Proffitt & Goodson Inc. Cuts Stock Holdings in International Business Machines Corporation $IBM

Proffitt & Goodson Inc. lowered its stake in shares of International Business Machines Corporation (NYSE:IBM) by 51.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 324 shares of the technology company’s stock after selling 349 shares during the quarter. Proffitt & Goodson Inc.’s holdings in International Business Machines were worth $96,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of IBM. Vanguard Group Inc. boosted its stake in shares of International Business Machines by 1.4% during the first quarter. Vanguard Group Inc. now owns 93,137,767 shares of the technology company’s stock worth $23,159,637,000 after buying an additional 1,298,515 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of International Business Machines by 6.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,636,725 shares of the technology company’s stock worth $2,147,608,000 after purchasing an additional 524,633 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of International Business Machines by 1.0% during the 1st quarter. Ameriprise Financial Inc. now owns 5,516,240 shares of the technology company’s stock worth $1,371,812,000 after purchasing an additional 52,317 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in International Business Machines by 20.8% during the first quarter. Goldman Sachs Group Inc. now owns 5,157,846 shares of the technology company’s stock worth $1,282,550,000 after acquiring an additional 889,008 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in International Business Machines by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 5,108,455 shares of the technology company’s stock worth $1,270,022,000 after acquiring an additional 24,790 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Up 1.5%

Shares of NYSE:IBM opened at $293.84 on Wednesday. The stock has a market capitalization of $273.10 billion, a price-to-earnings ratio of 47.70, a PEG ratio of 4.46 and a beta of 0.73. International Business Machines Corporation has a 1-year low of $203.51 and a 1-year high of $301.04. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. The company has a 50 day moving average price of $256.34 and a 200 day moving average price of $259.93.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.65 by $0.15. The firm had revenue of $16.98 billion during the quarter, compared to analysts’ expectations of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. 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. On average, research analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were paid a $1.68 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $6.72 dividend on an annualized basis and a yield of 2.3%. International Business Machines’s dividend payout ratio (DPR) is currently 109.09%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on IBM. Wedbush lifted their price target on shares of International Business Machines from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, June 20th. The Goldman Sachs Group upped their target price on shares of International Business Machines from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. Stifel Nicolaus upped their target price on shares of International Business Machines from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. Wall Street Zen upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Finally, BMO Capital Markets increased their price objective on shares of International Business Machines from $260.00 to $300.00 and gave the stock a “market perform” rating in a research note on Friday, July 18th. One investment 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. According to data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and a consensus target price of $284.62.

International Business Machines 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.