Schneider Downs Wealth Management Advisors LP Cuts Holdings in International Business Machines Corporation $IBM

Schneider Downs Wealth Management Advisors LP reduced its position in International Business Machines Corporation (NYSE:IBM) by 3.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,561 shares of the technology company’s stock after selling 53 shares during the quarter. Schneider Downs Wealth Management Advisors LP’s holdings in International Business Machines were worth $460,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in IBM. GQG Partners LLC purchased a new position in International Business Machines in the first quarter valued at about $1,040,057,000. Nuveen LLC purchased a new position in International Business Machines in the first quarter valued at about $960,386,000. Vanguard Group Inc. raised its position in International Business Machines by 1.4% in the first 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 during the period. Price T Rowe Associates Inc. MD raised its position in International Business Machines by 41.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,164,987 shares of the technology company’s stock valued at $787,007,000 after purchasing an additional 930,448 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in International Business Machines by 20.8% in the first 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 during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on IBM. Royal Bank Of Canada cut their price objective on International Business Machines from $315.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday. BMO Capital Markets raised their target price on International Business Machines from $300.00 to $305.00 and gave the company a “market perform” rating in a research note on Thursday. Sanford C. Bernstein assumed 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 for the company. JPMorgan Chase & Co. lifted their price target on International Business Machines from $244.00 to $290.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Finally, The Goldman Sachs Group lifted their price target on International Business Machines from $270.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $288.00.

International Business Machines Stock Performance

Shares of IBM stock opened at $307.78 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.93 and a debt-to-equity ratio of 1.97. The business has a 50 day moving average of $266.21 and a two-hundred day moving average of $263.87. International Business Machines Corporation has a 52 week low of $203.51 and a 52 week high of $310.75. The company has a market cap of $286.05 billion, a P/E ratio of 36.82, a PEG ratio of 4.69 and a beta of 0.73.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 22nd. The technology company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.20. The company had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.10 billion. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.International Business Machines’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.30 earnings per share. International Business Machines has set its FY 2025 guidance at EPS. As a group, analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th will be issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, November 10th. International Business Machines’s payout ratio is 80.38%.

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.