set its FY 2025 guidance at EPS. Sell-side analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were issued a $1.68 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $6.72 annualized dividend and a yield of 2.3%. International Business Machines’s dividend payout ratio is currently 109.09%.

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.