Parr Mcknight Wealth Management Group LLC Reduces Stock Holdings in International Business Machines Corporation $IBM

Parr Mcknight Wealth Management Group LLC trimmed its position in shares of International Business Machines Corporation (NYSE:IBM) by 73.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 3,675 shares of the technology company’s stock after selling 10,337 shares during the quarter. Parr Mcknight Wealth Management Group LLC’s holdings in International Business Machines were worth $891,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of International Business Machines by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 97,216,131 shares of the technology company’s stock valued at $28,796,390,000 after purchasing an additional 1,439,824 shares during the period. State Street Corp boosted its holdings in International Business Machines by 1.0% in the 4th quarter. State Street Corp now owns 54,996,293 shares of the technology company’s stock worth $16,290,452,000 after buying an additional 518,321 shares during the period. Geode Capital Management LLC grew its stake in International Business Machines by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 22,605,083 shares of the technology company’s stock valued at $6,679,105,000 after buying an additional 336,069 shares in the last quarter. Capital World Investors raised its holdings in International Business Machines by 29.2% during the 4th quarter. Capital World Investors now owns 22,021,912 shares of the technology company’s stock valued at $6,523,720,000 after acquiring an additional 4,976,756 shares during the period. Finally, Norges Bank purchased a new stake in shares of International Business Machines during the fourth quarter worth $2,446,429,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Key International Business Machines News

Here are the key news stories impacting International Business Machines this week:

• Positive Sentiment: Jim Cramer called IBM inexpensive, praised CEO Arvind Krishna’s execution, and suggested buying the stock, reinforcing the bullish view that the company is undervalued. Jim Cramer on IBM: “It’s Inexpensive and Arvind Krishna’s Doing a Fantastic Job”
• Positive Sentiment: IBM unveiled major updates to its Bob AI platform, which could improve its competitive position in enterprise AI and support the stock’s growth narrative. IBM Just Unveiled Major Updates to Its Bob AI Platform. How to Play IBM Stock Here.
• Positive Sentiment: Market commentary on IBM’s quantum efforts and its presence in a Capitol Hill quantum tech showcase kept attention on the company’s long-term technology upside. Quantum Tech on Capitol Hill: Nvidia, IBM and More Stocks to Watch
• Positive Sentiment: Analysts and media reports framed IBM as a potential dividend-and-growth name, suggesting investors still see defensive appeal alongside capital appreciation potential. 3 Dividend Stocks with Growth on Tap for the Second Half
• Neutral Sentiment: Several articles debated IBM’s place in the AI trade and whether it can remain steady through an AI “reset,” but these pieces were more about positioning than a clear new catalyst. Can IBM (NYSE:IBM) Stay Steady Through the AI Reset?
• Neutral Sentiment: A comparison article argued HubSpot has the edge over IBM on faster growth and valuation, which is a mild reminder that IBM still faces competition for AI investor dollars. HubSpot vs. IBM: Which AI Software Stock is a Better Buy Now?

International Business Machines Trading Up 1.0%

Shares of IBM stock opened at $290.46 on Tuesday. The business has a 50-day moving average price of $264.95 and a two-hundred day moving average price of $265.82. International Business Machines Corporation has a 12-month low of $212.34 and a 12-month high of $332.46. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.75. The firm has a market cap of $273.00 billion, a P/E ratio of 25.68, a price-to-earnings-growth ratio of 2.78 and a beta of 0.68.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, April 22nd. The technology company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.81 by $0.10. The firm had revenue of $15.92 billion for the quarter, compared to analyst estimates of $15.60 billion. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The company’s revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.60 EPS. Equities analysts anticipate that International Business Machines Corporation will post 12.45 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th were issued a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Friday, May 8th. This is a positive change from International Business Machines’s previous quarterly dividend of $1.68. International Business Machines’s dividend payout ratio (DPR) is presently 59.77%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Wedbush set a $350.00 price target on International Business Machines in a research report on Tuesday, June 2nd. Stifel Nicolaus set a $290.00 target price on International Business Machines in a research note on Friday, May 22nd. Wolfe Research lowered International Business Machines to a “peer perform” rating in a report on Tuesday, June 23rd. JPMorgan Chase & Co. upgraded International Business Machines from a “neutral” rating to an “overweight” rating and upped their price target for the company from $270.00 to $291.00 in a research report on Tuesday, June 23rd. Finally, Susquehanna started coverage on shares of International Business Machines in a research report on Friday. They issued a “neutral” rating and a $303.00 price objective for the company. Sixteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $306.28.

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.