CFO Capital Management LLC Sells 2,771 Shares of International Business Machines Corporation $IBM

CFO Capital Management LLC trimmed its stake in International Business Machines Corporation (NYSE:IBM) by 32.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,897 shares of the technology company’s stock after selling 2,771 shares during the quarter. International Business Machines comprises about 1.1% of CFO Capital Management LLC’s holdings, making the stock its 22nd biggest position. CFO Capital Management LLC’s holdings in International Business Machines were worth $1,429,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Family CFO Inc bought a new stake in International Business Machines in the 4th quarter valued at about $25,000. Basepoint Wealth LLC bought a new position in International Business Machines in the fourth quarter worth approximately $25,000. Portus Wealth Advisors LLC bought a new position in International Business Machines in the first quarter worth approximately $26,000. SWAN Capital LLC acquired a new stake in International Business Machines in the third quarter valued at approximately $28,000. Finally, Joseph Group Capital Management bought a new stake in shares of International Business Machines during the fourth quarter valued at approximately $28,000. 58.96% of the stock is owned by institutional investors.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $216.59 on Wednesday. The company has a market capitalization of $203.57 billion, a P/E ratio of 19.15, a price-to-earnings-growth ratio of 2.80 and a beta of 0.68. The company’s 50-day moving average is $264.70 and its 200 day moving average is $265.20. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.80. International Business Machines Corporation has a fifty-two week low of $212.34 and a fifty-two week high of $332.46.

International Business Machines (NYSE:IBM) last posted 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 during the quarter, compared to the consensus estimate of $15.60 billion. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.60 earnings per share. On average, equities research analysts forecast that International Business Machines Corporation will post 12.45 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th were paid a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Friday, May 8th. This is an increase from International Business Machines’s previous quarterly dividend of $1.68. International Business Machines’s dividend payout ratio (DPR) is 59.77%.

Wall Street Analyst Weigh In

IBM has been the subject of a number of analyst reports. DZ Bank raised International Business Machines from a “hold” rating to a “buy” rating and set a $295.00 price target for the company in a research report on Friday, April 24th. Roth Capital reaffirmed a “buy” rating on shares of International Business Machines in a report on Wednesday, June 3rd. Weiss Ratings lowered shares of International Business Machines from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, June 24th. Jefferies Financial Group initiated coverage on shares of International Business Machines in a report on Tuesday, June 23rd. They issued a “buy” rating for the company. Finally, Bank of America raised their price target on shares of International Business Machines from $315.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, July 6th. Fourteen equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, International Business Machines presently has a consensus rating of “Moderate Buy” and a consensus price target of $307.17.

Key Headlines Impacting International Business Machines

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

International Business Machines Profile

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.