RWWM Inc. Has $1.55 Million Position in International Business Machines Corporation $IBM

RWWM Inc. cut its stake in shares of International Business Machines Corporation (NYSE:IBM) by 33.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,387 shares of the technology company’s stock after selling 3,154 shares during the quarter. International Business Machines makes up about 0.1% of RWWM Inc.’s portfolio, making the stock its 22nd largest position. RWWM Inc.’s holdings in International Business Machines were worth $1,548,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IBM. Basepoint Wealth LLC bought a new position in shares of International Business Machines during the 4th quarter worth about $25,000. Family CFO Inc acquired a new stake in shares of International Business Machines in the 4th quarter valued at about $25,000. Joseph Group Capital Management bought a new stake in International Business Machines in the 4th quarter valued at about $28,000. Cornerstone Financial Management LLC bought a new stake in International Business Machines in the 4th quarter valued at about $28,000. Finally, SWAN Capital LLC acquired a new position in International Business Machines during the 3rd quarter worth approximately $28,000. 58.96% of the stock is owned by institutional investors.

International Business Machines Price Performance

Shares of NYSE IBM opened at $216.59 on Wednesday. The stock has a market cap of $203.57 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 2.80 and a beta of 0.68. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.80. International Business Machines Corporation has a fifty-two week low of $212.34 and a fifty-two week high of $332.46. The firm’s 50-day simple moving average is $264.70 and its 200 day simple moving average is $265.20.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, April 22nd. The technology company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.10. The firm had revenue of $15.92 billion during the quarter, compared to analyst estimates of $15.60 billion. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.60 EPS. As a group, research analysts anticipate that International Business Machines Corporation will post 12.45 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 8th were given a dividend of $1.69 per share. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from International Business Machines’s previous quarterly dividend of $1.68. This represents a $6.76 annualized dividend and a dividend yield of 3.1%. International Business Machines’s payout ratio is presently 59.77%.

Trending Headlines about International Business Machines

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

• Negative Sentiment: IBM reported preliminary Q2 revenue of about $17.2 billion and adjusted EPS of $2.93, both below estimates, raising concerns about near-term growth and execution. Reuters: IBM expects second-quarter revenue below estimates
• Negative Sentiment: CEO Arvind Krishna said the company “faltered,” citing delayed deal closures and customers shifting budgets toward AI infrastructure and memory chips, which hurt software and infrastructure sales. CNBC: IBM warns second-quarter earnings fell short of expectations
• Negative Sentiment: The warning is dragging other software and IT services names lower, reinforcing fears that enterprise spending is moving away from traditional software vendors and toward AI hardware/cybersecurity. Investor’s Business Daily: Stock Market Jumps As Inflation Eases; IBM Warns

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. KeyCorp cut International Business Machines to a “sector weight” rating in a research note on Tuesday, June 23rd. DZ Bank raised International Business Machines from a “hold” rating to a “buy” rating and set a $295.00 target price on the stock in a research report on Friday, April 24th. JPMorgan Chase & Co. upgraded International Business Machines from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $270.00 to $291.00 in a report on Tuesday, June 23rd. Susquehanna assumed coverage on shares of International Business Machines in a research report on Friday, July 10th. They issued a “neutral” rating and a $303.00 price target for the company. Finally, Roth Capital restated a “buy” rating on shares of International Business Machines in a research note on Wednesday, June 3rd. Fourteen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $307.17.

International Business Machines 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.