2,569 International Business Machines Corporation $IBM Shares Sold by Calamos Wealth Management LLC

Key Points

• Calamos Wealth Management cut its IBM stake by 30.9%, selling 2,569 shares and retaining 5,750 shares valued at about $1.27 million.
• IBM beat quarterly expectations, reporting EPS of $2.95 versus $2.85 consensus and revenue of $17.1 billion; revenue rose 4.7% year over year.
• Analysts hold a consensus “Moderate Buy” rating with an average price target of $266.88. IBM also announced a quarterly dividend of $1.69 per share, equivalent to a 2.8% yield.

Calamos Wealth Management LLC trimmed its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 30.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,750 shares of the technology company's stock after selling 2,569 shares during the period. Calamos Wealth Management LLC's holdings in International Business Machines were worth $1,265,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in International Business Machines during the second quarter worth about $21,586,659,000. State Street Corp raised its holdings in International Business Machines by 2.7% in the 2nd quarter. State Street Corp now owns 56,045,055 shares of the technology company's stock valued at $15,760,430,000 after acquiring an additional 1,450,562 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of International Business Machines in the 2nd quarter worth approximately $4,214,868,000. Bank of New York Mellon Corp bought a new stake in shares of International Business Machines in the 2nd quarter worth approximately $2,606,782,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position 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 acquiring an additional 53,388 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IBM has been the topic of several recent research reports. Royal Bank Of Canada reissued an "outperform" rating and set a $270.00 price objective on shares of International Business Machines in a report on Thursday, October 22nd. Yorkville Ives assumed coverage on International Business Machines in a research note on Monday, October 5th. They issued an "outperform" rating and a $275.00 target price for the company. Jefferies Financial Group raised their target price on International Business Machines from $270.00 to $280.00 and gave the stock a "buy" rating in a research report on Thursday, October 22nd. Argus decreased their price target 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. Finally, Barclays boosted their price target on shares of International Business Machines from $262.00 to $277.00 and gave the company an "overweight" rating in a report on Thursday, October 22nd. Nineteen investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, International Business Machines presently has a consensus rating of "Moderate Buy" and an average target price of $266.88.

Insider Activity

In other news, SVP Robert Thomas sold 25,000 shares of the business's stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $230.32, for a total value of $5,758,000.00. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.27% of the company's stock.

International Business Machines Trading Down 1.0%

Shares of IBM opened at $244.71 on Friday. International Business Machines Corporation has a 1 year low of $199.19 and a 1 year 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 has a 50 day simple moving average of $236.76 and a 200-day simple moving average of $248.64. The stock has a market cap of $231.28 billion, a PE ratio of 20.86, a PEG ratio of 2.41 and a beta of 0.78.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings results on Wednesday, October 21st. The technology company reported $2.95 EPS for the quarter, beating the consensus estimate of $2.85 by $0.10. International Business Machines had a return on equity of 34.37% and a net margin of 15.99%. The business had revenue of $17.10 billion for the quarter, compared to analyst estimates of $16.82 billion. During the same quarter in the previous year, the firm earned $2.65 EPS. International Business Machines's quarterly revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts predict that International Business Machines Corporation will post 12.41 EPS for the current fiscal year.

International Business Machines Dividend Announcement

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

Trending Headlines about 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

About International Business Machines

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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