Sanctuary Advisors LLC Sells 4,251 Shares of International Business Machines Corporation $IBM

Sanctuary Advisors LLC cut its stake in shares of International Business Machines Corporation (NYSE:IBM) by 1.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 264,484 shares of the technology company’s stock after selling 4,251 shares during the period. Sanctuary Advisors LLC’s holdings in International Business Machines were worth $64,108,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its holdings in International Business Machines by 424.6% during the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 260,740 shares of the technology company’s stock valued at $77,234,000 after purchasing an additional 211,040 shares in the last quarter. GLOBALT Investments LLC GA raised its position in shares of International Business Machines by 19.1% during the 4th quarter. GLOBALT Investments LLC GA now owns 18,288 shares of the technology company’s stock valued at $5,417,000 after purchasing an additional 2,930 shares during the period. Newbridge Financial Services Group Inc. lifted its stake in shares of International Business Machines by 30.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 13,122 shares of the technology company’s stock valued at $3,887,000 after buying an additional 3,029 shares in the last quarter. Rice Partnership LLC purchased a new position in shares of International Business Machines during the 4th quarter valued at $3,317,000. Finally, Sage Investment Advisers LLC bought a new position in International Business Machines in the 4th quarter worth $4,101,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of International Business Machines stock opened at $216.59 on Wednesday. The firm has a market cap of $203.57 billion, a PE ratio of 19.15, a PEG ratio of 2.80 and a beta of 0.68. The stock has a 50 day moving average of $264.70 and a 200 day moving average of $265.20. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75. International Business Machines Corporation has a 12 month low of $212.34 and a 12 month high of $332.46.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.81 by $0.10. The business had revenue of $15.92 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.60 EPS. On average, research analysts expect that International Business Machines Corporation will post 12.45 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors 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 3.1%. This is a boost from International Business Machines’s previous quarterly dividend of $1.68. The ex-dividend date of this dividend was Friday, May 8th. International Business Machines’s payout ratio is 59.77%.

International Business Machines News Summary

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

• Negative Sentiment: IBM reported preliminary Q2 revenue of about $17.2 billion and adjusted EPS of $2.93, both below estimates, raising concerns about near-term growth and execution. Reuters: IBM expects second-quarter revenue below estimates
• Negative Sentiment: CEO Arvind Krishna said the company “faltered,” citing delayed deal closures and customers shifting budgets toward AI infrastructure and memory chips, which hurt software and infrastructure sales. CNBC: IBM warns second-quarter earnings fell short of expectations
• Negative Sentiment: The warning is dragging other software and IT services names lower, reinforcing fears that enterprise spending is moving away from traditional software vendors and toward AI hardware/cybersecurity. Investor’s Business Daily: Stock Market Jumps As Inflation Eases; IBM Warns

Analyst Ratings Changes

A number of equities research analysts have commented on IBM shares. Wolfe Research cut International Business Machines to a “peer perform” rating in a report on Tuesday, June 23rd. Oppenheimer cut International Business Machines from an “outperform” rating to a “market perform” rating in a research report on Wednesday. JPMorgan Chase & Co. raised International Business Machines from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $270.00 to $291.00 in a research note on Tuesday, June 23rd. Wedbush set a $350.00 price target on International Business Machines in a report on Tuesday, June 2nd. Finally, Weiss Ratings downgraded International Business Machines from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, June 24th. Fourteen research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $307.17.

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.