13,422 International Business Machines Corporation $IBM Shares Sold by International Assets Investment Management LLC

Key Points

• International Assets Investment Management cut its IBM position by 92.6% in the third quarter, selling 13,422 shares and retaining 1,072 shares valued at about $236,000.
• IBM beat quarterly estimates, reporting earnings of $2.95 per share and revenue of $17.10 billion; revenue increased 4.7% year over year.
• IBM declared a quarterly dividend of $1.69 per share, equivalent to a 2.8% annualized yield. Analysts’ average rating was “Moderate Buy,” with an average price target of $266.88.

International Assets Investment Management LLC lowered its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 92.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,072 shares of the technology company's stock after selling 13,422 shares during the quarter. International Assets Investment Management LLC's holdings in International Business Machines were worth $236,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of IBM. BlackRock Inc. purchased a new position in International Business Machines in the second quarter worth about $21,586,659,000. State Street Corp raised its position in International Business Machines by 2.7% during the second quarter. State Street Corp now owns 56,045,055 shares of the technology company's stock valued at $15,760,430,000 after purchasing an additional 1,450,562 shares during the period. Bank of America Corp DE lifted its stake in shares of International Business Machines by 7.0% in the 1st quarter. Bank of America Corp DE now owns 16,063,653 shares of the technology company's stock valued at $3,893,669,000 after purchasing an additional 1,049,602 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of International Business Machines in the 2nd quarter valued at approximately $2,606,782,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of International Business Machines by 0.7% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,621,512 shares of the technology company's stock worth $2,143,245,000 after purchasing an additional 53,388 shares during the period. Institutional investors own 58.96% of the company's stock.

International Business Machines Trading Down 1.0%

Shares of IBM traded down $2.40 during trading hours on Friday, reaching $244.71. 3,491,508 shares of the company traded hands, compared to its average volume of 5,459,637. The firm has a market cap of $231.28 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 2.49 and a beta of 0.78. International Business Machines Corporation has a 12-month low of $199.19 and a 12-month high of $332.46. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 1.57. The stock's fifty day moving average price is $236.76 and its 200 day moving average price is $248.64.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings results on Wednesday, October 21st. The technology company reported $2.95 EPS for the quarter, topping the consensus estimate of $2.85 by $0.10. International Business Machines had a net margin of 15.99% and a return on equity of 34.37%. The company had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $16.82 billion. During the same quarter last year, the firm posted $2.65 EPS. The firm's revenue was up 4.7% compared to the same quarter last year. Sell-side analysts forecast that International Business Machines Corporation will post 12.41 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Tuesday, November 10th will be paid a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Tuesday, November 10th. International Business Machines's dividend payout ratio is currently 57.63%.

Key Stories Impacting International Business Machines

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

• Positive Sentiment: Evercore’s sum-of-the-parts analysis values IBM at $290 a share, above its $275 price target, suggesting the firm sees potential value in IBM’s businesses, including quantum computing. IBM Stock Could Be More Than a ‘Safe Haven.' Quantum Computing Is a Big Reason
• Positive Sentiment: IBM’s Quantum System Two is now operational at the University of Chicago, expanding its quantum-computing presence and partnerships in Illinois. The installation strengthens IBM’s research and commercialization ecosystem, though financial returns are likely longer term. IBM Unveils Its Most Advanced Quantum Computer in Chicago
• Positive Sentiment: IBM, AMD and Oak Ridge National Laboratory launched a platform combining quantum and high-performance computing to advance quantum error correction, supporting IBM’s technology roadmap. The initiative targets progress toward a scientifically relevant quantum computer by 2028. Oak Ridge National Laboratory, IBM, and AMD Launch New Co-Design Platform for Quantum Error Correction
• Neutral Sentiment: A recent valuation commentary questions whether IBM’s cash-flow outlook supports the stock’s longer-term share-price gains. The excerpt does not provide a firm valuation conclusion, but it highlights investor scrutiny of the company’s price relative to future cash generation. IBM Stock Could Trade At A Discount After Quantum Computing News

Analysts Set New Price Targets

Several research firms have recently weighed in on IBM. Truist Financial set a $260.00 target price on International Business Machines in a research report on Thursday, October 22nd. Bank of America lowered their price target on International Business Machines from $330.00 to $280.00 and set a "buy" rating for the company in a research report on Wednesday, July 15th. Yorkville Ives started coverage on shares of International Business Machines in a research note on Monday, October 5th. They set an "outperform" rating and a $275.00 price objective for the company. Daiwa Securities Group cut their price objective on shares of International Business Machines from $247.00 to $217.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 29th. Finally, Argus reduced their target price on shares of International Business Machines from $360.00 to $280.00 and set a "buy" rating on the stock in a research note on Thursday, July 16th. Nineteen equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, International Business Machines presently has an average rating of "Moderate Buy" and an average price target of $266.88.

Insider Buying and Selling at International Business Machines

In related news, SVP Robert Thomas sold 25,000 shares of the business's stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $230.32, for a total value of $5,758,000.00. Following the completion of the sale, the senior vice president owned 47,800 shares in the company, valued at approximately $11,009,296. The trade was a 34.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.27% of the company's stock.

International Business Machines Company Profile

International Business Machines Corporation (IBM) is a global technology company that provides software, consulting, infrastructure and related services to businesses and public-sector organizations. Its offerings include hybrid cloud and artificial intelligence solutions, enterprise software, IT consulting, and systems such as IBM Z mainframes and Power servers.

IBM also develops technologies in areas including data management, automation, cybersecurity and quantum computing. Its consulting teams help clients design, build and manage technology systems and business processes.

The company traces its roots to the Computing-Tabulating-Recording Company, formed in 1911, and adopted the name International Business Machines in 1924.

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