Patton Fund Management Inc. Sells 23,506 Shares of International Business Machines Corporation $IBM

Patton Fund Management Inc. lessened its stake in shares of International Business Machines Corporation (NYSE:IBM) by 93.7% during the 1st quarter, HoldingsChannel reports. The firm owned 1,573 shares of the technology company’s stock after selling 23,506 shares during the quarter. Patton Fund Management Inc.’s holdings in International Business Machines were worth $381,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of IBM. Family CFO Inc bought a new stake in shares of International Business Machines during the 4th quarter worth $25,000. Basepoint Wealth LLC bought a new position in International Business Machines in the 4th quarter worth $25,000. Joseph Group Capital Management bought a new position in International Business Machines in the 4th quarter worth $28,000. Cornerstone Financial Management LLC acquired a new position in International Business Machines during the 4th quarter worth $28,000. Finally, SWAN Capital LLC acquired a new position in International Business Machines during the 3rd quarter worth $28,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Down 0.1%

Shares of IBM opened at $271.36 on Monday. 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 capitalization of $255.05 billion, a price-to-earnings ratio of 23.99, a P/E/G ratio of 2.81 and a beta of 0.66. The stock’s 50-day moving average price is $253.83 and its 200 day moving average price is $266.96.

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, topping analysts’ consensus estimates of $1.81 by $0.10. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The company had revenue of $15.92 billion during the quarter, compared to the consensus estimate of $15.60 billion. During the same quarter last year, the company earned $1.60 EPS. The company’s quarterly revenue was up 9.5% on a year-over-year basis. As a group, research analysts predict that International Business Machines Corporation will post 12.39 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 8th were paid a $1.69 dividend. The ex-dividend date was Friday, May 8th. This is a positive change from International Business Machines’s previous quarterly dividend of $1.68. This represents a $6.76 dividend on an annualized basis and a dividend yield of 2.5%. International Business Machines’s dividend payout ratio is currently 59.77%.

Key Stories Impacting International Business Machines

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

• Positive Sentiment: IBM introduced a new “nanostack” chip architecture at the 0.7 nm node, with roughly 100 billion transistors on a fingernail-sized chip. Analysts at Wedbush said the development supports IBM’s long-term hardware ambitions as AI computing demand rises. IBM quantum foundry plan adds to long-term hardware strategy: Wedbush
• Positive Sentiment: Multiple reports said the announcement could extend Moore’s Law and improve chip performance and energy efficiency, reinforcing IBM’s relevance in next-generation AI infrastructure. IBM unveils tech for chip smaller than 1 nanometer in AI computing push
• Positive Sentiment: Investor sentiment also improved after commentary that the breakthrough positions IBM as a possible long-term winner in AI hardware, helping fuel the stock’s recent momentum. IBM Unveils Prototype for Sub-1-Nanometer AI Chip. Why It Matters.
• Neutral Sentiment: Some coverage noted the technology is still a research prototype and may not reach production for years, so the commercial impact is not immediate. IBM (IBM) Stock Surges 6% on Revolutionary Sub-Nanometer Chip Technology
• Negative Sentiment: One article argued IBM still faces skepticism from investors over execution and longer-term growth, even after the chip news, which could temper enthusiasm. 3 Reasons to Avoid IBM and 1 Stock to Buy Instead

Analysts Set New Price Targets

Several brokerages have recently issued reports on IBM. Stifel Nicolaus set a $290.00 price target on International Business Machines in a research report on Friday, May 22nd. Wolfe Research cut International Business Machines to a “peer perform” rating in a research report on Tuesday, June 23rd. Wedbush set a $350.00 target price on International Business Machines in a research note on Tuesday, June 2nd. Wall Street Zen raised International Business Machines from a “sell” rating to a “hold” rating in a report on Sunday, June 21st. Finally, BMO Capital Markets dropped their price target on International Business Machines from $290.00 to $270.00 and set a “market perform” rating on the stock in a research report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $306.94.

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.