Legacy Capital Group California Inc. Cuts Stake in International Business Machines Corporation $IBM

Legacy Capital Group California Inc. cut its holdings in International Business Machines Corporation (NYSE:IBM) by 62.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,642 shares of the technology company’s stock after selling 7,647 shares during the quarter. Legacy Capital Group California Inc.’s holdings in International Business Machines were worth $1,125,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. CVA Family Office LLC lifted its position in International Business Machines by 1.4% during the fourth quarter. CVA Family Office LLC now owns 2,389 shares of the technology company’s stock valued at $708,000 after purchasing an additional 33 shares in the last quarter. Foster Group Inc. boosted its stake in International Business Machines by 1.3% in the 4th quarter. Foster Group Inc. now owns 2,507 shares of the technology company’s stock worth $742,000 after purchasing an additional 33 shares during the period. New Covenant Trust Company N.A. grew its stake in International Business Machines by 3.8% during the fourth quarter. New Covenant Trust Company N.A. now owns 905 shares of the technology company’s stock valued at $264,000 after acquiring an additional 33 shares in the last quarter. McGowan Group Asset Management Inc. grew its position in shares of International Business Machines by 1.2% during the fourth quarter. McGowan Group Asset Management Inc. now owns 2,693 shares of the technology company’s stock valued at $798,000 after purchasing an additional 33 shares in the last quarter. Finally, Sandbox Financial Partners LLC grew its holdings in International Business Machines by 0.4% during the 4th quarter. Sandbox Financial Partners LLC now owns 8,969 shares of the technology company’s stock valued at $2,657,000 after buying an additional 34 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Key International Business Machines News

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

• Positive Sentiment: Jim Cramer called IBM inexpensive, praised CEO Arvind Krishna’s execution, and suggested buying the stock, reinforcing the bullish view that the company is undervalued. Jim Cramer on IBM: “It’s Inexpensive and Arvind Krishna’s Doing a Fantastic Job”
• Positive Sentiment: IBM unveiled major updates to its Bob AI platform, which could improve its competitive position in enterprise AI and support the stock’s growth narrative. IBM Just Unveiled Major Updates to Its Bob AI Platform. How to Play IBM Stock Here.
• Positive Sentiment: Market commentary on IBM’s quantum efforts and its presence in a Capitol Hill quantum tech showcase kept attention on the company’s long-term technology upside. Quantum Tech on Capitol Hill: Nvidia, IBM and More Stocks to Watch
• Positive Sentiment: Analysts and media reports framed IBM as a potential dividend-and-growth name, suggesting investors still see defensive appeal alongside capital appreciation potential. 3 Dividend Stocks with Growth on Tap for the Second Half
• Neutral Sentiment: Several articles debated IBM’s place in the AI trade and whether it can remain steady through an AI “reset,” but these pieces were more about positioning than a clear new catalyst. Can IBM (NYSE:IBM) Stay Steady Through the AI Reset?
• Neutral Sentiment: A comparison article argued HubSpot has the edge over IBM on faster growth and valuation, which is a mild reminder that IBM still faces competition for AI investor dollars. HubSpot vs. IBM: Which AI Software Stock is a Better Buy Now?

Analysts Set New Price Targets

IBM has been the topic of several analyst reports. KeyCorp cut International Business Machines to a “sector weight” rating in a research note on Tuesday, June 23rd. Roth Capital reaffirmed a “buy” rating on shares of International Business Machines in a research note on Wednesday, June 3rd. JPMorgan Chase & Co. upgraded International Business Machines from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $270.00 to $291.00 in a report on Tuesday, June 23rd. Bank of America boosted their price target on shares of International Business Machines from $315.00 to $330.00 and gave the company a “buy” rating in a report on Monday, July 6th. Finally, Wolfe Research downgraded International Business Machines to a “peer perform” rating in a report on Tuesday, June 23rd. Sixteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $306.28.

International Business Machines Price Performance

NYSE:IBM opened at $290.46 on Tuesday. The company has a 50 day moving average price of $264.95 and a 200-day moving average price of $265.82. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.80 and a quick ratio of 0.76. International Business Machines Corporation has a 1-year low of $212.34 and a 1-year high of $332.46. The firm has a market cap of $273.00 billion, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 2.78 and a beta of 0.68.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 37.23% and a net margin of 15.61%.The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.60 EPS. Equities research analysts forecast that International Business Machines Corporation will post 12.45 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th were paid a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a yield of 2.3%. This is a positive change 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 Company 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.