81,517 International Business Machines Corporation $IBM Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings cut its IBM position by 23.6%, selling 81,517 shares in the third quarter; it retained 263,854 shares valued at about $59.5 million.
• IBM reported quarterly EPS of $2.95, beating the $2.85 consensus, while revenue of $17.1 billion exceeded expectations and rose 4.7% year over year.
• Analysts had a consensus “Moderate Buy” rating and an average price target of $266.88. IBM also declared a quarterly dividend of $1.69 per share, equivalent to a 2.8% yield at the cited share price.

Allspring Global Investments Holdings LLC cut its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 23.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 263,854 shares of the technology company's stock after selling 81,517 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in International Business Machines were worth $59,531,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of International Business Machines in the second quarter valued at $21,586,659,000. State Street Corp raised its stake in shares of International Business Machines by 2.7% during the 2nd quarter. State Street Corp now owns 56,045,055 shares of the technology company's stock worth $15,760,430,000 after buying an additional 1,450,562 shares during the last quarter. Bank of America Corp DE boosted its position 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 worth $3,893,669,000 after buying an additional 1,049,602 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of International Business Machines in the 2nd quarter worth about $2,606,782,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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 buying an additional 53,388 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Trading Down 0.6%

Shares of IBM stock opened at $244.59 on Wednesday. The firm has a market cap of $231.17 billion, a P/E ratio of 19.99, a PEG ratio of 2.42 and a beta of 0.78. The firm's 50-day simple moving average is $237.19 and its 200-day simple moving average is $248.14. International Business Machines Corporation has a 1-year low of $199.19 and a 1-year high of $332.46. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.85 and a quick ratio of 0.80.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, October 21st. The technology company reported $2.95 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $16.82 billion. During the same period in the previous year, the company earned $2.65 EPS. The business's quarterly revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts forecast that International Business Machines Corporation will post 12.42 EPS for the current year.

International Business Machines Dividend Announcement

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

Insiders Place Their Bets

In related news, SVP Robert Thomas sold 25,000 shares of the stock in a transaction 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 directly owned 47,800 shares in the company, valued at approximately $11,009,296. This represents a 34.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.27% of the company's stock.

International Business Machines News Roundup

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

• Positive Sentiment: IBM and Microsoft announced an industry-focused AI agent platform, combining Microsoft’s cloud and AI technology with IBM Consulting’s more than 6,000 pre-built agents and implementation expertise. The partnership could help IBM win enterprise AI work. IBM and Microsoft announce AI agent platform
• Positive Sentiment: IBM deployed its first quantum computer in Illinois, building research and industry partnerships and supporting plans for 750 technology jobs. The move strengthens IBM’s quantum-computing presence, though commercial returns may take time. IBM quantum system in Illinois
• Positive Sentiment: IBM’s Apptio unit expanded tools for tracking and planning AI spending, including connections to leading AI systems. This may help enterprises manage costs and could support demand for IBM’s software offerings. Apptio expands AI spending tools
• Neutral Sentiment: Quantum X Labs reported up to 20% fewer decoding failures in preliminary tests using three IBM quantum processors. The results showcase use of IBM hardware, but IBM said it is not affiliated with or endorsing the company or results, limiting the direct business significance. Quantum X Labs benchmarks on IBM processors
• Negative Sentiment: The EU is suing IBM and two partners over delays in the bloc’s smart border system rollout. The case adds legal and reputational risk; reports did not specify potential damages. EU lawsuit over border system delays
• Negative Sentiment: IBM plans to end visa and green-card sponsorship for the majority of roles in its largest unit, consulting. The policy may reduce some costs, but could also make recruiting and retaining international talent more difficult. IBM consulting immigration sponsorship changes

Analyst Upgrades and Downgrades

IBM has been the topic of several research reports. Citigroup increased their price target on shares of International Business Machines from $245.00 to $280.00 and gave the company a "buy" rating in a research report on Thursday, October 22nd. Robert W. Baird raised their price target on International Business Machines from $230.00 to $260.00 and gave the stock a "neutral" rating in a research report on Thursday, October 22nd. UBS Group boosted their price target on International Business Machines from $236.00 to $243.00 and gave the stock a "neutral" rating in a report on Thursday, October 22nd. Yorkville Ives assumed coverage on International Business Machines in a research report on Monday, October 5th. They issued an "outperform" rating and a $275.00 price objective on the stock. Finally, Daiwa Securities Group decreased their price objective on International Business Machines from $247.00 to $217.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 29th. Nineteen 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. According to MarketBeat, International Business Machines has a consensus rating of "Moderate Buy" and a consensus target price of $266.88.

International Business Machines 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.

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