ARMONK, N.Y.—Jaclyn LaMoreaux, Senior Vice President at International Business Machines Corp. (NYSE:IBM), recently sold 3,600 shares of the company’s common stock. The shares were sold on November 8 at an average price of $215.202, totaling approximately $774,727.
Following this transaction, LaMoreaux holds 25,389.936 shares directly. This sale is part of routine financial activities by executives and does not necessarily indicate any changes in the company’s outlook or performance.
In other recent news, significant developments have unfolded for Apple Inc (NASDAQ:). and International Business Machines Corporation (NYSE:). Bernstein SocGen Group maintained a positive outlook on Apple, reasserting an Outperform rating with a $240.00 price target. The firm’s analysis indicated that Apple, with its high product gross margins, could see around a 7% reduction in earnings per share (EPS) under hypothetical tariff-induced price adjustments.
Meanwhile, IBM announced a regular quarterly cash dividend of $1.67 per common share, continuing its tradition of returning value to shareholders. The company’s Q3 2024 financial report revealed a total revenue of $15 billion, with software revenue growing by 10% and Red Hat’s performance increasing by 14%. Despite flat consulting revenue, IBM’s hybrid cloud and AI initiatives have positioned the company for an optimistic outlook heading into 2025.
BMO Capital Markets has also updated their outlook on IBM, raising the price target to $260 from the previous $235 while maintaining a Market Perform rating. The firm highlighted the ongoing solid growth in software, which is likely to continue into fiscal year 2025, partly due to the potential integration of HashiCorp (NASDAQ:), a software company specializing in cloud infrastructure automation. These are the recent developments that investors should be aware of.
InvestingPro Insights
While Jaclyn LaMoreaux’s recent stock sale might catch investors’ attention, it’s crucial to consider IBM’s broader financial picture. According to InvestingPro data, IBM boasts a substantial market capitalization of $197.69 billion, underlining its position as a major player in the tech industry. The company’s revenue for the last twelve months stands at $62.58 billion, with a modest growth of 2.3% over the same period.
InvestingPro Tips highlight IBM’s strong dividend history, having raised its dividend for 29 consecutive years and maintained payments for 54 years. This consistency in shareholder returns is particularly noteworthy given the company’s 3.13% dividend yield. For income-focused investors, this track record of dividend growth could be a compelling factor.
Additionally, IBM’s stock has shown significant momentum, with a 29.66% price total return over the past six months and an impressive 49.85% return over the last year. This performance aligns with another InvestingPro Tip indicating a strong return over the last five years, suggesting sustained investor confidence in the company’s direction.
Investors seeking a more comprehensive analysis can access additional insights through InvestingPro, which offers 10 more tips for IBM, providing a deeper understanding of the company’s financial health and market position.
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