Penbrook Management LLC Sells 863 Shares of International Business Machines Corporation $IBM

Penbrook Management LLC lowered its stake in International Business Machines Corporation (NYSE:IBM) by 34.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,662 shares of the technology company’s stock after selling 863 shares during the quarter. Penbrook Management LLC’s holdings in International Business Machines were worth $490,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in IBM. Brighton Jones LLC increased its stake in shares of International Business Machines by 12.4% during the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock valued at $4,619,000 after buying an additional 2,323 shares during the period. GAMMA Investing LLC increased its stake in shares of International Business Machines by 19.3% during the first quarter. GAMMA Investing LLC now owns 17,694 shares of the technology company’s stock valued at $4,400,000 after buying an additional 2,862 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of International Business Machines by 27.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,158,366 shares of the technology company’s stock valued at $288,039,000 after buying an additional 250,283 shares during the period. Dohj LLC purchased a new position in shares of International Business Machines during the first quarter valued at approximately $225,000. Finally, Ritholtz Wealth Management increased its stake in shares of International Business Machines by 20.1% during the first quarter. Ritholtz Wealth Management now owns 14,115 shares of the technology company’s stock valued at $3,510,000 after buying an additional 2,362 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Royal Bank Of Canada boosted their target price 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. Wall Street Zen raised International Business Machines from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Wedbush upped their price target on International Business Machines from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, June 20th. Bank of America reduced their price target on International Business Machines from $320.00 to $310.00 and set a “buy” rating on the stock in a research note on Thursday, July 24th. Finally, Sanford C. Bernstein began coverage on International Business Machines in a research note on Monday, September 15th. They issued a “market perform” rating and a $280.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $284.62.

International Business Machines Trading Down 0.2%

NYSE IBM opened at $277.21 on Tuesday. International Business Machines Corporation has a 12 month low of $203.51 and a 12 month high of $301.04. The stock has a market cap of $257.64 billion, a P/E ratio of 45.00, a P/E/G ratio of 4.28 and a beta of 0.73. The stock’s fifty day moving average price is $258.69 and its 200-day moving average price is $261.01. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, July 23rd. The technology company reported $2.80 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 firm had revenue of $16.98 billion for the quarter, compared to analysts’ expectations of $16.58 billion. During the same period in the prior year, the firm posted $2.43 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were paid a $1.68 dividend. 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 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.