RNC Capital Management LLC Sells 93,580 Shares of International Business Machines Corporation $IBM

by · The Markets Daily

RNC Capital Management LLC decreased its stake in shares of International Business Machines Corporation (NYSE:IBM – Free Report) by 39.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 145,224 shares of the technology company’s stock after selling 93,580 shares during the quarter. International Business Machines comprises about 1.8% of RNC Capital Management LLC’s portfolio, making the stock its 28th largest holding. RNC Capital Management LLC’s holdings in International Business Machines were worth $36,111,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Blue Edge Capital LLC grew its position in International Business Machines by 0.6% in the 1st quarter. Blue Edge Capital LLC now owns 6,776 shares of the technology company’s stock valued at $1,685,000 after buying an additional 39 shares during the last quarter. Tacita Capital Inc grew its position in International Business Machines by 20.8% in the 1st quarter. Tacita Capital Inc now owns 232 shares of the technology company’s stock valued at $58,000 after buying an additional 40 shares during the last quarter. Pallas Capital Advisors LLC boosted its position in shares of International Business Machines by 0.9% during the 1st quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company’s stock worth $1,195,000 after purchasing an additional 42 shares in the last quarter. DMC Group LLC boosted its position in shares of International Business Machines by 1.2% during the 1st quarter. DMC Group LLC now owns 3,517 shares of the technology company’s stock worth $875,000 after purchasing an additional 42 shares in the last quarter. Finally, Fidato Wealth LLC boosted its position in shares of International Business Machines by 2.4% during the 1st quarter. Fidato Wealth LLC now owns 1,824 shares of the technology company’s stock worth $454,000 after purchasing an additional 42 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Up 0.5%

NYSE IBM opened at $248.47 on Monday. The firm has a market capitalization of $230.93 billion, a price-to-earnings ratio of 40.34, a PEG ratio of 3.83 and a beta of 0.71. The company’s 50 day moving average price is $261.07 and its 200 day moving average price is $257.01. International Business Machines Corporation has a one year low of $199.34 and a one year high of $296.16. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91.

International Business Machines (NYSE:IBM – Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.65 by $0.15. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The company had revenue of $16.98 billion for the quarter, compared to analyst estimates of $16.58 billion. During the same quarter last year, the firm posted $2.43 earnings per share. The business’s quarterly revenue was up 7.7% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th will be paid a dividend of $1.68 per share. The ex-dividend date is Friday, August 8th. This represents a $6.72 annualized dividend and a yield of 2.7%. International Business Machines’s payout ratio is presently 109.09%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Royal Bank Of Canada boosted their target price on shares of International Business Machines from $285.00 to $315.00 and gave the stock an “outperform” rating in a research report on Thursday, July 17th. Erste Group Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Thursday, August 14th. BMO Capital Markets lifted their price target on International Business Machines from $260.00 to $300.00 and gave the stock a “market perform” rating in a research note on Friday, July 18th. Stifel Nicolaus lifted their price target on International Business Machines from $290.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. Finally, JPMorgan Chase & Co. lifted their price target on International Business Machines from $244.00 to $290.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $268.75.

Get Our Latest Stock Analysis on International Business Machines

International Business Machines Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Corporation (NYSE:IBM – Free Report).