Genus Capital Management Inc. Sells 5,865 Shares of International Business Machines Corporation $IBM

Genus Capital Management Inc. trimmed its position in International Business Machines Corporation (NYSE:IBM) by 8.0% during the second quarter, HoldingsChannel.com reports. The fund owned 67,504 shares of the technology company’s stock after selling 5,865 shares during the period. International Business Machines makes up approximately 2.5% of Genus Capital Management Inc.’s investment portfolio, making the stock its 4th biggest holding. Genus Capital Management Inc.’s holdings in International Business Machines were worth $19,899,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Family CFO Inc acquired a new stake in International Business Machines during the 2nd quarter worth $25,000. Christopher J. Hasenberg Inc acquired a new stake in International Business Machines during the 1st quarter worth $27,000. SSA Swiss Advisors AG acquired a new stake in International Business Machines during the 1st quarter worth $28,000. Highline Wealth Partners LLC raised its stake in International Business Machines by 85.0% during the 2nd quarter. Highline Wealth Partners LLC now owns 111 shares of the technology company’s stock worth $33,000 after buying an additional 51 shares during the period. Finally, Dagco Inc. acquired a new stake in International Business Machines during the 1st quarter worth approximately $31,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Ratings Changes

IBM has been the topic of several research analyst reports. BMO Capital Markets raised their target price on shares of International Business Machines from $300.00 to $305.00 and gave the stock a “market perform” rating in a report on Thursday, October 23rd. Jefferies Financial Group raised their target price on shares of International Business Machines from $280.00 to $305.00 and gave the stock a “hold” rating in a report on Tuesday, October 21st. Royal Bank Of Canada dropped their target price on shares of International Business Machines from $315.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday, October 23rd. Stifel Nicolaus dropped their target price on shares of International Business Machines from $310.00 to $295.00 and set a “buy” rating on the stock in a report on Thursday, October 23rd. Finally, Erste Group Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $288.00.

International Business Machines Price Performance

NYSE IBM opened at $300.42 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 1.97. International Business Machines Corporation has a 12-month low of $204.07 and a 12-month high of $319.35. The company has a market capitalization of $280.81 billion, a PE ratio of 35.94, a price-to-earnings-growth ratio of 4.33 and a beta of 0.73. The firm’s 50 day moving average is $275.62 and its 200-day moving average is $267.76.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 22nd. The technology company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.20. The business had revenue of $16.33 billion for the quarter, compared to the consensus estimate of $16.10 billion. International Business Machines had a net margin of 12.09% and a return on equity of 37.76%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.30 earnings per share. International Business Machines has set its FY 2025 guidance at EPS. Equities research analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th will be issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Monday, November 10th. International Business Machines’s payout ratio is currently 80.38%.

About International Business Machines

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.