Confluence Wealth Services Inc. Sells 58 Shares of International Business Machines Corporation $IBM

Confluence Wealth Services Inc. cut its stake in International Business Machines Corporation (NYSE:IBM) by 0.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,645 shares of the technology company’s stock after selling 58 shares during the period. Confluence Wealth Services Inc.’s holdings in International Business Machines were worth $4,317,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Family CFO Inc acquired a new stake in International Business Machines during the second quarter worth about $25,000. Christopher J. Hasenberg Inc acquired a new position in shares of International Business Machines in the 1st quarter valued at approximately $27,000. SSA Swiss Advisors AG bought a new stake in shares of International Business Machines during the 1st quarter worth approximately $28,000. Dagco Inc. acquired a new stake in shares of International Business Machines during the 1st quarter worth approximately $31,000. Finally, Silicon Valley Capital Partners boosted its position in shares of International Business Machines by 322.6% during the 1st quarter. Silicon Valley Capital Partners now owns 131 shares of the technology company’s stock worth $32,000 after acquiring an additional 100 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on IBM shares. Wall Street Zen upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Bank of America decreased 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. JPMorgan Chase & Co. boosted their price target on International Business Machines from $244.00 to $290.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. UBS Group raised their price objective on International Business Machines from $195.00 to $200.00 and gave the company a “sell” rating in a research note on Thursday, July 24th. Finally, Royal Bank Of Canada boosted their target price on International Business Machines from $285.00 to $315.00 and gave the stock an “outperform” rating in a research note on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $284.62.

International Business Machines Price Performance

Shares of IBM opened at $288.62 on Monday. International Business Machines Corporation has a 12-month low of $203.51 and a 12-month high of $296.16. The business has a 50-day simple moving average of $255.18 and a two-hundred day simple moving average of $259.38. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. The stock has a market cap of $268.25 billion, a PE ratio of 46.85, a PEG ratio of 4.44 and a beta of 0.73.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $2.65 by $0.15. The firm had revenue of $16.98 billion for the quarter, compared to analyst estimates of $16.58 billion. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the firm posted $2.43 earnings per share. International Business Machines has set its FY 2025 guidance at EPS. Analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Friday, August 8th. International Business Machines’s payout ratio is presently 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.