Levin Capital Strategies L.P. Trims Position in International Business Machines Corporation $IBM

Levin Capital Strategies L.P. cut its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 2.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 48,159 shares of the technology company’s stock after selling 965 shares during the quarter. International Business Machines accounts for about 1.4% of Levin Capital Strategies L.P.’s portfolio, making the stock its 26th largest holding. Levin Capital Strategies L.P.’s holdings in International Business Machines were worth $14,196,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in IBM. Connable Office Inc. purchased a new stake in International Business Machines during the second quarter worth $1,777,000. Obermeyer Wealth Partners boosted its holdings in International Business Machines by 37.2% during the second quarter. Obermeyer Wealth Partners now owns 3,303 shares of the technology company’s stock worth $974,000 after buying an additional 895 shares in the last quarter. Bridgewater Advisors Inc. boosted its holdings in International Business Machines by 2.2% during the second quarter. Bridgewater Advisors Inc. now owns 10,491 shares of the technology company’s stock worth $3,093,000 after buying an additional 227 shares in the last quarter. Freestone Capital Holdings LLC boosted its holdings in International Business Machines by 3.0% during the second quarter. Freestone Capital Holdings LLC now owns 14,028 shares of the technology company’s stock worth $4,135,000 after buying an additional 413 shares in the last quarter. Finally, Wellington Shields Capital Management LLC boosted its holdings in International Business Machines by 19.1% during the second quarter. Wellington Shields Capital Management LLC now owns 21,869 shares of the technology company’s stock worth $6,447,000 after buying an additional 3,500 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. BMO Capital Markets increased their price target 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. Bank of America boosted their price target on shares of International Business Machines from $310.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Sanford C. Bernstein assumed coverage on shares of International Business Machines in a report on Monday, September 15th. They issued a “market perform” rating and a $280.00 price target for the company. Wall Street Zen raised shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Sunday, October 26th. Finally, Melius Research raised shares of International Business Machines to a “strong-buy” rating in a report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $288.00.

International Business Machines Price Performance

Shares of NYSE IBM opened at $304.67 on Tuesday. The firm has a 50-day simple moving average of $274.46 and a 200-day simple moving average of $267.32. The stock has a market capitalization of $284.79 billion, a price-to-earnings ratio of 36.44, a price-to-earnings-growth ratio of 4.33 and a beta of 0.73. 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 52 week low of $204.07 and a 52 week high of $319.35.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 22nd. The technology company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.20. The business had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.10 billion. International Business Machines had a net margin of 12.09% and a return on equity of 37.76%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.30 earnings per share. International Business Machines has set its FY 2025 guidance at EPS. On average, equities analysts predict 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 will be paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th will be given a $1.68 dividend. 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 dividend payout ratio is 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.