Aberdeen Group plc Sells 198,316 Shares of International Business Machines Corporation $IBM

Key Points

• Aberdeen Group cut its IBM stake by 15.8%, selling 198,316 shares in the third quarter; it retained 1,055,909 shares valued at about $232.2 million.
• IBM reported quarterly earnings of $2.95 per share, beating the $2.85 consensus, while revenue of $17.10 billion exceeded estimates and rose 4.7% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $266.88. IBM also declared a quarterly dividend of $1.69 per share, equivalent to a 2.7% annualized yield.

Aberdeen Group plc trimmed its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 15.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,055,909 shares of the technology company's stock after selling 198,316 shares during the quarter. Aberdeen Group plc owned about 0.11% of International Business Machines worth $232,226,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Harborfront Financial Group LLC bought a new stake in shares of International Business Machines during the second quarter valued at approximately $27,000. Hara Capital LLC bought a new stake in International Business Machines in the 2nd quarter valued at $28,000. Bare Financial Services Inc raised its position in International Business Machines by 114.6% during the second quarter. Bare Financial Services Inc now owns 103 shares of the technology company's stock valued at $29,000 after purchasing an additional 55 shares in the last quarter. Caitlin John LLC bought a new position in shares of International Business Machines during the second quarter worth about $35,000. Finally, Osbon Capital Management LLC acquired a new position in shares of International Business Machines during the 2nd quarter valued at $37,000. 58.96% of the stock is currently owned by institutional investors.

Key Headlines Impacting International Business Machines

Here are a few of the latest headlines about IBM:

• Positive Sentiment: An AI-powered quantum error-mitigation capability from LTM is now available in IBM’s Quantum Functions Catalog. This adds to the catalog’s functionality, though the announcement does not quantify commercial impact. LTM adds AI-powered quantum error mitigation to IBM catalog
• Neutral Sentiment: IBM’s new Digital Sovereignty Index says many organizations struggle to demonstrate control over their data and AI systems. That could increase demand for governance and resilience solutions, while also highlighting risks customers must address as AI adoption grows. IBM warns enterprises about AI sovereignty gaps
• Negative Sentiment: A report says IBM plans to end visa and green-card sponsorship for some roles in its largest business unit. If implemented broadly, the change could make recruiting or retaining specialized talent more difficult; the article’s details are limited. IBM to end visa and green-card sponsorship for some roles

Analyst Upgrades and Downgrades

IBM has been the topic of several recent research reports. Susquehanna set a $275.00 price objective on shares of International Business Machines in a report on Friday, November 6th. Weiss Ratings lowered International Business Machines from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, October 29th. Truist Financial set a $260.00 price objective on shares of International Business Machines in a report on Thursday, October 22nd. Stifel Nicolaus raised their target price on International Business Machines from $235.00 to $260.00 and gave the stock a "buy" rating in a research report on Thursday, October 22nd. Finally, UBS Group lifted their target price on shares of International Business Machines from $236.00 to $243.00 and gave the company a "neutral" rating in a research note on Thursday, October 22nd. Nineteen analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, International Business Machines currently has an average rating of "Moderate Buy" and an average target price of $266.88.

International Business Machines Stock Performance

NYSE IBM opened at $247.20 on Friday. International Business Machines Corporation has a twelve month low of $199.19 and a twelve 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 has a fifty day simple moving average of $238.06 and a 200-day simple moving average of $247.43. The stock has a market cap of $233.63 billion, a PE ratio of 19.88, a P/E/G ratio of 2.41 and a beta of 0.78.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, October 21st. The technology company reported $2.95 EPS for the quarter, beating analysts' consensus estimates of $2.85 by $0.10. The company had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $16.82 billion. International Business Machines had a net margin of 15.99% and a return on equity of 34.37%. The company's quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.65 EPS. Equities analysts anticipate that International Business Machines Corporation will post 12.42 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. Investors of record on Tuesday, November 10th will be paid a $1.69 dividend. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $6.76 dividend on an annualized basis and a yield of 2.7%. International Business Machines's dividend payout ratio is presently 57.63%.

Insider Buying and Selling

In other news, SVP Robert Thomas sold 25,000 shares of the company's 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 sale, the senior vice president directly owned 47,800 shares in the company, valued at $11,009,296. This represents a 34.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.27% of the company's stock.

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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