PNC Financial Services Group Inc. Sells 12,927 Shares of International Business Machines Corporation $IBM

PNC Financial Services Group Inc. trimmed its stake in shares of International Business Machines Corporation (NYSE:IBM) by 1.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,167,890 shares of the technology company’s stock after selling 12,927 shares during the quarter. PNC Financial Services Group Inc. owned about 0.13% of International Business Machines worth $344,271,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of IBM. Kelleher Financial Advisors increased its stake in International Business Machines by 12.0% during the 2nd quarter. Kelleher Financial Advisors now owns 2,800 shares of the technology company’s stock worth $825,000 after acquiring an additional 300 shares during the period. Tobam bought a new position in International Business Machines in the 2nd quarter valued at about $65,000. Wealth Alliance LLC raised its position in shares of International Business Machines by 2.5% in the 2nd quarter. Wealth Alliance LLC now owns 6,155 shares of the technology company’s stock valued at $1,815,000 after buying an additional 148 shares in the last quarter. SBI Securities Co. Ltd. boosted its position in shares of International Business Machines by 0.3% during the 2nd quarter. SBI Securities Co. Ltd. now owns 89,800 shares of the technology company’s stock worth $26,471,000 after acquiring an additional 309 shares in the last quarter. Finally, Advyzon Investment Management LLC increased its stake in International Business Machines by 3.4% in the second quarter. Advyzon Investment Management LLC now owns 1,472 shares of the technology company’s stock valued at $434,000 after acquiring an additional 48 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $313.98 on Wednesday. The business has a 50-day simple moving average of $282.22 and a 200 day simple moving average of $270.32. International Business Machines Corporation has a one year low of $204.07 and a one year high of $319.35. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.93 and a quick ratio of 0.89. The firm has a market capitalization of $293.49 billion, a price-to-earnings ratio of 37.56, a PEG ratio of 4.33 and a beta of 0.71.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 22nd. The technology company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.45 by $0.20. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.The firm had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.10 billion. During the same quarter in the previous year, the company posted $2.30 earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis. 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 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. Shareholders of record on Monday, November 10th will be issued a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Monday, November 10th. International Business Machines’s dividend payout ratio is 80.38%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on IBM shares. Morgan Stanley decreased their target price on International Business Machines from $256.00 to $252.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 23rd. UBS Group boosted their price objective on International Business Machines from $200.00 to $210.00 and gave the stock a “sell” rating in a research report on Thursday, October 23rd. Erste Group Bank downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Thursday, August 14th. Stifel Nicolaus reduced their price target on International Business Machines from $310.00 to $295.00 and set a “buy” rating on the stock in a research report on Thursday, October 23rd. Finally, Royal Bank Of Canada lowered their price objective on International Business Machines from $315.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $288.00.

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.