14,674 International Business Machines Corporation $IBM Shares Sold by Axxcess Wealth Management LLC

Key Points

• Axxcess Wealth Management reduced its IBM stake by 28.1% in the third quarter, selling 14,674 shares and retaining 37,536 shares valued at approximately $8.26 million. Institutional investors collectively own 58.96% of IBM.
• IBM exceeded third-quarter expectations, reporting adjusted EPS of $2.95 and revenue of $17.1 billion, up 4.7% year over year. Software revenue rose 8%, while management maintained its 4%-5% annual revenue-growth outlook and expects free cash flow to increase by more than $1 billion.
• Analysts give IBM a consensus “Moderate Buy” rating with an average price target of $255.76, although views range from buy to sell and concerns remain about narrower-than-expected gross margins.

Axxcess Wealth Management LLC lessened its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 28.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,536 shares of the technology company's stock after selling 14,674 shares during the quarter. Axxcess Wealth Management LLC's holdings in International Business Machines were worth $8,256,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IBM. Assetmark Inc. lifted its holdings in International Business Machines by 24.8% in the 1st quarter. Assetmark Inc. now owns 64,458 shares of the technology company's stock valued at $15,624,000 after purchasing an additional 12,791 shares in the last quarter. Flputnam Investment Management Co. acquired a new stake in International Business Machines during the 2nd quarter worth $15,237,000. Beacon Investment Advisory Services Inc. grew its holdings in shares of International Business Machines by 939.4% during the second quarter. Beacon Investment Advisory Services Inc. now owns 30,495 shares of the technology company's stock worth $8,575,000 after buying an additional 27,561 shares in the last quarter. St. Louis Financial Planners Asset Management LLC grew its holdings in shares of International Business Machines by 34.6% during the second quarter. St. Louis Financial Planners Asset Management LLC now owns 14,234 shares of the technology company's stock worth $4,121,000 after buying an additional 3,659 shares in the last quarter. Finally, Evercore Wealth Management LLC raised its position in shares of International Business Machines by 9.0% in the first quarter. Evercore Wealth Management LLC now owns 62,801 shares of the technology company's stock valued at $15,222,000 after buying an additional 5,196 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

More International Business Machines News

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

• Positive Sentiment: Q3 results exceeded expectations: IBM reported adjusted earnings of $2.95 per share versus consensus estimates near $2.85-$2.88, while revenue rose approximately 5% year over year to $17.1 billion, ahead of the roughly $16.8 billion forecast. IBM beats on top and bottom lines
• Positive Sentiment: Software and infrastructure growth accelerated: Software revenue increased 8% to $7.8 billion and Infrastructure revenue rose 4% to $3.7 billion. Management said previously delayed infrastructure deals began closing, supporting the view that the prior-quarter slowdown was temporary. IBM raises annual software revenue outlook
• Positive Sentiment: Cash-flow outlook improved: IBM generated $3.0 billion in free cash flow during the quarter and expects full-year free cash flow to increase by more than $1 billion from the prior year. The company maintained its 4%-5% full-year constant-currency revenue-growth forecast. IBM third-quarter results
• Positive Sentiment: CEO Arvind Krishna highlighted momentum in enterprise AI and “Super Intelligence” initiatives, while IBM’s partnerships around open-source AI inference and its quantum-computing strategy add longer-term growth catalysts.
• Neutral Sentiment: IBM’s GAAP net income rose to $2.19 billion from $1.74 billion a year earlier, and the board declared a quarterly dividend of $1.69 per share.
• Negative Sentiment: Gross margin was narrower than expected, which could limit the benefit of revenue growth if elevated AI, infrastructure, or implementation costs persist.

International Business Machines Price Performance

Shares of IBM stock opened at $250.67 on Thursday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.79 and a quick ratio of 0.74. The firm's 50-day moving average is $232.36 and its two-hundred day moving average is $243.60. International Business Machines Corporation has a 12 month low of $199.19 and a 12 month high of $332.46. The company has a market capitalization of $236.16 billion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 2.32 and a beta of 0.73.

International Business Machines (NYSE:IBM - Get Free Report) last posted its earnings results on Wednesday, October 21st. The technology company reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.10. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. The company had revenue of $17.10 billion for the quarter, compared to analyst estimates of $16.82 billion. During the same period in the previous year, the business posted $2.65 EPS. International Business Machines's revenue was up 4.7% on a year-over-year basis. Analysts predict that International Business Machines Corporation will post 12.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IBM. Citic Securities raised their price target on shares of International Business Machines from $294.00 to $297.00 and gave the stock a "buy" rating in a research note on Wednesday, July 29th. Susquehanna reaffirmed a "neutral" rating on shares of International Business Machines in a research note on Wednesday. Wall Street Zen downgraded shares of International Business Machines from a "hold" rating to a "sell" rating in a report on Saturday, September 12th. BMO Capital Markets decreased their target price on shares of International Business Machines from $270.00 to $230.00 and set a "market perform" rating on the stock in a research note on Thursday, July 23rd. Finally, Weiss Ratings upgraded International Business Machines from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, October 14th. Twenty equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $255.76.

Insider Buying and Selling

In related news, SVP Robert Thomas sold 25,000 shares of the company'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 transaction, the senior vice president directly owned 47,800 shares in the company, valued at approximately $11,009,296. This represents a 34.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.27% of the company's stock.

International Business Machines Profile

International Business Machines Corporation NYSE: IBM, commonly known as IBM, is a global technology and consulting company that helps organizations modernize their information technology and business operations. Its offerings include hybrid cloud solutions, artificial intelligence software and services, enterprise software, IT infrastructure, cybersecurity, data analytics, and technology consulting.

IBM provides products and services to businesses, governments, and other institutions across industries and regions worldwide.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.